Investor Relations

Financials

v3.22.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 10,961 $ 297,351
Prepaid expenses and other current assets 110,323 171,488
Total current assets 121,284 468,839
Deposit 57,555 97,555
Property and equipment, net 340,027 339,318
Operating lease right-of-use assets 639,335  
Total Assets 1,158,201 905,712
Current liabilities:    
Accounts payable 812,082 407,943
Accrued expenses 665,723 726,148
Accounts payable and accrued expenses, related party 369,973 354,973
Accrued interest 359,586 332,561
Convertible note payable, net of discount 200,000 200,000
Notes payable, related party 547,821 547,821
Notes payable marketing 450,000 450,000
Deferred Revenues 293,523 293,523
Other current liabilities 86,737 12,129
Total current liabilities 3,785,445 3,325,098
Secured Promissory Note, net of discount 2,808,621 2,012,287
Secured Promissory Note, net of discount, related party 1,622,297 1,603,778
Operating lease liabilities, net of current portion 556,278  
Total Liabilities 8,772,641 6,941,163
Commitments and Contingencies (Note 7)
Preferred stock B; 1,000,000 shares designated, 963,964 shares issued, 0 and 963,964 shares outstanding at March 31, 2022 and December 31, 2021, respectively 963,964
Preferred stock C; 1,000,000 shares designated, 1,000,000 shares issued, 8,867 and 1,000,000 shares outstanding at March 31, 2022 and December 31, 2021, respectively 130,085 14,670,633
Preferred stock D; 10,000 shares designated, 500 shares issued, 500 and 0 shares outstanding at March 31, 2022 and December 31, 2021, respectively 500,000
Stockholders’ deficit:    
Common stock; $0.001 par value, 2,000,000,000 shares authorized, 46,203,866 and 5,300,084 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively 46,204 5,300
Additional paid-in capital 101,405,293 85,092,094
Stock payable   20,375
Accumulated deficit (109,696,022) (106,787,817)
Total stockholders’ deficit (8,244,525) (21,670,048)
Total Liabilities, Preferred Stock Subject to Redemption and Stockholders’ Deficit $ 1,158,201 $ 905,712
v3.22.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]    
Revenues   $ 141,778
Operating costs and expenses:    
Research and development $ 861,353 608,771
Selling, general and administrative expenses 1,136,381 388,871
Total operating expenses 1,997,734 997,642
Loss from operations (1,997,734) (855,864)
Other income (expense):    
Interest income
Interest expense (847,299) (28,643)
Interest expense, related, party   (327,943)
Total income (expense) (847,299) (356,586)
Loss before income taxes (2,845,033) (1,212,450)
Provision for income taxes
Net loss (2,845,033) (1,212,450)
Common stock warrant deemed dividends (63,172)  
Net loss attributable to common sharehoders $ (2,908,205) $ (1,212,450)
Weighted average number of common shares outstanding – basic and diluted (in Shares) 18,936,485 1,225,881
Net loss per common share – basic and diluted (in Dollars per share) $ (0.15) $ (0.99)
v3.22.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (2,845,033) $ (1,212,450)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation and amortization expense 21,443 8,165
Loss from asset disposal 485  
Stock-based compensation 29,550 28,405
Warrants 136,493  
Amortization of debt discount 814,853
Leasing   811
Increase (decrease) in cash attributable to changes in operating assets and liabilities:    
Accounts receivable   821
Prepaid expenses 61,165 (8,686)
Other assets 40,000  
Accounts payable 404,139 341,515
Accrued expenses (60,425) (111,742)
Accounts payable and accrued expenses, related party 15,000 50,000
Accrued Interest 27,025 27,379
Accrued Interest, related party   327,943
Other liabilities (8,448)  
Net cash used by operating activities (1,363,753) (547,839)
Cash flows from investing activities:    
Purchase of property and equipment (22,637) (4,219)
Net cash used by investing activities (22,637) (4,219)
Cash flows from financing activities:    
Proceeds from notes payable   290,000
Proceeds from notes payable, related party   290,000
Proceeds from Secured Promissory Notes 600,000
Proceeds from issuance of common stock   23,450
Proceeds from issuance of Preferred stock D 500,000  
Net cash provided by financing activities 1,100,000 603,450
Net increase (decrease) in cash (286,390) 51,392
Cash at the beginning of the year 297,351 15,098
Cash at the end of the year 10,961 66,490
Non-cash investing and financing transactions:    
Right-of-use asset obtained in exchange for lease obligations 639,335 (53,717)
Lease liability (639,335) 52,905
Convertible notes payable for accrued expenses   37,500
Preferred stock conversion into common stock 15,504,512
Dividend pursuant to warrant number change 63,172  
Warrant issued with debt $ 600,000