v3.19.3

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash	$ 43,683	$ 13,862
Accounts receivable, net	342	1,393
Prepaid expenses	314,645	216,139
Inventory	103,142	68,643
Total current assets	461,812	300,037
Property and equipment - net	85,523	104,590
OTHER ASSETS
Deposit	4,817	4,617
Intellectual property, net		11,458
Advance on future royalties - related parties, net		319,441
Total other assets	4,817	335,516
TOTAL ASSETS	552,152	740,143
CURRENT LIABILITIES
Accounts payable and other payables	544,659	696,195
Accounts payable, related party	127,480	77,597
Accrued interest	21,262
Accrued interest, related party	100,919	34,750
Deferred revenue	250,000
Deferred compensation, related party	12,500	12,500
Insurance financing liability	223,482	204,419
Notes payable, related party, net of discount of $41,379	1,058,621
Convertible Notes payable, net of discount of $127,053	8,947
Convertible Notes payable - related party	500,000	500,000
Notes Payable, net of discount of $8,892 and $0	191,108
Embedded Conversion Option Liability	114,000
Total current liabilities	3,152,978	1,525,461
LONG TERM LIABILITIES
Notes payable, net of discount of $3,737 and $18,218	96,263	181,782
Notes payable, related parties, net of discount of $56,380 and $97,796	943,621	1,002,204
Convertible Notes Payable net of discount of $193,202 and $0	356,794
Convertible Notes payable related parties net of discount of $501,351 and $0	1,098,649
Total long-term liabilities	2,495,327	1,183,986
Total Liabilities	5,648,305	2,709,447
Commitments (note 4)
STOCKHOLDERS' DEFICIT
Common stock; 100,000,000 shares authorized, at $0.001 par value, 40,954,115 and 40,650,397 shares issued and outstanding, respectively	40,954	40,650
Additional paid-in capital	24,283,509	21,970,266
Accumulated deficit	(29,420,616)	(23,980,220)
Total stockholders' deficit	(5,096,153)	(1,969,304)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 552,152	$ 740,143

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.

Zero Gravity Solutions, Inc. 10-K