Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.22.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating Expenses:    
Research and development $ 1,000,769 $ 2,217,371
Research and development - related parties 2,947,536 75,633
General and administrative 11,230,118 3,169,260
General and administrative - related parties 462,580 185,848
Total Operating Expenses 15,641,003 5,648,112
Loss From Operations (15,641,003) (5,648,112)
Other (Expense) Income:    
Loss on sale and disposal of property and equipment (37,174)
Gain on settlement of liabilities 926,829
Other income (146,822) 15,334
Other income - related parties 240,000
Interest expense (135,953) (1,002,424)
Interest expense - related parties (50,255) (84,550)
Loss on extinguishment of convertible notes payable, net (9,737) (2,580,655)
Change in fair value of derivative liabilities (4,677,388) (1,816,309)
Change in fair value of accrued issuable equity (9,405) 9,405
Offering costs allocated to warrant liabilities (604,118)
Total Other Expense, Net (4,706,849) (5,256,373)
Loss Before Income Taxes (20,347,852) (10,904,485)
Income tax benefit 23,204 20,427
Net Loss (20,324,648) (10,884,058)
Deemed dividend related to the Series A Convertible Preferred Stock (1,122,702)
Net Loss Attributable to Common Stockholders (20,324,648) (12,006,760)
Net Loss (20,324,648) (10,884,058)
Other Comprehensive Income:    
Foreign currency translation adjustments 180,554 484,083
Total Comprehensive Income $ (20,144,094) $ (10,399,975)
Basic and Diluted Net Loss per Common Share (in Dollars per share) $ (0.65) $ (0.66)
Weighted Average Number of Common Shares Outstanding: (in Shares) 31,355,439 18,154,056