2023 Q2 Form 10-Q Financial Statement

#000121390023039843 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $414.1K $515.2K $510.7K
YoY Change -23.38% 0.88% 228.11%
Cost Of Revenue $209.1K $245.4K $249.6K
YoY Change -0.3% -1.71% 695.51%
Gross Profit $205.0K $269.9K $261.1K
YoY Change -38.01% 3.36% 110.09%
Gross Profit Margin 49.51% 52.38% 51.12%
Selling, General & Admin $768.9K $785.2K $1.925M
YoY Change 5.04% -59.2% -61.25%
% of Gross Profit 375.12% 290.98% 737.15%
Research & Development $0.00 $0.00
YoY Change -100.0%
% of Gross Profit 0.0% 0.0%
Depreciation & Amortization $20.55K $20.85K $22.91K
YoY Change -9.71% -8.99% 827.53%
% of Gross Profit 10.02% 7.73% 8.78%
Operating Expenses $776.8K $793.5K $1.935M
YoY Change 4.67% -58.99% -61.07%
Operating Profit $3.480M -$523.6K -$1.674M
YoY Change -945.66% -68.72% -65.46%
Interest Expense $166.2K $195.8K -$248.6K
YoY Change -54.13% -178.76% 1252.45%
% of Operating Profit 4.78%
Other Income/Expense, Net $294.4K -$199.5K
YoY Change
Pretax Income $3.774M -$723.1K -$1.919M
YoY Change -473.93% -62.33% -60.54%
Income Tax
% Of Pretax Income
Net Earnings $3.774M -$723.1K -$1.919M
YoY Change -473.93% -62.33% -60.54%
Net Earnings / Revenue 911.54% -140.35% -375.83%
Basic Earnings Per Share $0.01 $0.00 -$0.01
Diluted Earnings Per Share $0.00 $0.00 -$6.717K
COMMON SHARES
Basic Shares Outstanding 505.0M shares 447.7M shares 283.8M shares
Diluted Shares Outstanding 2.349B shares 425.0M shares 283.8M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.512M $82.98K $170.1K
YoY Change 518.09% -51.22% 5.88%
Cash & Equivalents $1.512M $82.98K $170.1K
Short-Term Investments
Other Short-Term Assets $66.95K $88.85K $39.62K
YoY Change -38.77% 124.26% -47.62%
Inventory $119.1K $59.35K $63.08K
Prepaid Expenses $16.95K
Receivables $133.3K $198.7K $310.4K
Other Receivables $0.00 $0.00 $3.750K
Total Short-Term Assets $1.831M $429.9K $587.0K
YoY Change 174.75% -26.76% 49.28%
LONG-TERM ASSETS
Property, Plant & Equipment $79.05K $88.08K $389.5K
YoY Change -31.03% -77.39% 1455.01%
Goodwill $350.5K $350.5K
YoY Change 0.0%
Intangibles $254.7K $267.3K
YoY Change -16.55%
Long-Term Investments $0.00 $7.780K $6.480K
YoY Change -100.0% 20.06% -9.12%
Other Assets
YoY Change
Total Long-Term Assets $870.8K $1.060M $1.064M
YoY Change -27.9% -0.37% 3207.3%
TOTAL ASSETS
Total Short-Term Assets $1.831M $429.9K $587.0K
Total Long-Term Assets $870.8K $1.060M $1.064M
Total Assets $2.702M $1.490M $1.651M
YoY Change 44.15% -9.75% 288.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $729.7K $828.5K $853.3K
YoY Change -12.03% -2.91% -7.49%
Accrued Expenses $390.8K $859.5K $937.4K
YoY Change -23.99% -8.31% 54.86%
Deferred Revenue
YoY Change
Short-Term Debt $1.031M $1.195M $378.1K
YoY Change 155.22% 215.98%
Long-Term Debt Due $83.21K $1.592M $640.0K
YoY Change -92.63% 148.78% 16.92%
Total Short-Term Liabilities $2.907M $5.020M $2.855M
YoY Change -16.01% 75.85% 37.58%
LONG-TERM LIABILITIES
Long-Term Debt $5.550K $625.7K $530.3K
YoY Change -97.95% 17.99% 5940.21%
Other Long-Term Liabilities $128.7K $227.7K $210.5K
YoY Change -59.78% 8.16%
Total Long-Term Liabilities $134.3K $853.4K $740.9K
YoY Change -77.28% 15.19% 8338.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.907M $5.020M $2.855M
Total Long-Term Liabilities $134.3K $853.4K $740.9K
Total Liabilities $3.041M $5.874M $3.772M
YoY Change -24.95% 55.72% 81.01%
SHAREHOLDERS EQUITY
Retained Earnings -$59.63M -$63.41M
YoY Change -1.35%
Common Stock $523.2K $447.7K
YoY Change 70.37%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$454.9K -$4.518M -$2.121M
YoY Change
Total Liabilities & Shareholders Equity $2.702M $1.490M $1.651M
YoY Change 44.15% -9.75% 288.2%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $3.774M -$723.1K -$1.919M
YoY Change -473.93% -62.33% -60.54%
Depreciation, Depletion And Amortization $20.55K $20.85K $22.91K
YoY Change -9.71% -8.99% 827.53%
Cash From Operating Activities -$622.0K -$291.0K -$503.8K
YoY Change 110.43% -42.24% 22.06%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $4.043M
YoY Change
Cash From Investing Activities $4.043M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.992M $276.9K 154.0K
YoY Change -638.34% 79.81% -38.41%
NET CHANGE
Cash From Operating Activities -622.0K -$291.0K -503.8K
Cash From Investing Activities 4.043M
Cash From Financing Activities -1.992M $276.9K 154.0K
Net Change In Cash 1.429M -$14.11K -349.8K
YoY Change 1819.05% -95.97% 114.95%
FREE CASH FLOW
Cash From Operating Activities -$622.0K -$291.0K -$503.8K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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134598 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-18100 usd
CY2022Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-19853 usd
CY2023Q1 cbnt Prepaid Expenses And Other Assets
PrepaidExpensesAndOtherAssets
-19639 usd
CY2022Q1 cbnt Prepaid Expenses And Other Assets
PrepaidExpensesAndOtherAssets
325 usd
CY2023Q1 cbnt Costs And Estimated Earnings In Excess
CostsAndEstimatedEarningsInExcess
-279 usd
CY2022Q1 cbnt Costs And Estimated Earnings In Excess
CostsAndEstimatedEarningsInExcess
-80265 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
48693 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
23816 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
123124 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
25482 usd
CY2023Q1 us-gaap Increase Decrease In Due To Other Related Parties
IncreaseDecreaseInDueToOtherRelatedParties
2466 usd
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
34317 usd
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
11583 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-13255 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
35627 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-290971 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-503769 usd
CY2023Q1 cbnt Proceeds From Sale Of Series C Preferred Stock
ProceedsFromSaleOfSeriesCPreferredStock
275000 usd
CY2022Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
175000 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
48136 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
21019 usd
CY2023Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
50000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
276864 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
153981 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14107 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-349788 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
97091 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
519898 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
82984 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
170110 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
33795 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
4754 usd
CY2023Q1 cbnt Common Stock Issued As Prepaid For Services
CommonStockIssuedAsPrepaidForServices
40000 usd
CY2023Q1 cbnt Common Stock Issued For Accrued Compensation
CommonStockIssuedForAccruedCompensation
78000 usd
CY2023Q1 cbnt Series B Preferred Stock Issued For Accrued Compensation
SeriesBPreferredStockIssuedForAccruedCompensation
144000 usd
CY2022Q1 cbnt Series B Preferred Stock Issued For Accrued Compensation
SeriesBPreferredStockIssuedForAccruedCompensation
278654 usd
CY2023Q1 cbnt Preferred Stock Dividend Accrued
PreferredStockDividendAccrued
13687 usd
CY2022Q1 cbnt Preferred Stock Dividend Accrued
PreferredStockDividendAccrued
14005 usd
CY2022Q1 cbnt Increase In Debt Discount And Paidin Capital For Beneficial Conversion Feature On Convertible Debt
IncreaseInDebtDiscountAndPaidinCapitalForBeneficialConversionFeatureOnConvertibleDebt
12963 usd
CY2023Q1 cbnt Conversion Of Series C Preferred Stock To Common Stock
ConversionOfSeriesCPreferredStockToCommonStock
101400 usd
CY2022Q1 cbnt Conversion Of Series C Preferred Stock To Common Stock
ConversionOfSeriesCPreferredStockToCommonStock
12000 usd
CY2022Q1 cbnt Common Stock Issued For Accouts Payable
CommonStockIssuedForAccoutsPayable
2174 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>NOTE 1 – <span style="text-decoration:underline">NATURE OF ORGANIZATION</span></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Nature of Organization</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">C-Bond Systems, Inc., together with its subsidiaries (the “Company”), is a materials development company and sole owner, developer, and manufacturer of the patented C-Bond technology. The Company is engaged in the implementation of proprietary nanotechnology applications and processes to enhance properties of strength, functionality, and sustainability of brittle material systems. The Company’s primary focus is in the multi-billion-dollar glass and window film industry with target markets in the United States and internationally. Additionally, the Company has expanded its product line to include disinfection products. The Company operates in two divisions: C-Bond Transportation Solutions and Patriot Glass Solutions. C-Bond Transportation Solutions sells a windshield strengthening, water repellent solution called C-Bond nanoShield™ as well as disinfection products. Patriot Glass Solutions sells multi-purpose glass strengthening primer and window film mounting solutions, including C-Bond BRS, a ballistic-resistant film system, and C-Bond Secure, a forced entry system.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 30, 2021, the Company entered into a Share Exchange Agreement and Plan of Reorganization (the “Exchange Agreement”) with (i) Mobile Tint LLC, a Texas limited liability company doing business as A1 Glass Coating (“Mobile”), (ii) the sole member of Mobile (the “Mobile Shareholder”), and (iii) Michael Wanke as the Representative of the Mobile Shareholder. Pursuant to the Exchange Agreement, the Company agreed to acquire 80% of Mobile’s units, representing 80% of Mobile’s issued and outstanding capital stock (the “Mobile Shares”). On July 22, 2021, the Company closed the Exchange Agreement and acquired 80% of the Mobile Shares. The Mobile Shares were exchanged for 28,021,016 restricted shares of the Company’s common stock in an amount equal to $800,000, divided by the average of the closing prices of the Company’s common stock during the 30-day period immediately prior to the closing. Two years after closing, the Company has the option to acquire the remaining 20% of Mobile’s issued and outstanding membership interests in exchange for a number of shares of the Company’s common stock equal to 300% of Mobile’s average EBIT value, divided by the price of the Company’s common stock as defined in the Exchange Agreement (the “Additional Closing”). Mobile provides quality window tint solutions for auto, home, and business owners across Texas, specializing in automotive window tinting, residential window film, and commercial window film that stop harmful UV rays from passing through its window films for reduced glare, comfortable temperatures, and lower energy bills. Mobile also carries products that offer forced-entry protection and films that protect glass from scratches, graffiti, other types of vandalism, and even bullets, including C-Bond BRS and C-Bond Secure products. As part of the transaction, Mobile’s owner-operator, Mr. Wanke, joined the Company as President of its Patriot Glass Solutions division.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 8, 2023, the Company entered into an Asset Purchase Agreement with a third-party entity (the “Buyer”), whereby the Company sold its C-Bond nanoShield product line to the Buyer for cash of $4,000,000. Accordingly, the Company assigned, transferred and delivered to the Buyer, free and clear of all liens, all of the Assets. The “Assets” shall be comprised of certain intangible assets, intellectual property, work In process, furniture, fixtures, equipment, inventory and other physical assets of the Company’s C-Bond nanoShield division. Following the Closing, the Parties shall reasonably cooperate to complete a transaction wherein the Company shall assign to Buyer, and Buyer shall take assignment from the Company, the lease for the premises located at 6035 South Loop East, Houston, Texas 77033 (the “Lease”) pursuant to a lease assignment and assumption agreement as to be reasonably agreed to by the parties and the lessor pursuant to the Lease. (See Note 16).</p>
CY2021Q2 cbnt Minority Interest Ownership Percentage
MinorityInterestOwnershipPercentage
0.80 pure
CY2021Q2 cbnt Issued And Outstanding Percent
IssuedAndOutstandingPercent
0.80 pure
CY2021Q3 cbnt Minority Interest Ownership Percentage
MinorityInterestOwnershipPercentage
0.80 pure
CY2021Q3 cbnt Restricted Shares Of Common Stock
RestrictedSharesOfCommonStock
28021016 shares
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Expected Dividend
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageExpectedDividend
800000 usd
CY2021Q3 cbnt Issued And Outstanding Interest
IssuedAndOutstandingInterest
0.20 pure
CY2021Q3 cbnt Common Stock Percentage
CommonStockPercentage
3 pure
CY2023Q2 cbnt Sales
Sales
4000000 usd
CY2021Q3 cbnt Consolidated Financial Statements Percentage
ConsolidatedFinancialStatementsPercentage
0.80 pure
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Estimates during the three months ended March 31, 2023 and 2022 include estimates for allowance for doubtful accounts on accounts receivable, the estimates for obsolete or slow moving inventory, estimates used in the calculation of progress towards completion on uncompleted jobs, the useful life of property and equipment, assumptions used in assessing impairment of long-term assets, the estimate of the fair value lease liability and related right of use asset, the valuation of redeemable and mandatorily redeemable preferred stock, the value of beneficial conversion features and deemed dividends, the valuation allowances for deferred tax assets, and the fair value of non-cash equity transactions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
26648 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
26648 usd
CY2023Q1 cbnt Beneficial Conversion Feature
BeneficialConversionFeature
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Beneficial Conversion Feature</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Convertible debt includes conversion terms that are considered in the money compared to the market price of the stock on the date of the related agreement. The Company calculates the beneficial conversion feature and records a debt discount with the amount being amortized to interest expense over the term of the note.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2023Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
3624 usd
CY2022Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
3121 usd
CY2023Q1 cbnt Costs Incurred
CostsIncurred
0 usd
CY2022Q1 cbnt Costs Incurred
CostsIncurred
0 usd
cbnt Research And Development Costs
ResearchAndDevelopmentCosts
4155 usd
cbnt Research And Development Costs
ResearchAndDevelopmentCosts
41818 usd
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1997216731 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
526648041 shares
CY2023Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
234210 usd
CY2022Q4 us-gaap Accounts Receivable Gross
AccountsReceivableGross
304964 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
35522 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
35522 usd
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
198688 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
269442 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0 usd
CY2023Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
111 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1501 usd
CY2023Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
59235 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
75945 usd
CY2023Q1 us-gaap Inventory Gross
InventoryGross
59346 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
77446 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
59346 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
77446 usd
CY2022Q3 cbnt Current Exercise Price
CurrentExercisePrice
0.011
CY2022Q3 cbnt New Exercise Price
NewExercisePrice
0.009
CY2023Q1 us-gaap Goodwill
Goodwill
350491 usd
CY2022Q4 us-gaap Goodwill
Goodwill
350491 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12626 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
12626 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
263930 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
263930 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
175848 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
167624 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
88082 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
96306 usd
CY2023Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
8224 usd
CY2022Q1 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
10284 usd
CY2023Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y
CY2023Q1 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
212516 usd
CY2022Q4 us-gaap Finite Lived Customer Relationships Gross
FiniteLivedCustomerRelationshipsGross
212516 usd
CY2023Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P5Y
CY2023Q1 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
40000 usd
CY2022 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
40000 usd
CY2023Q1 us-gaap Finite Lived Trade Names Gross
FiniteLivedTradeNamesGross
100000 usd
CY2022Q4 us-gaap Finite Lived Trade Names Gross
FiniteLivedTradeNamesGross
100000 usd
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
352516 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
352516 usd
CY2023Q1 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
85224 usd
CY2022Q4 us-gaap Accumulated Amortization Of Other Deferred Costs
AccumulatedAmortizationOfOtherDeferredCosts
72598 usd
CY2023Q1 cbnt Finite Lived Intangible Assets Net1
FiniteLivedIntangibleAssetsNet1
267292 usd
CY2022Q4 cbnt Finite Lived Intangible Assets Net1
FiniteLivedIntangibleAssetsNet1
279918 usd
CY2022Q2 us-gaap Debt Instrument Convertible Conversion Price Decrease
DebtInstrumentConvertibleConversionPriceDecrease
0.011
CY2022Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.011
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.025
CY2022Q2 cbnt Deemed Dividents
DeemedDividents
3702 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
50503 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
50503 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
50503 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
15783 usd
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
167292 usd
CY2021Q4 cbnt Original Issue Discount Rate
OriginalIssueDiscountRate
0.10 pure
CY2021Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
825000 usd
CY2021Q4 cbnt Warrant To Purchase Shares Of Common Stock
WarrantToPurchaseSharesOfCommonStock
16500000 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.05
CY2021Q4 cbnt Conversion Shares Percent
conversionSharesPercent
0.50 pure
CY2021Q4 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
680000 usd
CY2021Q4 cbnt Original Issued Discount Rate
OriginalIssuedDiscountRate
75000 usd
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two And Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwoAndThree
60000 usd
CY2021Q4 us-gaap Legal Fees
LegalFees
10000 usd
CY2023Q1 cbnt Future Financings Percentage
FutureFinancingsPercentage
0.30 pure
CY2022Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
33000000 shares
CY2022Q2 cbnt Original Issue Discount Rate
OriginalIssueDiscountRate
0.10 pure
CY2022Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
825000 usd
CY2022Q2 us-gaap Long Term Debt Maturity Date
LongTermDebtMaturityDate
2022-10-15
CY2022Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.04 pure
CY2022Q2 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.0125
CY2022Q2 cbnt Conversion Price Per Share
ConversionPricePerShare
0.00875
CY2022Q4 cbnt Penalty Amount
PenaltyAmount
206250 usd
CY2022Q4 us-gaap Debt Instrument Redemption Price Percentage Of Principal Amount Redeemed
DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
0.25 pure
CY2022Q4 us-gaap Interest And Debt Expense
InterestAndDebtExpense
206250 usd
CY2022Q4 us-gaap Long Term Debt Percentage Bearing Variable Interest Rate
LongTermDebtPercentageBearingVariableInterestRate
0.18 pure
CY2022 cbnt Initial Note
InitialNote
1031250 usd
CY2022Q2 cbnt Warrant To Purchase Shares Of Common Stock
WarrantToPurchaseSharesOfCommonStock
16500000 shares
CY2022Q2 cbnt Warrant To Purchase Shares Of Common Stock
WarrantToPurchaseSharesOfCommonStock
33000000 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.025
CY2022Q4 cbnt Aggregate Noncash Debt Discount
AggregateNoncashDebtDiscount
680000 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2022Q3 us-gaap Debt Instrument Convertible Conversion Price Decrease
DebtInstrumentConvertibleConversionPriceDecrease
0.009
CY2022Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.009
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.009
CY2022Q3 cbnt Deemed Dividents
DeemedDividents
733 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
104250 usd
CY2022Q4 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
100000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two And Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwoAndThree
4250 usd
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.22 pure
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
64250 usd
CY2022Q4 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
60000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two And Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwoAndThree
4250 usd
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.22 pure
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
54250 usd
CY2023Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
50000 usd
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two And Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwoAndThree
4250 usd
CY2023Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.22 pure
CY2022Q4 us-gaap Debtor In Possession Financing Interest Rate On Borrowings Outstanding
DebtorInPossessionFinancingInterestRateOnBorrowingsOutstanding
1.15 pure
CY2023Q1 us-gaap Debtor In Possession Financing Interest Rate On Borrowings Outstanding
DebtorInPossessionFinancingInterestRateOnBorrowingsOutstanding
1.25 pure
CY2023Q1 cbnt Conversion Of Percentage
ConversionOfPercentage
0.65 pure
CY2022Q4 cbnt Excess Outstanding Shares Percentage
ExcessOutstandingSharesPercentage
0.0499 pure
CY2022Q4 cbnt Aggregate Debt Premium
AggregateDebtPremium
90731 usd
CY2023Q1 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
1593 usd
CY2022Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
206250 usd
CY2023Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
134162 usd
CY2022Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
83138 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1254000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1199750 usd
CY2023Q1 cbnt Add Put Premium
AddPutPremium
119943 usd
CY2022Q4 cbnt Add Put Premium
AddPutPremium
90731 usd
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
10625 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
7968 usd
CY2023Q1 cbnt Convertible Note Payable Net
ConvertibleNotePayableNet
1363318 usd
CY2022Q4 cbnt Convertible Note Payable Net
ConvertibleNotePayableNet
1282513 usd
CY2023Q1 cbnt Less Current Portion Of Convertible Note Payable
LessCurrentPortionOfConvertibleNotePayable
1194818 usd
CY2022Q4 cbnt Less Current Portion Of Convertible Note Payable
LessCurrentPortionOfConvertibleNotePayable
1031250 usd
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
168500 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
251263 usd
CY2023Q1 us-gaap Notes Payable
NotesPayable
1851244 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
1899380 usd
CY2023Q1 cbnt Note Payable Ppp Note
NotePayable_PppNote
18823 usd
CY2022Q4 cbnt Note Payable Ppp Note
NotePayable_PppNote
18823 usd
CY2023Q1 cbnt Total Notes Payable
TotalNotesPayable
1870067 usd
CY2022Q4 cbnt Total Notes Payable
TotalNotesPayable
1918203 usd
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
70638 usd
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
132961 usd
CY2023Q1 us-gaap Other Notes Payable
OtherNotesPayable
1799429 usd
CY2022Q4 us-gaap Other Notes Payable
OtherNotesPayable
1785242 usd
CY2023Q1 cbnt Less Current Portion Of Notes Payable
LessCurrentPortionOfNotesPayable
-1592207 usd
CY2022Q4 cbnt Less Current Portion Of Notes Payable
LessCurrentPortionOfNotesPayable
-1576438 usd
CY2023Q1 cbnt Notes Payable Longterm
NotesPayableLongterm
207222 usd
CY2022Q4 cbnt Notes Payable Longterm
NotesPayableLongterm
208804 usd
CY2018Q4 cbnt Proceeds From Notes Payables
ProceedsFromNotesPayables
400000 usd
CY2018Q4 cbnt Outstanding Interest Rate Percentage
OutstandingInterestRatePercentage
0.18 pure
CY2023Q1 cbnt Loan Agreement Description
LoanAgreementDescription
In the event that the Company’s accounts receivable balance plus inventory balance is less than paid principal balance of the Note as of December 31, 2018, the Company shall have 45 days (through and until February 15, 2019) to cure such violation and an establish accounts receivable plus inventory equal to the unpaid principal balance of the Note. Commencing March 31, 2019 and at all times thereafter through the remainder of the commitment period and for so long thereafter as there is any amount still due and owing under the Note, the Company must maintain an accounts receivable balances plus inventory such that the outstanding principal borrowed by Company under the Loan Agreement and Note is less than or equal to eighty five percent (85%) of accounts receivable plus fifty percent (50%) of inventory, all as measured at the same point in time. 
CY2023Q1 cbnt Note Balance Due
NoteBalanceDue
400000 usd
CY2023Q1 cbnt Outstanding Interest Rate Percentage
OutstandingInterestRatePercentage
0.18 pure
CY2023Q1 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
309995 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
292241 usd
CY2023Q1 cbnt Company Agreed
CompanyAgreed
200000 usd
CY2022Q4 us-gaap Shares Issued
SharesIssued
22000000 shares
CY2023Q1 cbnt Principal Amount
principalAmount
197500 usd
CY2022Q1 cbnt Accrued Interest Payables
AccruedInterestPayables
6217 usd
CY2022Q2 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
195000 usd
CY2022Q2 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
176000 usd
CY2022Q2 cbnt Original Issue Discount And Investor Legal Fees
OriginalIssueDiscountAndInvestorLegalFees
19000 usd
CY2022Q2 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
148420 usd
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1750000 shares
CY2022Q2 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
21060 usd
CY2022Q2 cbnt Outstanding Interest Rate Percentage
OutstandingInterestRatePercentage
0.08 pure
CY2022Q2 us-gaap Debt Instrument Description
DebtInstrumentDescription
GS Capital shall have the right at any time following an Event of Default to convert all or any part of the outstanding and unpaid principal, interest, penalties, and all other amounts under this Note at a conversion price of $0.011, subject to adjustment as defined in the GS Capital Note. The Company did not calculate a beneficial conversion feature since the GS Capital Note is contingently convertible upon default on the GS Capital Note. As of December 31, 2022, the Company is not in default on this note. In the event that following the Issue Date the closing trading price of the Company’s common stock is then being traded is below $0.011 per share for more than ten consecutive trading days, then the conversion price shall be equal to $0.004 per share. The GS Capital Note contains conversion limitations providing that a holder thereof may not convert the Note to the extent (but only to the extent) that, if after giving effect to such conversion, the holder or any of its affiliates would beneficially own in excess of 4.99% of the outstanding shares of the Company’s common stock immediately after giving effect to such conversion or exercise. A holder may increase or decrease its beneficial ownership limitation upon notice to the Company provided that in no event such limitation exceeds 9.99%, and that any increase shall not be effective until the 61st day after such notice. Events of default include, amongst other items, failure to pay principal or interest, bankruptcy, delisting of the Company’s stock, financial statement restatements, or if the Company effectuates a reverse split. Upon the occurrence of any event of default, the GS Capital Note shall become immediately and automatically due and payable and the Company shall pay to GS Capital, in full satisfaction of its obligations hereunder, an amount equal to: (a) the then outstanding principal amount of this note plus (b) accrued and unpaid interest on the unpaid principal amount of this note to the date of payment (the “mandatory prepayment date”) plus (y) default interest, if any, multiplied by 120%. On December 15, 2022, the Company and GS Capital entered into a letter agreement to extend the due date of the GS Capital June 2022 note by 60 days. Specifically, the maturity date of the GS Capital June 2022 note was extended to August 23, 2023 and the next payment due date was extended to February 28, 2023. Through December 31, 2022, the Company paid $53,512 of principal balance and during the three months ended March 31, 2023, paid principal balance of $19,592. On March 31, 2023, the principal balance due on the GS Capital Note amounted to $121,896 and accrued interest payable amounted to $10,150. On December 31, 2022, the principal balance due on the GS Capital Note amounted to $141,488 and accrued interest payable amounted to $7,471. In May 2023, the GS Capital June 2022 Note was paid in full (See Note 16).On July 26, 2022, the Company closed a Securities Purchase Agreement (“July 2022 Agreement”) with GS Capital, pursuant to which a Promissory Note (“GS Capital July 2022 Note”) was made to GS Capital in the aggregate principal amount of $195,000. The GS Capital July 2022 Note was purchased for $176,000, reflecting an original issuance discount of $19,000, and was funded on July 28, 2022 (less legal and other administrative fees). The Company received net proceeds of $158,920. The Company further issued GS Capital a total of 2,600,000 commitment shares (“July 2022 Commitment Shares”) as additional consideration for the purchase of the July 2022 Note. In addition, the Company issued 998,008 of its common stock to the placement agent as fee for the capital raise, respectively. The July Commitment Shares and the placement agent shares were recorded as a debt discount of $34,606 based on the relative fair value method to be amortized over the life of the Note. Additionally, the GS Capital July 2022 Note is convertible upon an event of default into common shares at an initial effective conversion price which was lower than the fair value of common shares based on the quoted closing price of the Company’s common stock on the measurement date. Principal and interest payments shall be made in 10 installments of $21,060 each beginning on the 90th-day anniversary following the issue date and continuing thereafter each 30 days for nine months. The GS Capital July 2022 Note matures 12 months after issuance and bears interest at a rate of 8% per annum. GS Capital shall have the right at any time following an Event of Default to convert all or any part of the outstanding and unpaid principal, interest, penalties, and all other amounts under the GS Capital July 2022 Note at a conversion price of $0.011, subject to adjustment as defined in the Note. The Company did not calculate a beneficial conversion feature since the GS Capital July 2022 Note is contingently convertible upon a default on the July 2022 Note. As of December 31, 2022, the Company is not in default on this note.
CY2022Q4 cbnt Company Paid
CompanyPaid
53512 usd
CY2023Q1 cbnt Company Paid
CompanyPaid
19592 usd
CY2022Q3 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
195000 usd
CY2022Q3 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
176000 usd
CY2022Q3 cbnt Original Issue Discount And Investor Legal Fees
OriginalIssueDiscountAndInvestorLegalFees
19000 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
158920 usd
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2600000 shares
CY2022Q3 us-gaap Shares Issued
SharesIssued
998008 shares
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
34606 usd
CY2022Q3 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
21060 usd
CY2022Q3 cbnt Outstanding Interest Rate Percentage
OutstandingInterestRatePercentage
0.08 pure
CY2022Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.011
CY2022Q3 us-gaap Class Of Warrant Or Right Reason For Issuing To Nonemployees
ClassOfWarrantOrRightReasonForIssuingToNonemployees
In the event that following the Issue Date the closing trading price of the Company’s common stock is then being traded is below $0.011 per share for more than ten consecutive trading days, then the conversion price shall be equal to $0.004 per share. The July 2022 Note contains conversion limitations providing that a holder thereof may not convert the Note to the extent (but only to the extent) that, if after giving effect to such conversion, the holder or any of its affiliates would beneficially own in excess of 4.99% of the outstanding shares of the Company’s common stock immediately after giving effect to such conversion or exercise. A holder may increase or decrease its beneficial ownership limitation upon notice to the Company provided that in no event such limitation exceeds 9.99%, and that any increase shall not be effective until the 61st day after such notice.
CY2022 cbnt Paid Principal
PaidPrincipal
34120 usd
CY2023Q1 cbnt Paid Principal
PaidPrincipal
19391 usd
CY2022Q4 us-gaap Notes And Loans Payable Current
NotesAndLoansPayableCurrent
160880 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
6441 usd
CY2022Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
195000 usd
CY2022Q3 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
176000 usd
CY2022Q3 cbnt Original Issue Discount And Investor Legal Fees
OriginalIssueDiscountAndInvestorLegalFees
19000 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
158920 usd
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
3300000 shares
CY2022Q3 us-gaap Shares Issued
SharesIssued
773626 shares
CY2023Q1 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
The September Commitment Shares and the placement agent shares were recorded as a debt discount of $30,326 based on the relative fair value method to be amortized over the life of the Note. Additionally, the September 2022 Note is convertible into common shares upon an event of default at an initial effective conversion price which was lower than the fair value of common shares based on the quoted closing price of the Company’s common stock on the measurement date. Principal and interest payments shall be made in 9 installments of $23,400 each beginning on the 120th-day anniversary following the issue date and continuing thereafter each 30 days for eight months. The September 2022 Note matures 12 months after issuance and bears interest at a rate of 8% per annum. GS Capital shall have the right at any time following an Event of Default to convert all or any part of the outstanding and unpaid principal, interest, penalties, and all other amounts under the September 2022 Note at a conversion price of $0.009, subject to adjustment as defined in the Note. The Company did not calculate a beneficial conversion feature since the GS Capital July 2022 Note is contingently convertible upon a default on the September 2022 Note. As of December 31, 2022, the Company is not in default on this note. In the event that following the Issue Date the closing trading price of the Company’s common stock is then being traded is below $0.009 per share for more than ten consecutive trading days, then the conversion price shall be equal to $0.0032 per share. The September 2022 Note contains conversion limitations providing that a holder thereof may not convert the Note to the extent (but only to the extent) that, if after giving effect to such conversion, the holder or any of its affiliates would beneficially own in excess of 4.99% of the outstanding shares of the Company’s common stock immediately after giving effect to such conversion or exercise. A holder may increase or decrease its beneficial ownership limitation upon notice to the Company provided that in no event such limitation exceeds 9.99%, and that any increase shall not be effective until the 61st day after such notice. On December 15, 2022, the Company and GS Capital entered into a letter agreement to extend the due date of the GS Capital September 2022 note by 60 days. Specifically, the maturity date of the GS Capital September 2022 note was extended to November 6, 2023 and the next payment due date was extended to March 6, 2023. On March 31, 2023, the principal balance due on the GS Capital September 2022 Note amounted to $195,000 and accrued interest payable amounted to $8,847. On December 31, 2022, the principal balance due on the GS Capital September 2022 Note amounted to $195,000 and accrued interest payable amounted to $5,001.
CY2023Q1 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
195000 usd
CY2022Q4 cbnt Common Stock
commonStock
112500 shares
CY2022 cbnt Loss On Debt Extinguishment
lossOnDebtExtinguishment
112500 usd
CY2021Q2 cbnt Secured Promissory Note Amount
SecuredPromissoryNoteAmount
500000 usd
CY2021Q2 cbnt Annual Accrued Interest Percentage
AnnualAccruedInterestPercentage
0.08 pure
CY2021Q2 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.18 pure
CY2021Q3 cbnt Capital Lease Amount
CapitalLeaseAmount
95013 usd
CY2023Q1 cbnt Notes Payable Vehicles And Equipment Loans
NotesPayableVehiclesAndEquipmentLoans
30360 usd
CY2022Q4 cbnt Notes Payable Vehicles And Equipment Loans
NotesPayableVehiclesAndEquipmentLoans
39513 usd
CY2022Q4 cbnt Received Net Proceed
ReceivedNetProceed
200000 usd
CY2022Q4 cbnt Outstanding Interest Rate Percentage
OutstandingInterestRatePercentage
0.08 pure
CY2023Q1 cbnt Promissory Note Amounted
PromissoryNoteAmounted
6312 usd
CY2022 cbnt Promissory Note Amounted
PromissoryNoteAmounted
2367 usd
CY2023Q1 cbnt Principal Amount
PrincipalAmount
200000 usd
CY2023Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
62323 usd
CY2022 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1477 usd
CY2023Q1 cbnt Operating Leases Future Minimum Payment Due In Four Years
OperatingLeasesFutureMinimumPaymentDueInFourYears
1662845 usd
CY2023Q1 cbnt Operating Leases Future Minimum Payment Due In Four And Five Years
OperatingLeasesFutureMinimumPaymentDueInFourAndFiveYears
207222 usd
CY2023Q1 cbnt Operating Leases Future Minimum Payment Due Thereafter
OperatingLeasesFutureMinimumPaymentDueThereafter
1870067 usd
CY2022Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
957556 usd
CY2023Q1 cbnt Accrued Dividend Payable
AccruedDividendPayable
36577 usd
CY2023Q1 us-gaap Dividends Cash
DividendsCash
8169 usd
CY2022Q1 us-gaap Dividends Cash
DividendsCash
9147 usd
CY2022 cbnt Accrued Dividend Payable
AccruedDividendPayable
74731 usd
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
300000
CY2023Q1 cbnt Cash Payments
CashPayments
275000 usd
CY2023Q1 cbnt Conversion
Conversion
25000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
53000 shares
CY2023Q1 cbnt Accrued Compensations
AccruedCompensations
9636364 shares
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
500000 shares
CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
14250 usd
CY2022Q1 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.0285
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
12137 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
42702 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
4046 usd
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
16970120 shares
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.119
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
16970120 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
0.119
CY2022Q1 cbnt Conversion Of Stock Shares Issued
ConversionOfStockSharesIssued
823529 shares
CY2022Q1 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
823529 shares
CY2022Q1 cbnt Amortization Of Debt Discount
AmortizationOfDebtDiscount
12963 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0 usd
CY2023Q1 cbnt Voting Percentage
VotingPercentage
0.10 pure
CY2023Q1 cbnt Fair Market Percentage
FairMarketPercentage
1.10 pure
cbnt Reported Revenue
ReportedRevenue
102569 usd
cbnt Bad Debt Expenses
BadDebtExpenses
102569 usd
CY2021Q3 us-gaap Bankruptcy Claims Amount Of Claims Settled
BankruptcyClaimsAmountOfClaimsSettled
16000 usd
CY2023Q1 us-gaap Compensated Absences Liability
CompensatedAbsencesLiability
18250 usd
CY2022Q4 us-gaap Compensated Absences Liability
CompensatedAbsencesLiability
18250 usd
CY2021Q1 cbnt Bonus To Officers And Employee
BonusToOfficersAndEmployee
330000 usd
CY2021Q3 us-gaap Salaries And Wages
SalariesAndWages
240000 usd
CY2021Q3 cbnt Base Salaries Percentage
BaseSalariesPercentage
0.50 pure
CY2023Q1 cbnt Base Salary Bonus Percentage
BaseSalaryBonusPercentage
0.50 pure
CY2022Q4 cbnt Aggregate Amount
AggregateAmount
160000 usd
CY2022Q4 us-gaap Other Commitments Description
OtherCommitmentsDescription
This bonus will be paid 10% in cash ($16,000) which was paid in December 2022 and 90% in equity amounting to $144,000 which as of December 31, 2022 had been accrued and as of December 31, 2022, was included in accrued compensation on the accompanying consolidated balance sheet.
CY2023Q1 cbnt Bonus Owed Executive Officers
BonusOwedExecutiveOfficers
144000 usd
CY2023Q1 us-gaap Preferred Stock Dividends Shares
PreferredStockDividendsShares
144 shares
CY2016Q4 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.85
CY2023Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
us-gaap Payments For Rent
PaymentsForRent
4577 usd
CY2023Q1 us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
On May 12, 2021 and effective June 1, 2021
CY2023Q1 cbnt Number Of Customer
NumberOfCustomer
2 pure
CY2023Q1 cbnt Customer Accounted Sales Percentage
CustomerAccountedSalesPercentage
0.36 pure
CY2022Q1 cbnt Number Of Customers
NumberOfCustomers
3 pure
CY2023Q1 cbnt Number Of Customers
NumberOfCustomers
1 pure
CY2023Q1 cbnt Concentration Risk Percentage
ConcentrationRiskPercentage
0.669 pure
CY2022 cbnt Number Of Suppliers
NumberOfSuppliers
5 pure
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 pure
CY2023Q1 cbnt Revenue
Revenue
515220 usd
CY2022Q1 cbnt Revenue
Revenue
510709 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
20850 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
22910 usd
CY2023Q1 us-gaap Interest Expense Other
InterestExpenseOther
199485 usd
CY2022Q1 us-gaap Interest Expense Other
InterestExpenseOther
248580 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-723087 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1919419 usd
CY2023Q1 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
88082 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
96306 usd
CY2023Q1 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
515220 usd
CY2022Q1 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
510709 usd
us-gaap Payments For Rent
PaymentsForRent
4444 usd
CY2021Q2 us-gaap Lease Cost
LeaseCost
5283 usd
CY2023Q1 cbnt Lease Term
LeaseTerm
P60M
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
5600 usd
CY2021Q3 cbnt Lease Agreemen Description
LeaseAgreemenDescription
In September 2021, the Company entered into a 48-month lease agreement for the lease of office equipment under a non-cancelable operating lease through September 2025.
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
365 usd
CY2022Q1 cbnt Lease Agreemen Description
LeaseAgreemenDescription
In February 2022, the Company entered into a 36-month lease agreement for the lease of a vehicle under a non-cancelable operating lease through January 2025.
CY2022Q1 us-gaap Payments For Rent
PaymentsForRent
788 usd
CY2023Q1 cbnt Lease And Rental Expenses
LeaseAndRentalExpenses
40845 usd
CY2022Q1 cbnt Lease And Rental Expenses
LeaseAndRentalExpenses
46527 usd
CY2023Q1 cbnt Office Leases Right Of Use Assets
OfficeLeasesRightOfUseAssets
480293 usd
CY2022Q4 cbnt Office Leases Right Of Use Assets
OfficeLeasesRightOfUseAssets
480293 usd
CY2023Q1 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
133600 usd
CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
104881 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
346693 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
375412 usd
CY2023Q1 cbnt Lease Liabilities Related To Office Leases Right Of Use Assets
LeaseLiabilitiesRelatedToOfficeLeasesRightOfUseAssets
348342 usd
CY2022Q4 cbnt Lease Liabilities Related To Office Leases Right Of Use Assets
LeaseLiabilitiesRelatedToOfficeLeasesRightOfUseAssets
376566 usd
CY2023Q1 cbnt Less Current Portion Of Lease Liabilities
LessCurrentPortionOfLeaseLiabilities
-120640 usd
CY2022Q4 cbnt Less Current Portion Of Lease Liabilities
LessCurrentPortionOfLeaseLiabilities
-117671 usd
CY2023Q1 cbnt Lease Liabilities Longterm
LeaseLiabilitiesLongterm
227702 usd
CY2022Q4 cbnt Lease Liabilities Longterm
LeaseLiabilitiesLongterm
258895 usd
CY2023Q2 us-gaap Professional Fees
ProfessionalFees
22500 usd
CY2023Q1 cbnt Operating Leases Future Minimum Payments Due Currents
OperatingLeasesFutureMinimumPaymentsDueCurrents
147956 usd
CY2023Q1 cbnt Operating Leases Future Minimum Payments Due In Two Year
OperatingLeasesFutureMinimumPaymentsDueInTwoYear
148388 usd
CY2023Q1 cbnt Operating Leases Future Minimum Payments Due In Three Year
OperatingLeasesFutureMinimumPaymentsDueInThreeYear
80934 usd
CY2023Q1 cbnt Operating Leases Future Minimum Payments Due In Four Year
OperatingLeasesFutureMinimumPaymentsDueInFourYear
22400 usd
CY2023Q1 cbnt Total Minimum Noncancelable Operating Lease Payments
TotalMinimumNoncancelableOperatingLeasePayments
399678 usd
CY2023Q1 cbnt Discount To Fair Value
DiscountToFairValue
51336 usd
CY2023Q1 cbnt Total Lease Liability
TotalLeaseLiability
348342 usd
CY2022Q2 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
250000 usd
CY2022Q2 cbnt Net Proceeds
NetProceeds
250000 usd
CY2022Q2 us-gaap Investment Interest Rate
InvestmentInterestRate
0.06 pure
CY2022Q2 us-gaap Debt Conversion Original Debt Due Date Of Debt Day Month And Year
DebtConversionOriginalDebtDueDateOfDebtDayMonthAndYear
2024-05-02
CY2023Q1 cbnt Interest Expenses
InterestExpenses
3699 usd
CY2023Q1 cbnt Accruedinterest Payabless
AccruedinterestPayabless
250000 usd
CY2023Q1 cbnt Related Party Amount
RelatedPartyAmount
13726 usd
CY2023Q1 cbnt Due To Related Parties Currents
DueToRelatedPartiesCurrents
250000 usd
CY2023Q1 cbnt Accrued Interest Payable
AccruedInterestPayable
10027 usd
CY2023Q1 us-gaap Subsequent Event Effect Of Change In Tax Status
SubsequentEventEffectOfChangeInTaxStatus
1989755 usd
us-gaap Subsequent Event Description
SubsequentEventDescription
The Company repaid and settled the BOCO Investments, LLC Note (See Note 8) with a principal balance of $400,000 and accrued interest payable of $ $310,192 for a cash payment of $200,000 and the issuance of 22,000,000 shares of the Company’s common stock.
CY2022Q2 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
419260 usd
CY2022Q3 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
419260 usd
CY2022Q3 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
419260 usd
CY2022Q1 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
271825 usd
CY2022Q4 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
271825 usd
CY2021Q2 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
875000 usd
CY2022Q4 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
875000 usd
CY2022Q4 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
288035 usd
CY2022Q4 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
288035 usd
CY2022Q1 us-gaap Early Repayment Of Senior Debt
EarlyRepaymentOfSeniorDebt
288035 usd
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NONE
CY2023Q1 us-gaap Capitalized Contract Cost Net Current
CapitalizedContractCostNetCurrent
usd
CY2022Q1 cbnt Interest Expenses Related Party
InterestExpensesRelatedParty
usd
CY2022Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
usd
CY2022Q1 us-gaap Increase Decrease In Due To Other Related Parties
IncreaseDecreaseInDueToOtherRelatedParties
usd
CY2022Q1 cbnt Proceeds From Sale Of Series C Preferred Stock
ProceedsFromSaleOfSeriesCPreferredStock
usd
CY2023Q1 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
usd
CY2022Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
usd
CY2022Q1 cbnt Common Stock Issued As Prepaid For Services
CommonStockIssuedAsPrepaidForServices
usd
CY2022Q1 cbnt Common Stock Issued For Accrued Compensation
CommonStockIssuedForAccruedCompensation
usd
CY2023Q1 cbnt Increase In Debt Discount And Paidin Capital For Beneficial Conversion Feature On Convertible Debt
IncreaseInDebtDiscountAndPaidinCapitalForBeneficialConversionFeatureOnConvertibleDebt
usd
CY2023Q1 cbnt Common Stock Issued For Accouts Payable
CommonStockIssuedForAccoutsPayable
usd
CY2023Q1 us-gaap Inventory Adjustments
InventoryAdjustments
usd
CY2022Q4 us-gaap Inventory Adjustments
InventoryAdjustments
usd
CY2023Q1 us-gaap Intermediate Life Plants Useful Life
IntermediateLifePlantsUsefulLife
CY2023Q1 cbnt Goodwill Useful Life
GoodwillUsefulLife
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2023Q1 cbnt Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Grants Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsGrantsNumberOfShares
shares
CY2023Q1 cbnt Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Granted Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsGrantedWeightedAverageGrantDateFairValue
CY2023Q1 cbnt Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Shares Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsSharesVestedNumberOfShares
shares
CY2023Q1 cbnt Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Shares Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsSharesVestedWeightedAverageGrantDateFairValue
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001421636

Files In Submission

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cbnt-20230331_cal.xml Edgar Link unprocessable
cbnt-20230331_def.xml Edgar Link unprocessable
0001213900-23-039843-index-headers.html Edgar Link pending
0001213900-23-039843-index.html Edgar Link pending
0001213900-23-039843.txt Edgar Link pending
0001213900-23-039843-xbrl.zip Edgar Link pending
cbnt-20230331.xsd Edgar Link pending
f10q0323ex31-1_cbondsystems.htm Edgar Link pending
f10q0323ex31-2_cbondsystems.htm Edgar Link pending
f10q0323ex32-1_cbondsystems.htm Edgar Link pending
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