Income Statement

v3.20.4
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Revenues $ 2,745,958 $ 2,757,158 $ 8,186,907 $ 9,062,462
Cost of Goods Sold 1,240,586 1,431,656 4,064,517 4,910,120
Gross Profit 1,505,372 1,325,502 4,122,390 4,152,342
Operating Expenses        
Consulting Fees 238,973 458,233 733,237 1,324,969
General and Administrative 3,112,438 1,414,838 4,507,854 4,648,194
Abandonment of Option to Purchase Building 200,000
Impairment of leasehold improvements and rent deposits 654,426
Impairment of fixed assets and construction in progress 300,631 388,874
Professional Fees 60,374 155,375 266,668 703,408
Depreciation Expense 59,143 56,977 155,451 158,146
Stock Based Compensation (Note 3)        
Consulting Fees 16,547,800 17,182,907
Share Exchange and Ancillary Rights Agreement 1,166,700
Director Fees 47,000 77,087
Professional Fees 282,000 690,000
Total Stock based compensation 16,876,800 19,116,694
Total Operating Expenses 3,771,559 18,962,223 6,052,084 26,805,837
Loss from Operations (2,266,187) (17,636,721) (1,929,694) (22,653,495)
Other Income (Expenses)        
Rent Income 31,500 88,756
Option Fee 25,000  
Unrealized gain on investments (128,337) (6,442,370) 25,885 (7,244,476)
Total Other Income (Expenses) (128,337) (6,410,870) 50,885 (7,155,720)
Loss From Operations Before Provision for Income Taxes (2,394,524) (24,047,591) (1,878,809) (29,809,215)
Provision for Income Taxes (Note 4)
Net Loss (2,394,524) (24,047,591) (1,878,809) (29,809,215)
Net Loss Attributable to Non-Controlling Interest (155,744) (34,001) (192,182) (512,819)
Net Loss Attributable to GSRX Industries Inc. $ (2,238,780) $ (24,013,590) $ (1,686,627) $ (29,296,396)
Basic and diluted loss per share $ (0.03) $ (0.33) $ (0.02) $ (0.49)
Weighted average number of common shares outstanding - basic and diluted 81,799,286 73,793,792 81,799,286 59,764,667

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