CarbonMeta Technologies : Quarterly Report Statement for the Period Ending 03/31/2022

QUARTERLY REPORT

for the Period Ended

March 31, 2022

CARBONMETA

TECHNOLOGIES,

INC.

(EXACT NAME OF THE COMPANY AS

SPECIFIED IN ITS CHARTER)

Delaware	95-4868120
(State or Other Jurisdiction	(I.R.S. Employer
of Incorporation)	Identification No.)

13110 NE 177th Place

Woodinville, WA 98072

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

[phone]

(ISSUER REGISTRANT TELEPHONE NUMBER)

COMMON STOCK, PAR VALUE $0.0001

(TITLE OF CLASS)

Number of shares of common stock ($0.0001 par value) outstanding as of May 23, 2022 was 18,887,886,254 shares.

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	INDEX
	PART I
Item 1.	Condensed Consolidated Financial Statements
	Condensed Consolidated Balance Sheets at March 31, 2022 (Unaudited) and December 31,
	2021	3
	Unaudited Condensed Consolidated Statements of Operations for the three months ended
	March 31, 2022 and 2021	5
	Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended
	March 31, 2022	7
	Notes to Unaudited Condensed Consolidated Financial Statements	8-33
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	34
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	34
Item 4.	Controls and Procedures	39
	PART II
Item 1.	Legal Proceedings	40
Item 1A.	Risk Factors	40
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	40
Item 3.	Defaults Upon Senior Securities	40
Item 4.	Mine Safety Disclosures	40
Item 5.	Other Information	40
SIGNATURES	41

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COROWARE, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

		March 31,		December 31,
		2022			2021
ASSETS		(Unaudited)			(Unaudited)
CURRENT ASSETS:
Cash	$	52,198	$	10,573
Other current assets		112,589			30,000
Total Current Assets		164,787			40,573
Property and equipment, net		40,590			44,420
Other Assets		72,698			74,653
TOTAL ASSETS	$	278,075		$	159,646
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES:
Accounts payable and accrued expenses	$	10,233,828	$	10,058,441
Accrued expenses - related parties		270,794			233,423
Obligations collateralized by receivables, net		206,236			206,236
Convertible debt, net		1,993,891			1,987,425
Notes payable		124,873			124,873
Notes payable - related parties		199,415			199,415
Small business administration loan		979,950			979,950
Derivative liability		12,575,938			11,904,070
Total Current Liabilities		26,584,925			25,696,833
TOTAL LIABILITIES		26,584,925			25,696,833
Commitments and contingencies		-			-
STOCKHOLDERS' DEFICIT:
Redeemable convertible preferred stock, Series A, $0.001 par value,
125,000 shares authorized, 0 shares issued and outstanding		-			-
Redeemable convertible preferred stock, Series B, $0.001 par value,
525,000 shares authorized, 159,666 shares issued and outstanding		160			160
Redeemable convertible preferred stock, Series C, $0.001 par value,
500,000 shares authorized, 0 shares issued and outstanding		-			-
Redeemable convertible preferred stock, Series D, $0.001 par value,
500,000 shares authorized, 100,000 shares issued and outstanding		100			100
Redeemable convertible preferred stock, Series E, $0.001 par value,
1,000,000 shares authorized, 821,377 shares issued and outstanding		821			821
Redeemable convertible preferred stock, Series F, $0.001 par value,
500,000 shares authorized, 190,000 and 0 shares issued and outstanding		190			190
Redeemable convertible preferred stock, Series G, $0.001 par value,
500,000 shares authorized, 25,000 shares issued and outstanding		25			25

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Common stock; 35,000,000,000 shares authorized, $0.0001 par value,
18,651,358,477 and 17,592,057,163 shares issued and outstanding,
respectively		1,865,136				1,759,206
Additional paid-in capital	37,311,616				36,775,697
Non-controlling interest	92,258				92,258
Treasury stock	(18,997)			(13,172)
Accumulated deficit		(65,558,159)				(64,146,646)
TOTAL STOCKHOLDERS' DEFICIT		(26,306,850)				(25,537,187)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	278,075			$	159,646

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

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COROWARE, INC. AND SUBSIDIARIES

Unaudited Condensed Consolidated Statements of Operations

For the three months ended March 31, 2022 and 2021

20222021

REVENUES, NET

$

-

$

-

COST OF REVENUE	1,631	-
GROSS PROFIT	(1,631)	-

OPERATING EXPENSES
	General and administrative	113,226		37,500
Executive Wages	37,500
	Legal & Professional Fees	394,056
Investor Relations	20,664
	Consulting Fees	15,221
Sales and marketing	14,183
	Research and development	4,099
Depreciation and amortization	5,784
	TOTAL OPERATING
EXPENSES			604,733		37,500
LOSS FROM OPERATIONS	(606,364)		(37,500)
Other income (expense):
	Derivative liability income (expense)	(426,527)		(5,684,891)
	Interest expense		(228,081)		(299,982)

Total other income (expense)		(654,608)		(5,984,873)
Net loss	$	(1,260,972)	$	(6022,373)

Net loss per common share:

	Basic and diluted net loss per
	common share	$	(0.00)	$	(0.00)
	Weighted average number of
	common shares outstanding - basic						13,578,434,976
	and diluted			18,469,613,742

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

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