Summary of Significant Accounting Policies (Tables)
|
6 Months Ended |
Jun. 30, 2022 |
|---|
| Defined Benefit Plan Disclosure [Line Items] |
|
| Schedule of Equity Method Investments |
The
Company uses the equity method to account for their financial interest in the following company:
Schedule
of Equity Method Investments
| |
|
|
|
|
|
|
| |
|
June 30, 2022 |
|
|
December 31, 2021 |
|
| |
|
(Unaudited) |
|
|
|
|
| |
|
|
|
|
|
|
|
|
| iGrow Systems Inc. (a)
|
|
$ |
- |
|
|
$ |
-
|
|
| Total |
|
$ |
- |
|
|
$ |
- |
|
| a) |
The Company is a 43.15%
owner of iGrow Systems Inc., as of June 30, 2022 and December 31, 2021 respectively. |
|
| Schedule of Joint Venture of Financial Information |
Summary
information on the joint venture at June 30, 2022 and December 31, 2021 is as follows:
Schedule
of Joint Venture of Financial Information
| |
|
June
30, 2022 |
|
|
December
31, 2021 |
|
|
|
(Unaudited) |
|
|
|
|
| |
|
|
|
|
|
|
| Total
Assets |
|
$ |
- |
|
|
$ |
- |
|
| Total
Liabilities |
|
|
242,513 |
|
|
|
239,671 |
|
| Shareholders’
Deficit |
|
|
(242,513 |
) |
|
|
(239,671 |
) |
| |
|
For
the six
months ended
June 30, 2022 |
|
|
For
the six
months ended
June
30, 2021
|
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| |
|
|
|
|
|
|
| Income |
|
|
- |
|
|
|
- |
|
| Expenses |
|
|
2,842 |
|
|
|
92,102 |
|
| Net
Income (Loss) |
|
$ |
(2,842 |
) |
|
$ |
(92,102 |
) |
|
| Schedule of Fair Value of Assets on Recurring Basis |
The
following table presents certain assets of the Company’s measured and recorded at fair value on the Company’s balance sheet
on a recurring basis and their level within the fair value hierarchy as of June 30, 2022.
Schedule
of Fair Value of Assets on Recurring Basis
| |
|
Total |
|
|
(Level
1) |
|
|
(Level
2) |
|
|
(Level
3) |
|
| Fair-value
– equity securities |
|
$ |
318,874 |
|
|
$ |
318,874 |
|
|
$ |
-
|
|
|
$ |
- |
|
| Total
fair - value – equity securities |
|
$ |
318,874 |
|
|
$ |
318,874 |
|
|
$ |
- |
|
|
$ |
- |
|
The
following table presents certain assets of the Company’s measured and recorded at fair value on the Company’s balance sheet
on a recurring basis and their level within the fair value hierarchy as of December 31, 2021.
BALANCE
LABS, INC. and Subsidiaries
Notes
to Condensed Consolidated Financial Statements
As
of June 30, 2022
(Unaudited)
| |
|
Total |
|
|
(Level
1) |
|
|
(Level
2) |
|
|
(Level
3) |
|
| Fair-value
– equity securities |
|
$ |
550,057 |
|
|
$ |
550,057 |
|
|
$ |
- |
|
|
$ |
- |
|
| Total
fair – value – equity securities |
|
$ |
550,057 |
|
|
$ |
550,057 |
|
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Property and Equipment |
Property
and equipment as of June 30, 2022 and December 31, 2021 consisted of the following:
Schedule
of Property and Equipment
| |
|
June
30,
2022
(Unaudited) |
|
|
December
31,
2021 |
|
| Website |
|
$ |
1,336 |
|
|
$ |
1,336 |
|
| Computer
equipment & Software |
|
|
5,358 |
|
|
|
5,358 |
|
| Furniture |
|
|
4,622 |
|
|
|
4,622 |
|
| Total |
|
|
11,316 |
|
|
|
11,316 |
|
| Less
Accumulated Depreciation |
|
|
(11,316 |
) |
|
|
(11,316 |
) |
| Property
and Equipment, net |
|
$ |
- |
|
|
$ |
- |
|
|
| EZFill Holdings, Inc, [Member] |
|
| Defined Benefit Plan Disclosure [Line Items] |
|
| Schedule of Related Party Transactions |
Summary
information on Ezfill Holdings, Inc. at June 30, 2022 and December 31, 2021 as follows:
Schedule
of Related Party Transactions
| |
|
June 30, 2022 |
|
|
December 31, 2021 |
|
| |
|
(Unaudited) |
|
|
|
|
| |
|
|
|
|
|
|
| Total Assets |
|
$ |
20,709,349 |
|
|
$ |
22,924,118 |
|
| Total Liabilities |
|
|
5,121,831 |
|
|
|
1,055,672 |
|
| Stockholders’ Equity |
|
|
15,687,518 |
|
|
|
21,868,446 |
|
| |
|
For
the six
months ended
June 30, 2022 |
|
|
For
the six
months ended
June 30, 2021 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| |
|
|
|
|
|
|
| Income |
|
|
6,094,499 |
|
|
|
3,372,417 |
|
| Expenses |
|
|
13,233,679 |
|
|
|
6,728,507 |
|
| Net Income (Loss) |
|
$ |
(7,139,180 |
) |
|
$ |
(3,356,090 |
) |
|
| Pharmacy No, 27 Ltd [Member] |
|
| Defined Benefit Plan Disclosure [Line Items] |
|
| Schedule of Related Party Transactions |
Summary
information on Pharmacy No, 27 Ltd at June 30, 2022 and December 31, 2021 as follows:
Schedule of Related Party Transactions
| |
|
June 30, 2022 |
|
|
December 31, 2021 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| |
|
|
|
|
|
|
| Total Assets |
|
$ |
288,360 |
|
|
$ |
200,474 |
|
| Total Liabilities |
|
|
245,461 |
|
|
|
137,459 |
|
| Stockholders’ Equity |
|
|
42,899 |
|
|
|
63,015 |
|
| |
|
For
the six
months ended
June 30, 2022 |
|
|
For
the six
months ended
June 30, 2021 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| |
|
|
|
|
|
|
| Income |
|
|
17,778 |
|
|
|
9,638 |
|
| Expenses |
|
|
125,353 |
|
|
|
76,667 |
|
| Net Income (Loss) |
|
$ |
(107,575 |
) |
|
$ |
(67,029 |
) |
|