v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (1,344,371) $ (1,111,543)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 3,423 847
Amortization expense 1,800 14,406
Stock issued for services 164,500
Accretion of debt discount 160,854 236,644
Accretion of original issuance costs 41,455 30,986
Changes in operating assets and liabilities:    
Other current assets (45,631) (27,370)
Other assets (20,711)
Accounts payable 259,464 24,661
Accrued payroll and payroll taxes 68,698 5,020
Other current liabilities 1,026
Net cash used in operating activities (854,308) (681,534)
Cash flows from investing activities:    
Purchase of property and equipment (859) (2,871)
Net cash used in investing activities (859) (2,871)
Cash flows from financing activities:    
Proceeds from short-term convertible notes 525,000 250,000
Repayment of short-term convertible notes (55,000)
Common stock issued for cash 1,465,000
Fees associated with filing of Form S-1 (3,498)
Net cash provided by financing activities 521,502 1,660,000
Net decrease in cash (333,665) 975,595
Cash at beginning of period 340,956 84,402
Cash at end of period 7,291 1,059,997
Cash paid during the period for:    
Interest
Income taxes
Non-cash investing and financing activities:    
Beneficial conversion feature in conjunction with debt issuance 101,972
Amortization of warrants issued in connection with a debt modification 97,939
Warrants issued to third parties in conjunction with debt issuance 331,353 148,028
Original issue discount issued in conjunction with debt 52,500 25,000
Common stock issued to third parties in conjunction with conversion of debt $ 110,000

Source