Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (2,070,880) $ (1,777,447)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 5,139 1,279
Amortization expense 2,700 15,305
Stock issued for services 211,500
Accretion of debt discount 309,226 286,391
Accretion of original issuance costs 85,875 44,683
Changes in operating assets and liabilities:    
Other current assets (5,179) (27,509)
Other assets (20,711)
Accounts payable 266,147 16,869
Accrued payroll and payroll taxes 29,052 (15,273)
Other current liabilities (555) 43,692
Net cash used in operating activities (1,378,475) (1,221,221)
Cash flows from investing activities:    
Purchase of property and equipment (860) (20,205)
Net cash used in investing activities (860) (20,205)
Cash flows from financing activities:    
Proceeds from short-term convertible notes 1,110,000 250,000
Repayment of short-term convertible notes (55,000)
Common stock issued for cash 1,465,000
Fees associated with filing of Form S-1 (43,498)
Net cash provided by financing activities 1,066,502 1,660,000
Net (decrease) increase in cash (312,833) 418,574
Cash at beginning of period 340,956 84,402
Cash at end of period 28,123 502,976
Cash paid during the period for:    
Interest
Income taxes
Non-cash investing and financing activities:    
Beneficial conversion feature in conjunction with debt issuance 101,972
Amortization of warrants issued in connection with a debt modification 147,720
Warrants issued to third parties in conjunction with debt issuance 489,140 148,028
Original issue discount issued in conjunction with debt 111,000 30,000
Common stock issued to third parties in conjunction with conversion of debt 110,000
Issuance of common stock in conjunction with cashless exercise of warrants   $ 6