v3.20.1

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash	$ 2,242,013	$ 2,149,738
Accounts receivable, net	52,281	148,225
Inventories	10,735	44,431
Prepaid and other assets	14,433	4,000
Total Current Assets	2,319,462	2,346,394
Property and equipment, net	23,871	37,369
Right of use asset	25,001
Intangible assets, net	2,230,122	3,731,584
Goodwill	3,313,226	3,313,226
TOTAL ASSETS	7,911,682	9,428,573
CURRENT LIABILITIES:
Accounts payable and accrued expenses	1,388,505	1,100,005
Loans payable - related parties
Income tax payable		80,000
Salaries payable - related party		50,000
Current portion of right of use liability	8,040
Current Portion-notes payable	2,500,000	2,500,000
Current portion - notes payable, related party net of discounts of $123,336 and $0 December 31, 2019 and 2018, respectively	5,181,164
Total Current Liabilities	9,077,709	3,730,005
LONG-TERM LIABILITIES:
Right of use liability, net of current portion	16,784
Notes payable, related party net of discounts of $0 and $287,785 December 31, 2019 and 2018, respectively		4,862,215
Deferred tax liability	364,882	905,128
Total Long-term Liabilities	381,666	5,767,343
Total Liabilities	9,459,375	9,497,348
STOCKHOLDERS' DEFICIENCY
Preferred Stock, .001 par value, 5,000,000 shares authorized No shares issued and outstanding December 31, 2019 and 2018
Common Stock, .001 par value, 100,000,000 shares authorized 22,869,191 shares issued and outstanding December 31, 2019 and 2018, respectively	22,869	22,869
Additional Paid in Capital	1,117,967	1,117,967
Accumulated Deficit	(2,688,529)	(1,209,611)
Total Stockholders' Deficiency	(1,547,693)	(68,775)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$ 7,911,682	$ 9,428,573

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.

Health-Right Discoveries, Inc. 10-K