v3.25.1

CONSOLIDATED BALANCE SHEETS (AUDITED) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Current assets
Cash	$ 10,336	$ 888
Accounts receivable	5,000	5,000
Due from related party	17,592	21,592
Prepaid expense and other current assets	9,100	7,980
Total current assets	42,028	35,460
Patents and trademarks, net	116,189	127,409
Total assets	158,217	162,869
Current liabilities
Accounts payable and accrued liabilities	858,993	438,668
Accrued interest payable	2,784,909	2,575,595
Loans from related party	13,364	6,000
Loans payable		433,600
Convertible notes payable, net of unamortized debt discount of $0 and $63,785, respectively		40,000
Derivative liability	22,420	18,544
Total current liabilities	3,679,686	3,512,407
Convertible notes payable related party, net of unamortized discount of $0 and $0 respectively	5,372,403	5,372,403
Convertible notes payable	352,075	301,102
Total liabilities	9,404,164	9,185,912
Stockholders' deficit
Common stock; $0.001 par value; 200,000,000 shares authorized; 5,316,843 and 4,539,843 shares issued and outstanding at December 31, 2024 and 2023, respectively	5,317	4,540
Shares payable	10,000
Additional paid-in capital	30,684,878	30,352,905
Accumulated deficit	(39,946,142)	(39,380,488)
Total stockholders' deficit	(9,245,947)	(9,023,043)
Total liabilities and stockholders' deficit	$ 158,217	$ 162,869

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

SKINVISIBLE, INC. 10-K