Income Statement
Consolidated Statements of Operations (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2020 |
Sep. 30, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
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| 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 |
| X | ||||||||||
- Definition Abandonment of option to purchase building. No definition available.
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- Definition Consulting fees. No definition available.
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- Definition Consulting Fees. No definition available.
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- Definition Director Fees. No definition available.
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- Definition Impairment of fixed assets and construction in progress. No definition available.
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- Definition Option Fee, Non Operating. No definition available.
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- Definition Professional fees. No definition available.
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- Definition Share Exchange and Ancillary Rights Agreement. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The adjustment to reduce the value of existing agreements that specify the lessee's rights to use the leased property. This expense is charged when the estimates of future profits generated by the leased property are reduced. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Income earned by providing the use of assets to an outside party in exchange for a payment or series of payments that is nonoperating in nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of unrealized gain (loss) on investment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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