v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Activities:    
Net loss $ (1,002,434) $ (449,874)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization 96,366 0
Gain on extinguishment of debt, net 0 (28,568)
Change in fair value of derivative liability 0 700
Amortization of interest - beneficial conversion feature 9,542 174
Stock warrants expense 13,472 8,656
Stock options expense 105,013 39,450
Stock-based compensation expense 18,690 41,302
Changes in assets and liabilities:    
Due from related party (2,792) 0
Prepaid expenses 5,559 1,578
Accounts payable 65,317 88,209
Accrued expenses (30,566) (33,228)
Accrued interest payable (42,950) 10,807
Related party payables 7,533 1,670
Stock subscriptions payable 88,469 15,256
Net cash used in operating activities (668,781) (303,868)
Financing Activities:    
Proceeds from notes payable - related parties 530,000 0
Proceeds from notes payable - non-related parties 600,000 0
Proceeds from offering of preferred stock - related parties 0 22,000
Net cash provided by financing activities 1,130,000 22,000
Net Change In Cash 461,219 (281,868)
Cash At The Beginning Of The Period 232,842 681,759
Cash At The End Of The Period 694,061 399,891
Schedule Of Non-Cash Investing And Financing Activities:    
Prepaid expenses with common shares 49,600 0
Issuance of common stock for prior year accrued dividends 107,880 0
Intrinsic value-beneficial conversion feature 480,619 0
Relative fair value of stock warrants granted 619,381 0
Gain on related party payables converted to capital 0 221,557
Accounts payable and accrued expenses converted to capital 0 92,385
Related party payables converted to capital 0 493,074
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
Supplemental Disclosure:    
Cash paid for interest 57,378 0
Cash paid for income taxes $ 0 $ 0

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