Resonate Blends, INC. 10-Q Filing

Ticker: KOAN · Form: 10-Q · Filed: May 20, 2024 · CIK: 897078

Sentiment: neutral

Filing Stats: 4,637 words · 19 min read · ~15 pages · Grade level 16.9 · Accepted 2024-05-20 17:31:28

Key Financial Figures

Filing Documents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3 Item 1:

Financial Statements

Financial Statements 3 Item 2:

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 4 Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 8 Item 4:

Controls and Procedures

Controls and Procedures 8

– OTHER INFORMATION

PART II – OTHER INFORMATION 10 Item 1:

Legal Proceedings

Legal Proceedings 10 Item 1A:

Risk Factors

Risk Factors 10 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 10 Item 3: Defaults Upon Senior Securities 10 Item 4: Mine Safety Disclosures 10 Item 5: Other Information 10 Item 6: Exhibits 10 2 PART I - FINANCIAL INFORMATION Item 1. Financial Statements Our consolidated financial statements included in this Form 10-Q are as follows: F-1 Consolidated Balance Sheets as of March 31, 2024 (unaudited), and December 31, 2023 F-2 Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (unaudited) F-3 Consolidated Statement of Stockholders' Equity (Deficit) for the Three Months Ended March 31, 2024 and 2023 (unaudited) F-4 Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) F-5 Notes to Consolidated Unaudited Financial Statements. These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim three months ended March 31, 2024, are not necessarily indicative of the results that can be expected for the full year. 3 Resonate Blends, Inc. Consolidated Balance Sheets (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 47,194 $ 6,938 Advances to Pegasus Specialty Vehicles LLC 970,000 970,000 Total current assets 1,017,194 976,938 Fixed assets, net 50,000 15,303 Intangible assets, net 4,803,841 - Due from related parties 19,505 - Investment 1,880 100 Other assets 42,500 - TOTAL ASSETS $ 5,934,920 $ 992,341 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued liabilities $ 912,895 $ 445,219 Due to r

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