v3.23.2

CONDENSED CONSOLIDATED BALANCE SHEETS (June 30, 2023 Unaudited) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS
Cash and cash equivalents	$ 3,018,020	$ 2,753,551
Accounts receivable, net	5,671	1,584
Prepaid expenses and other current assets	33,129	36,740
Total current assets	3,056,820	2,791,875
PROPERTY AND EQUIPMENT, net	78,630	87,173
OTHER ASSETS AND INTANGIBLE ASSETS	20,616	18,250
RIGHT OF USE LEASED ASSET	213,682	279,086
TOTAL ASSETS	3,369,748	3,176,384
CURRENT LIABILITIES
Accounts payable	14,260	18,999
Accrued and other liabilities	444,600	413,646
Dividends payable	0	61,826
Operating lease liability - current portion	139,418	133,637
Deferred revenue	1,098,722	1,001,298
Total current liabilities	1,697,000	1,629,406
OPERATING LEASE LIABILITY - net of current portion	74,264	145,449
Total liabilities	1,771,264	1,774,855
SHAREHOLDERS' EQUITY
Preferred Stock, Value	409,531	409,531
Common Stock, Value	196	192
Additional paid-in capital	9,117,734	9,108,410
Accumulated deficit	(7,928,977)	(8,116,604)
Total shareholders' equity	1,598,484	1,401,529
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 3,369,748	$ 3,176,384

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

FULLNET COMMUNICATIONS INC 10-Q