v3.21.1

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 45,827	$ 106,348
Account receivable, net	1,272,756	1,384,439
Inventory, net	2,944,326	3,337,843
Notes receivable and other current assets	127,508	63,582
Total current assets	4,390,417	4,892,212
Property and equipment, net	1,475,771	1,536,519
Intangible assets, net	101,784	105,284
Deferred tax asset	385,344	374,193
Total assets	6,353,316	6,908,208
Current liabilities
Accounts payable and accrued expenses	876,320	1,341,865
Asset-based line of credit	853,470	1,044,386
Other liabilities	5,330	5,330
Current portion of long-term notes payable, rel. party	52,702	52,702
Current portion of long-term notes payable	258,477	138,257
Total current liabilities	2,046,299	2,582,540
Other liabilities
Long-term notes payable, related parties	962,253	1,193,686
Long-term notes payable	1,855,271	1,619,175
Total other liabilities	2,817,524	2,812,861
Total liabilities	4,863,823	5,395,401
Stockholders' equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized, no shares issued
Common stock, $0.001 par value; 200,000,000 shares authorized, 47,284,689 shares issued and outstanding as of June 30, 2020 and December 31, 2019.	47,285	47,285
Additional paid-in capital	2,569,249	2,569,249
Accumulated deficit	(1,127,041)	(1,103,727)
Total stockholders' equity	1,489,493	1,512,807
Total liabilities and stockholders' equity	$ 6,353,316	$ 6,908,208

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

STERLING CONSOLIDATED Corp 10-Q