Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (4,145,936) $ (2,929,817)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 6,756 6,854
Amortization expense 2,100 3,600
Stock based compensation 215,558
Accretion of debt discount 1,755,995 646,302
Accretion of original issuance costs 285,187 135,812
Modification of warrants (352,965)
Changes in operating assets and liabilities:    
Other current assets (44,431) (9,867)
Accounts payable 196,629 287,843
Accrued payroll and payroll taxes 699,130 29,052
Other current liabilities (1,233) (21)
Net cash used in operating activities (1,383,210) (1,830,242)
Cash flows from investing activities:    
Purchase of property and equipment (860)
Net cash used in investing activities (860)
Cash flows from financing activities:    
Proceeds from short-term convertible notes 1,312,000 1,567,000
Advance from shareholder 80,000
Fees associated with filing of Form S-1 (5,456) (68,498)
Net cash provided by financing activities 1,386,544 1,498,502
Net (decrease) increase in cash 3,334 (332,600)
Cash at beginning of period 8,356 340,956
Cash at end of period 11,690 8,356
Cash paid during the period for:    
Interest
Income taxes
Non-cash investing and financing activities:    
Beneficial conversion feature in conjunction with debt issuance 401,063 273,700
Amortization of warrants issued in connection with a debt modification 147,720
Warrants issued to third parties in conjunction with debt issuance 858,276 793,039
Original issue discount issued in conjunction with debt 131,200 156,700
Original issue discount issued in conjunction with extension of debt 305,320
Common stock issued to third parties in conjunction with conversion of debt 1,520,200 145,200
Conversion of common stock for Series A preferred stock $ 16