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 ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities:    
Net loss $ (28,898,637) $ (512,117)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 133,571 0
Loss on debt extinguishment, net 269,144 0
Change in fair value of derivative liability (60,650) (3,400)
Amortization of interest - beneficial conversion feature 1,407,675 62,020
Stock warrants expense 8,656 36,103
Stock options expense 343,549 0
Stock-based compensation expense 41,302 0
Asset impairment adjustment 25,320,555 0
Changes in assets and liabilities:    
Prepaid expenses 994 3,591
Other assets (8,680) 0
Accounts payable 140,906 (2,692)
Accrued expenses (83,495) (1,393)
Accrued interest payable (6,697) 123,008
Related party payables (51,976) 91,048
Stock subscriptions payable 0 1,303
Net cash used in operating activities (1,443,783) (202,529)
Financing Activities:    
Proceeds from notes payable - related parties 0 116,625
Proceeds from notes payable - non-related parties 41,665 60,000
Proceeds from issuances of common stock - non-related parties 0 39,000
Proceeds from offering of preferred stock - related parties 1,700,000 0
Net cash provided by financing activities 1,741,665 215,625
Net Change In Cash 297,882 13,096
Cash At The Beginning Of The Period 681,759 89
Cash At The End Of The Period 979,641 13,185
Schedule Of Non-Cash Investing And Financing Activities:    
Gain on related party payables converted to capital 272,299 564,093
Accounts payable and accrued expenses converted to capital 265,677 0
Related party payables converted to capital 579,814 59,500
Gain on related party conversion of preferred stock into common stock 0 1,329,561
Related party debt converted to capital after exercise of cashless stock warrants 65,728 0
Related party debt converted to capital 826,964 0
Non-related party debt converted to capital 166,526 0
Gain on related party debt converted to capital 124,291 0
Shares issued for cash received in prior years 20,800 0
Fair value of stock warrants granted 0 54,535
Fair value of embedded conversion feature $ 0 $ 56,100
Issuance of common stock, stock warrants and convertible note for asset purchase 29,222,955
Intrinsic value-beneficial conversion feature $ 1,407,501 $ 0
Exercise of cashless stock warrants 0 146,774
Preferred stock dividend accrued 161,880 0
Supplemental Disclosure:    
Cash paid for interest 1,372 3,750
Cash paid for income taxes $ 0 $ 0