EXHIBIT 99.1
Published on February 19, 2021
Exhibit 99.1
| RED CAT HOLDINGS, Inc. | ||||
| Condensed Consolidated Balance Sheets | ||||
| ( Unaudited ) | ||||
| December 31, | ||||
| 2020 | ||||
| ASSETS | ||||
| Current Assets | ||||
| Cash | $ | 485,905 | ||
| Accounts Receivable, net | 173,396 | |||
| Inventory | 889,275 | |||
| Other | 635,281 | |||
| Total Current Assets | 2,183,857 | |||
| Goodwill | 9,449,333 | |||
| Intangible Assets, net | 637,000 | |||
| Other | 3,853 | |||
| TOTAL ASSETS | $ | 12,274,043 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||
| Current Liabilities | ||||
| Accounts Payable | $ | 1,133,622 | ||
| Accrued Expenses | 89,134 | |||
| Notes Payable | 1,965,043 | |||
| Due to Related Party | 331,523 | |||
| Other | 563,100 | |||
| Derivative Liability | 2,291,584 | |||
| Total Current Liabilities | 6,374,006 | |||
| Convertible Debentures | 56,888 | |||
| Commitments and contingencies | ||||
| Stockholders' Equity | ||||
| Series A Preferred Stock | 2,087 | |||
| Series B Preferred Stock | 36,816 | |||
| Common Stock | 25,949 | |||
| Additional Paid-in Capital | 11,098,572 | |||
| Accumulated Deficit | (5,320,275 | ) | ||
| Total Stockholders' Equity | 5,843,149 | |||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 12,274,043 | ||