What changed in this filing

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Item 1. Financial Statements

2021-11-15 compared with 2021-07-07 · 97 added, 95 removed, 235 unchanged (45% of the section changed)

2 unchanged sentences

Balance Sheets (Unaudited)

of June 30, 2021 and December 31, 2020

of September 30, 2021 and December 31, 2020

September 30,

CURRENT ASSETS:

11 unchanged sentences

STOCKHOLDERS’ EQUITY

Common stock, 40,000,000 shares authorized at $ 0.001 par value, 31,278,906 and 30,610,240 shares issued and outstanding, at June 30, 2021 and December 31, 2020, respectively

Common stock, 40,000,000 shares authorized at $ 0.001 par value, 30,809,080 and 30,610,240 shares issued and outstanding, at September 30, 2021 and December 31, 2020, respectively

Additional paid in capital

7 unchanged sentences

Statements of Operations (Unaudited)

the Three Months Ended June 30, 2021 and 2020

the Three Months Ended September 30, 2021 and 2020

Cost of Revenue

1 unchanged sentence

Selling, general and administrative

Income from Operations

Income Before Provision for Income Taxes

Provision for Income Taxes

Net Income per common share, basic and diluted

Income/(Loss) from Operations

Income/(Loss) Before Provision for Income Taxes

Benefit/(Provision) for Income Taxes

Net Income/(Loss)

Net Income/(Loss) per common share, basic and diluted

Weighted average number of common shares outstanding, basic and diluted

2 unchanged sentences

Statements of Operations (Unaudited)

the Six Months Ended June 30, 2021 and 2020

the Nine Months Ended September 30, 2021 and 2020

Cost of Revenue

10 unchanged sentences

Statements of Cash Flows (Unaudited)

the Six Months Ended June 30, 2021 and 2020

the Nine Months Ended September 30, 2021 and 2020

Cash flows from operating activities:

6 unchanged sentences

Increase in inventory

Increase in supplier deposits

Decrease/(Increase) in supplier deposits

Decrease/(Increase) in prepaid expenses and security deposit

1 unchanged sentence

Increase/(Decrease) in accrued payroll to officers

Net cash (used in)/provided by operating activities

Net cash provided by/(used in) operating activities

Net cash provided by/ (used in) financing activities:

6 unchanged sentences

of non-cash investing and financing activity:

During the six-month period ended June 30, 2021 the Company issued a total of 668,666

Restricted and Non-Trading shares with an implied

value of $ 110,470

to directors and officers to settle obligations

During the nine-month period ended September 30, 2021 the Company issued a total of

929,666 Restricted and Non-Trading shares with an implied value of $ 147,656 to directors and officers to settle obligations payable.

accompanying notes are an integral part of these financial statements.

1 unchanged sentence

Statements of Changes in Stockholders’ Equity (Unaudited)

the Six Months Ended June 30, 2021

the Nine Months Ended September 30, 2021

Additional Paid-In

Stockholders’

December 31, 2020

Balance, December 31, 2020

$ ( 23,430,337 )

issued to Directors and employees

June 30, 2021

Stock issued to Directors and employees

Stock repurchased and returned to Treasury

Balance, September 30, 2021

$ ( 23,338,346 )

5 unchanged sentences

engages in new product development, production, marketing, distribution and sales of beverage brands that are Non-GMO Project Verified

Company’s flagship product is MOJO Pure Coconut Water.

In addition to Pure Coconut Water, the Company produces Sparkling Coconut

Water, Coconut Water + Mango Juice, Coconut Water + Pineapple Juice and Pure Organic Coconut Water.

We seek to grow the market share

of our products by expanding our hybrid distribution network through the relationships and efforts of our management and third-party

partners and improved broker network, and new products and packaging in 2021.

The company predominantly packages its beverages in 100%

recyclable, Eco-Friendly packaging that can be recycled infinite times and is not made from carbon oil-based packaging.

The packaging

has a very low impact on the environment, and does not contribute to landfills and the pollution of our bodies of water.

and USDA Organic.

Company’s flagship product is MOJO Coconut Water.

In addition to Coconut Water, the Company produces Sparkling Coconut Water, Coconut

Water + Mango Juice, Coconut Water + Pineapple Juice and Organic Coconut Water.

We seek to grow the market share of our products by expanding

our hybrid distribution network through the relationships and efforts of our management and third-party partners and broker

network, and new products and packaging.

The company packages its beverages in 100% recyclable, Eco-Friendly packaging

that can be recycled infinite times and is not made from carbon oil-based packaging.

The packaging has a very low impact on the environment,

and does not contribute to landfills and the pollution of our bodies of water.

and Distribution

Company’s flagship product is MOJO Pure Coconut Water.

In addition to Pure Coconut Water, the Company produces Sparkling Coconut

Water, Coconut Water + Mango Juice, Coconut Water + Pineapple Juice, and Pure Organic Coconut Water.

We seek to grow the market share

of our products by expanding our hybrid distribution network through the relationships and efforts of our management and third-party

partners an improved broker network, and new products and packaging in 2021.

The company packages its beverages in 100% recyclable, Eco-Friendly

packaging that can be recycled infinite times and is not made from carbon oil-based packaging.

The packaging has a very low impact on

the environment, and does not contribute to landfills and the pollution of our bodies of water.

Company’s flagship product is MOJO Coconut Water.

In addition to Coconut Water, the Company produces Sparkling Coconut Water, Coconut

Water + Mango Juice, Coconut Water + Pineapple Juice, and Organic Coconut Water.

We seek to grow the market share of our products by

expanding our hybrid distribution network through the relationships and efforts of our management and third-party partners and

broker network, and new products and packaging.

The company packages its beverages in 100% recyclable, Eco-Friendly packaging

that can be recycled infinite times and is not made from carbon oil-based packaging.

The packaging has a very low impact on the environment,

and does not contribute to landfills and the pollution of our bodies of water.

Company has multiple sources for its production.

3 unchanged sentences

Currently, the Company has multiple production facilities that it could source products from, each

of the facilities could supply our forecasted demand for 2021.

of the facilities could supply our forecasted demand.

beverage industry is competitive.

8 unchanged sentences

The Company’s production facilities are subject to FDA regulation.

of June 30, 2021, the Company has two employees.

of September 30, 2021, the Company has two employees.

The Company also uses the services of contractors, consultants and other third-parties.

7 unchanged sentences

MOJO Organics Inc is headquartered in Jersey City,

and our internet site is www.MojoOrganicsInc.com.

MOJO’s stock is traded on the OTC Markets under the symbol MOJO.

New Jersey and our internet site is www.MojoOrganicsInc.com.

MOJO’s stock is traded on the OTC Markets under the symbol

Financial Statements

7 unchanged sentences

GAAP and SEC regulations for interim financial statements.

The results for the three months ended June 30, 2021 are not necessarily indicative

of the results that the Company will have for any subsequent period.

These unaudited condensed financial statements should be read in

conjunction with the audited financial statements and the notes to those statements for the year ended December 31, 2020 included in

the Company’s Annual Report on Form 10-K.

The results for the three and nine months ended September 30, 2021 are not

necessarily indicative of the results that the Company will have for any subsequent period.

These unaudited condensed financial statements

should be read in conjunction with the audited financial statements and the notes to those statements for the year ended December 31,

2020 included in the Company’s Annual Report on Form 10-K.

2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 unchanged sentences

equivalents include investment instruments and time deposits purchased with a maturity of three months or less.

As of June 30, 2021,

and June 30, 2020, the Company did no t have any cash equivalents.

As of September 30, 2021,

and September 30, 2020, the Company did no t have any cash equivalents.

receivable are stated at the amount management expects to collect from outstanding balances.

1 unchanged sentence

amounts based upon its assessment of the current status of the individual receivables and after using reasonable collection efforts.

The allowance for doubtful accounts as of June 30, 2021 and 2020 was zero .

consisting solely of finished goods, are stated at the lower of cost (first-in, first-out method) or net realizable value (“NRV”).

If necessary, the Company provides allowances to adjust the carrying value of its inventories to NRV when NRV is below cost.

no such adjustments in 2021 or 2020.

The allowance for doubtful accounts as of September 30, 2021 and 2020 was zero .

consisting solely of finished goods, are stated at the lower of cost

(first-in, first-out method) or net realizable value (“NRV”).

If necessary, the Company provides allowances to adjust the

carrying value of its inventories to NRV when NRV is below cost.

There were no such adjustments in 2021 or 2020.

from sales of products is recognized when the related performance obligation is satisfied.

9 unchanged sentences

and Handling Costs

and Handling Costs incurred to move finished goods from our sales distribution centers to customer locations are included in the line

and Handling Costs incurred to move finished goods from our distribution center to customer locations are included in the line

Selling, General and Administrative Expenses in our Statements of Operations.

10 unchanged sentences

SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE

As of June 30,

As of September 30

Shares underlying options outstanding

Glenn Simpson

Net Operating Loss Carryforwards for federal taxes was $ 3,729,852

at June 30, 2021 and $ 3,729,852

for the State of New Jersey.

Tax Assets for federal taxes was $ 783,269

at June 30, 2021 and $ 335,687

for the State of New Jersey.

Net Operating Loss Carryforwards for federal taxes was $ 3,695,829 at September 30, 2021 and $ 3,695,829 for the State of New Jersey.

Deferred Tax Assets for federal taxes was $ 776,124 at September 30, 2021 and $ 332,625 for the State of New Jersey.

The total Deferred

Tax Assets was $ 1,118,956 at

June 30, 2021.

The Deferred Tax assets have been fully reserved by valuation allowances beyond that portion which is expected to offset

current taxes.

As of June 30, 2021, the Company’s Federal income tax payable at the corporate tax rate of 21 %

would be $ 43,181

and State Income Tax payable at 9 %

tax rate would be $ 18,506

if this had not been offset by the deferred

Tax Assets was $ 1,108,749 at September 30, 2021.

The Deferred Tax assets have been fully reserved by valuation allowances beyond that

portion which is expected to offset current taxes.

As of September 30, 2021, the Company’s Federal income tax payable at the corporate

tax rate of 21 % would be $ 50,326 and State Income Tax payable at 9 % tax rate would be $ 21,568 if this had not been offset by the deferred

Company provides for income taxes using the asset and liability approach in accounting for income taxes.

5 unchanged sentences

The Company did no t have a deferred

tax liability at June 30, 2021 and June 30, 2020.

of June 30, 2021 and June 30, 2020, the Company had no accrued interest or penalties because there were none.

The Company had no Federal

or State tax examinations in the past nor does it have any at the current time.

tax liability at September 30, 2021 and September 30, 2020.

of September 30, 2021 and September 30, 2020, the Company had no accrued interest or penalties because there were none.

The Company had

no Federal or State tax examinations in the past nor does it have any at the current time.

Company accounts for equity based transactions under the provisions of ASC Topic 718, “ Accounting for Stock-Based Compensation”.

22 unchanged sentences

time of termination, payable for the remainder of the current term.

As of June 30, 2021, there are 45 months remaining on the Agreement.

As of September 30, 2021, there are 42 months remaining on the Agreement.

The Company’s liability on the remainder of the Agreement is $ 210,000 for the cash portion of Mr.

1 unchanged sentence

shares of non-trading, restricted Common Stock.

the six months ended June 30, 2021, the Mr.

Simpson was issued 402,000 Restricted and Non-Trading shares of Common Stock under the terms

of the Agreement for the stock portion of his compensation.

the nine months ended September 30, 2021, the Mr.

Simpson was issued 603,000 Restricted and Non-Trading shares of Common Stock under

the terms of the Agreement for the stock portion of his compensation.

Refer to Note 4 – Restricted Stock Issuances.

1 unchanged sentence

June 2021, the Company decreased its Authorized Shares from 190,000,000

190,000,000 to 40,000,000 shares.

Currently, there are 31,278,906 shares outstanding and no other classes of stock.

to 40,000,000

Currently, there are 30,809,080

shares outstanding and no other classes of stock.

This was a reduction of 150,000,000 in Authorized Shares.

Stock Issuances

the six months ended June 30, 2021, 668,666 shares of Restricted and Non-Trading Common Stock were issued to Directors and Officers of

These shares have full voting rights but are restricted for sale or transfer.

The CEO exercised options to purchase 187,500

shares at $ 0.16 per share for a total exercise price of $ 30,000 which reduced the accrued salary payable to the CEO by the same amount.

the nine months ended September 30, 2021, 929,666

shares of Restricted and Non-Trading Common Stock

were issued to Directors and Officers of the Company.

These shares have full voting rights but are restricted for sale and transfer.

CEO exercised options to purchase 187,500 shares at $ 0.16 per share for a total exercise price of $ 30,000 which reduced the accrued salary

payable to the CEO by the same amount.

CEO was also issued 603,000 shares of Restricted and Non-Trading Common Stock for the stock portion of his salary.

20 unchanged sentences

(Ian Thompson has not complied with the Company’s demand to have the physical certificates returned.)

SCHEDULE OF CANCELLATION OF SHARES

Certificate No(s)

OF CANCELLATION OF SHARES

Registered To

1 unchanged sentence

Option Activity

September 24, 2021, the Company extended the expiration date of the options granted to Mr.

Glenn Simpson from April 6, 2022

to April 6, 2024.

May 19, 2021, Mr.

9 unchanged sentences

Days to Expiration

Exercise Price

Outstanding, December 31, 2020

1 unchanged sentence

Glenn Simpson

Exercisable, June 30, 2021

Exercisable, September 30, 2021

Glenn Simpson

the six months ended June 30, 2021 and 2020, compensation expense related to stock options was $ 0 .

As of June 30, 2021, there was no

unrecognized compensation cost related to non-vested stock options.

the nine months ended September 30, 2021 and 2020, compensation expense related to stock options was $ 0 .

As of September 30, 2021,

there was no unrecognized compensation cost related to non-vested stock options.

6 – RELATED PARTY TRANSACTIONS

March 24, 2021 the CEO of the Company exercised 93,750 stock options at an exercise price of $ 0.16 .

May 19, 2021 the CEO of the Company exercised 93,750 stock options at an exercise price of $ 0.16 .

The Company issued 93,750 Restricted

and Non-Trading shares of Common Stock, and the accrued payroll owed to him was reduced by $ 15,000 .

May 19, 2021 the CEO of the Company exercised 93,750 stock options at an exercise price of $ 0.16 .

March 24, 2021 the CEO of the Company exercised 93,750 stock options at an exercise price of $ 0.16 .

The Company issued 93,750 Restricted

and Non-Trading shares of Common Stock, and the accrued payroll owed to him was reduced by $ 15,000 .

of June 30, 2021, the Company owes the CEO $ 19,000 for a non-interest bearing loan.

This was subsequently paid in July.

7 – SBA LOANS “CARES ACT”

5 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements