v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating Activities:    
Net loss $ (4,566,567) $ (28,898,637)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 289,098 133,571
Loss on debt extinguishment, net 0 269,144
Change in fair value of derivative liability 0 (60,650)
Amortization of interest - conversion feature 222,373 1,407,675
Amortization of interest 275,052 8,656
Stock options expense 399,259 343,549
Stock-based compensation expense 334,228 41,302
Asset impairment adjustment 0 25,320,555
Changes in assets and liabilities:    
Prepaid expenses (19,361) 994
Other assets (7,146) (8,680)
Accounts payable 604,834 140,906
Accrued expenses (6,961) (83,495)
Accrued interest payable 58,733 (6,697)
Related party payables 780 (51,976)
Common stock subscriptions payable 138,069 0
Net cash used in operating activities (2,277,609) (1,443,783)
Financing Activities:    
Proceeds from notes payable - related parties 1,030,000 0
Repayments of notes payable - related parties (30,000) 0
Proceeds from notes payable - non-related parties 1,005,000 41,665
Proceeds from convertible debenture payable 2,500,000 0
Debt issuance costs (275,000) 0
Proceeds from offering of preferred stock - related parties 0 1,700,000
Net cash provided by financing activities 4,230,000 1,741,665
Net Change In Cash 1,952,391 297,882
Cash At The Beginning Of The Period 232,842 681,759
Cash At The End Of The Period 2,185,233 979,641
Schedule Of Non-Cash Investing And Financing Activities:    
Issuance of common shares for rent 49,600 0
Issuance of common stock for prior year accrued dividends 107,880 0
Intrinsic value-beneficial conversion feature 909,214 1,407,501
Relative fair value of stock warrants granted 1,939,756 0
Convertible debenture payable discount 823,781 0
Fair value of embedded conversion feature 980,000 0
Gain on related party payables converted to capital 0 272,299
Accounts payable and accrued expenses converted to capital 0 265,677
Related party payables converted to capital 0 579,814
Related party debt converted to capital after exercise of cashless stock warrants 0 65,728
Related party debt converted to capital 0 826,964
Non-related party debt converted to capital 0 166,526
Gain on related party debt converted to capital 0 124,291
Shares issued for cash received in prior years 0 20,800
Issuance of common stock, stock warrants and convertible note for asset purchase 0 29,222,955
Preferred stock dividend accrued 0 161,880
Supplemental Disclosure:    
Cash paid for interest 67,618 765
Cash paid for income taxes $ 0 $ 0

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