v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:    
Net loss $ (2,545,151) $ (28,161,037)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization 192,732 33,227
Loss on debt extinguishment, net   269,144
Change in fair value of derivative liability 0 (60,650)
Amortization of interest - beneficial conversion feature 91,543 1,407,675
Amortization of interest 111,655 8,656
Stock options expense 140,726 296,932
Stock-based compensation expense 187,065 41,302
Asset impairment adjustment 0 25,320,555
Changes in assets and liabilities:    
Due from related party 0 (6,446)
Prepaid expenses 13,517 (434)
Other assets 0 (8,680)
Accounts payable 114,809 123,736
Accrued expenses (13,344) 39,644
Accrued interest payable (217) (47,675)
Related party payables (10,120) (21,740)
Common stock subscriptions payable 88,469 0
Net cash used in operating activities (1,628,316) (765,791)
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 offering of preferred stock - related parties 0 770,000
Net cash provided by financing activities 2,005,000 811,665
Net Change In Cash 376,684 45,874
Cash At The Beginning Of The Period 232,842 681,759
Cash At The End Of The Period 609,526 727,633
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 909,214 1,407,501
Relative fair value of stock warrants granted 1,092,708 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
Supplemental Disclosure:    
Cash paid for interest 62,491 765
Cash paid for income taxes $ 0 $ 0

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