Firma : FS Q3 2021 Quarterly Report

FIRMA HOLDINGS CORP. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

AS OF AND FOR THE

THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020

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TABLE OF CONTENTS
	Page
FINANCIAL STATEMENTS:
Consolidated Balance Sheets.......................................................................................................................................	3
Consolidated Statements of Operations.......................................................................................................................	4
Consolidated Statements of Stockholders' Equity.......................................................................................................	5
Consolidated Statements of Cash Flows .....................................................................................................................	7
Notes to the Consolidated Financial Statements..........................................................................................................	8-20

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FIRMA HOLDINGS CORP. AND SUBSIDIARIES

(formerly known as Tara Minerals Corp.) (An Exploration Stage Company)

UNAUDITED CONSOLIDATED BALANCE SHEETS

Assets	September 30, 2021	December 31, 2020
Current assets:
Cash and cash equivalents	$	121,921			$	1,292
Trade receivables		58,000				58,000
Prepaid assets		343,708				-
Inventory		10,000				-
Assets held for disposal, net		-				13,365
Deposit		3,945,000				-
Notes receivable, current		48,875				-
Notes receivable, related parties		123,785				3,200
Total current assets		4,651,290				75,587
Goodwill		195,627				242,877
Other		73				23
Total assets	$	4,846,989			$	318,757
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable and accrued expenses	$	1,703,648			$	3,425,045
Notes payables, current portion		1,603,582				4,370,423
Convertible notes payable, net		375,105				574,509
Total current liabilities		3,682,335				8,369,977
Notes payable, non-curent portion		4,211,165				4,261,521
Convertible notes payable, non-curent portion, net		409,208				168,872
Total liabilities		8,302,708				12,800,370
Stockholders' equity:
Preferred stock undesignated: $0.01 par value, authorized 25,000,000
shares; -0- issued and outstanding			-				-
Preferred stock Class A: $0.01 par value, authorized 75,000,000 shares;
75,000,000 issued and outstanding		75,000				-
Common stock: $0.001 par value; authorized 400,000,000 shares; issued
and outstanding 321,845,912 and 162,145,696 shares			321,846				162,146
Additional paid-in capital		54,329,560				44,582,392
Common stock payable		709,629				828,750
Accumulated deficit		(58,891,754)			(58,054,901)
Total Firma Holdings stockholders' equity
	(3,455,719)			(12,481,613)
Total liabilities and stockholders' equity		$	4,846,989			$	318,757

See accompanying notes to these consolidated financial statements.

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FIRMA HOLDINGS CORP. AND SUBSIDIARIES

(formerly known as Tara Minerals Corp.) (An Exploration Stage Company)

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

		For the Three Months Ended		For the Nine Months Ended
				September 30,		September 30,
				2021					2020			2021				2020
Mining revenues	$	-				$	-		$	-			$	-
Cost of revenue				-					-			-				-
Gross margin				-					-			-				-
Exploration expenses				-					-			-				-
Operating, general and administrative expenses				272,531					3,581			460,680				(69,658)
Net operating loss (income)				272,531					3,581			460,680				(69,658)
Non-operating (loss) income:
Interest income				1,214					-			3,643				-
Interest expense				(111,876)				(139,366)			(1,358,499)			(419,389)
Gain on debt extinguishment				-					-			994,193				-
Unrealized gain on cash equivalents				18,144					-			(5,952)				-
Change in derivative liability				2,929					-			-				-
Total non-operating loss				(89,589)					(139,366)			(366,615)				(419,389)
Loss before income taxes				(362,120)					(142,947)			(827,295)				(349,731)
Income tax provision				-					-			-				-
Loss before discontinued operations				(362,120)					(142,947	)		(827,295)				(349,731)
Loss from discontinued operations, including
loss on disposal				-					-			(9,558)				-
Net loss			$	(362,120)				$	(142,947)		$	(836,853)			$	(349,731)
Net loss per share before discontinued operations,								$	(0.00						$	(0.00)
basic and dilutive			$	(0.00)				)	$	(0.00)
Discontinued operations, basic and dilutive			$	(0.00)				$	(0.00	)	$	(0.00)			$	(0.00	)
Net loss per share, basic and dilutive			$	(0.00)				$	(0.00	)	$	(0.00)			$	(0.00)
Weighted average number of shares, basic and
dilutive	323,786,129					122,145,696			251,009,575				122,145,696

See accompanying notes to these consolidated financial statements.

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FIRMA HOLDINGS CORP. AND SUBSIDIARIES (Formerly known as Tara Minerals Corp.)

(An Exploration Stage Company)

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

				Preferred Stock			Common Stock		Additional	Common Stock		Accumulated
															Paid-In		Payable
				Shares			Amount			Shares		Amount		Capital		(Receivable)		Deficit		Total
	Balance at December 31, 2019			-		$	-		122,145,696		$ 122,146		$	44,332,270		$	775,000			$(31,100,940)		$	14,128,476
	Cash for stock	-		-		-	-		-		50,000	-		50,000
	Stock for services	-		-		-	-		-		3,750	-		3,750
	Deconsolidation adjustment	-		-		-	-		-		-	(11,990,476)		(11,990,476)
	Beneficial conversion feature on convertible
	notes payable				-			-		-		-			38,122			-			-			38,122
	Stock issued in purchase of subsidiary			-			-		40,000,000		40,000			212,000			-			-			252,000
	Net loss				-			-		-		-				-		-			(14,963,487)			(14,963,487)
	Balance at December 31, 2020			-			-		162,145,696		$ 162,146			44,582,392			828,750			(58,054,901)			(12,481,615)

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