Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash $ 33,865 $ 46,286
Accounts receivable, net 175,711 79,943
Inventory 297,810 350,273
Recoverable IVA taxes and credits 352,993 353,780
Other current assets 246,565 279,878
Total Current Assets 1,106,944 1,110,160
Non-Current Assets    
Plant and equipment, net 201,757 231,328
Intangibles, net 157,667 168,417
Investment 3,000 3,000
Other assets 7,305 9,847
Total Non-Current Assets 369,729 412,592
Total Assets 1,476,673 1,522,752
Current Liabilities    
Accounts payable and accrued expenses 198,414 320,487
Notes payable 562,750 526,750
Convertible debt, net of unamortized discount of $420,326 and $75,888, respectively 120,957 1,180
Derivative liability 818,844 113,074
IVA and other taxes payable 147,136 166,108
Advances from customers 150,571 132,133
Total Current Liabilities 1,998,672 1,259,732
Total Liabilities 1,998,672 1,259,732
Stockholders' Equity (Deficit)    
Preferred stock, $0.0001 par value; 25,000,000 shares authorized, no preferred shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively  
Common stock, $0.0001 par value; 100,000,000 shares authorized, 55,454,000 and 55,454,000 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively. 5,545 5,545
Additional paid-in-capital 8,284,522 8,284,522
Accumulated deficit (9,313,135) (8,757,197)
Accumulated other comprehensive income 501,069 730,150
Total stockholder's equity - controlling interest (521,999) 263,020
Non-controlling interest
Total Stockholders' Equity (Deficit) (521,999) 263,020
Total Liabilities and Stockholders' Equity (Deficit) $ 1,476,673 $ 1,522,752