LEAFBUYER TECHNOLOGIES, INC.
OTCMKTS: LBUY $1.0 2.04%
Balance Sheet
March 31, 2019 June 30, 2018
ASSETS
Current assets:
Cash and cash equivalents 563,383 375,938
Accounts receivable, net (allowance for doubtful accounts was $53,815 at March 31, 2019 and $6,617 at June 30, 2018) 58,318 8,279
Inventory 3,530 3,530
Prepaid expenses and other current assets 147,721 172,566
Total current assets 772,952 560,313
Noncurrent assets:
Intangible assets, net 3,215,250 0
Fixed assets, net 495 873
Total noncurrent assets 3,215,745 873
Total assets 3,988,697 561,186
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable 194,498 290,783
Accrued liabilities 459,086 66,087
Deferred revenue 221,715 156,530
Debt, current 1,640,197 805,684
Total current liabilities 2,515,496 1,319,084
Debt, long-term 110,145 0
Total liabilities 2,625,641 1,319,084
Commitments and contingencies (Note 7) 0 0
Equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 6,750,000 shares issued and outstanding for class A convertible preferred stock and 70,000 shares issued and outstanding for class B convertible preferred stock at March 31, 2019 and June 30 6,820 6,820
Common stock, $0.001 par value; 150,000,000 shares authorized; 47,147,804 shares issued and outstanding at March 31, 2019 and 42,661,228 shares issued and outstanding at June 30, 2018 47,148 42,661
Additional paid in capital 10,064,214 3,130,831
Accumulated deficit -8,755,126 -3,938,210
Total equity (deficit) 1,363,056 -757,898
Total liabilities and equity 3,988,697 561,186
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Statements of Income
Three Months Ended March 31, Nine Months Ended March 31,
2019 2018 2019 2018
Sales revenue 489,320 287,224 1,296,550 785,969
Cost of sales 0 0 0 0
Gross profit 489,320 287,224 1,296,550 785,969
Operating expenses:
Selling expenses 70,025 53,966 200,300 138,821
General and administrative 1,947,795 1,060,829 5,556,901 1,945,141
Total operating expenses 2,017,820 1,114,795 5,757,201 2,083,962
Loss from operations -1,528,500 -827,571 -4,460,651 -1,297,993
Other income (expense):
Interest expense -181,643 -12,919 -356,265 -12,948
Other income 0 0 0 0
Other income (expense), net -181,643 -12,919 -356,265 -12,948
Income tax expense 0 0 0 0
Net loss -1,710,143 -840,490 -4,816,916 -1,310,941
Net loss per common share:
Basic and diluted -0.04 -0.02 -0.10 -0.03
Weighted average common shares outstanding:
Basic and diluted 45,418,004 40,418,163 48,337,990 39,197,367
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Cash Flows
Nine Months Ended March 31,
2019 2018
Cash flows from operating activities:
Net loss -4,816,916 -1,310,941
Adjustments to reconcile net income to net cash (used in)
provided by operating activities:
Stock compensation expense 1,768,876 239,133
Stock issued for services 40,560 280,850
Amortization of note payable discount 281,130 0
Depreciation and amortization expense 234,369 214
Changes in assets and liabilities:
Accounts receivable -50,039 -9,538
Inventory 0 -3,652
Prepaid expenses and other 24,845 -187,547
Accounts payable -96,285 0
Accrued liabilities 258,184 109,791
Net cash used in operating activities -2,355,276 -881,690
Cash flows from investing activities:
Software acquisition -449,241 0
Net cash provided by (used in) investing activities -449,241 0
Cash flows from financing activities:
Proceeds from issuance of common stock 1,111,962 122,000
Proceeds from issuance of debt 2,100,000 790,603
Repayment of debt -220,000 0
Net cash provided by financing activities 2,991,962 912,603
Net change in cash and cash equivalents 187,445 30,913
Cash and cash equivalents, beginning of period 375,938 164,680
Cash and cash equivalents, end of period 563,383 195,593
Cash paid for interest 0 0
Cash paid for taxes 0 0
Supplemental information for non-cash investing and financing activities:
Conversion of debt and interest plus issuance of warrants 377,094 0
Software acquisition 2,800,000 0
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