Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (2,817,394) $ (2,969,886)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 4,248 5,146
Amortization expense 2,100
Stock issued for services 214,550
Warrants issued for services 15,703
Stock based compensation 112,500 112,500
Accretion of debt discount 423,663 1,309,703
Accretion of original issuance costs 324,798 146,731
Modification of warrants 24,770 (226,929)
Changes in operating assets and liabilities:    
Other current assets 2,053 (42,345)
Accounts payable 149,997 34,112
Accrued payroll and payroll taxes 969,890 375,124
Other current liabilities (6,996) (1,572)
Net cash used in operating activities (582,218) (1,255,316)
Cash flows from financing activities:    
Proceeds from short-term convertible notes 771,890 1,272,000
Advance from shareholder 35,000 45,000
Repayments of advance from shareholder (71,574)
Fees associated with filing of Form S-1 (5,456)
Net cash provided by financing activities 735,316 1,311,544
Net (decrease) increase in cash 153,098 56,228
Cash at beginning of period 11,690 8,356
Cash at end of period 164,788 64,584
Cash paid during the period for:    
Interest
Income taxes
Non-cash investing and financing activities:    
Warrants issued to third parties in conjunction with debt issuance 390,637 833,708
Original issue discount issued in conjunction with debt 80,739 127,200
Original issue discount issued in conjunction with extension of debt 184,471 305,319
Preferred stock issued to third parties in conjunction with conversion of debt 841,418
Common stock issued to third parties in conjunction with conversion of debt 707,730 198,000
Cancellation of common stock – related party 7
Beneficial conversion feature in conjunction with debt issuance 385,631
Conversion of common stock for Series A preferred stock $ 647