Your analysis is pretty accurate. That is one ugly balance sheet. Zero cash.
Current assets of $1,109,190 consisting of fixed assets of property and equipment $279,243 and property costs $829,947.
Current Liabilities $2,745,604 consisting of Notes Payable $1,322,225 and accounts payable and accrued liabilities $643,465, just to name a couple.
We have a note coming due before the end of the month that should be worth well over 80 million conversion shares at a discounted pps of .00039 or thereabouts.
If you just took the current liabilities and converted them at .0006, they would be worth over 4.5 billion shares.