Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (1,620,471) $ (2,064,160)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 2,885 3,430
Amortization expense 1,800
Stock based compensation 75,000 75,000
Accretion of debt discount 159,943 1,088,849
Accretion of original issuance costs 225,672 102,776
Modification of warrants (224,362)
Changes in operating assets and liabilities:    
Other current assets 13,641 (43,220)
Accounts payable 26,718 12,427
Accrued payroll and payroll taxes 701,399 156,278
Other current liabilities (3,193) (85)
Net cash used in operating activities (418,406) (891,267)
Cash flows from financing activities:    
Proceeds from short-term convertible notes 470,360 882,000
Advance from shareholder 35,000 30,000
Repayments of advance from shareholder (45,000)
Fees associated with filing of Form S-1 (5,456)
Net cash provided by financing activities 460,360 906,544
Net (decrease) increase in cash 41,954 15,277
Cash at beginning of period 11,690 8,356
Cash at end of period 53,644 23,633
Cash paid during the period for:    
Interest
Income taxes
Non-cash investing and financing activities:    
Beneficial conversion feature in conjunction with debt issuance 303,984
Warrants issued to third parties in conjunction with debt issuance 211,475 578,016
Original issue discount issued in conjunction with debt 106,386 88,200
Common stock issued to third parties in conjunction with conversion of debt 232,936 198,000
Preferred stock issued to third parties in conjunction with conversion of debt 841,419
Cancellation of common stock – related party 7
Conversion of common stock for Series A preferred stock $ 611