Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities    
Net Income (Loss) $ 4,502,997 $ (39,657,721)
Stock-based compensation:    
Shares issued for services 210,345 1,667,586
Amortization of stock options and restricted stock shares 1,391,519 1,436,494
Depreciation and amortization 63,422 58,189
Bad debt expense – related parties 300,000
Loss on settlement of liabilities (455,021)
Loss on extinguishment of convertible note payable 9,737
Deferred tax benefit (10,975)
Offering costs allocated to warrant liabilities 604,118
Change in fair value of derivative liabilities (12,717,652) 32,385,728
Change in fair value of accrued issuable equity 9,405
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (59,364) (606,079)
Accounts payable 1,003,919 (3,837,635)
Accrued expenses (84,774) (2,038,573)
Accrued expenses – related parties 85,124 (153,983)
Accrued issuable equity (52,500)
Total adjustments (10,107,461) 29,316,491
Net Cash Used In Operating Activities (5,604,464) (10,341,230)
Cash Flows From Financing Activities    
Proceeds from sale of common stock and warrants 11,666,200
Offering costs in connection with sale of common stock and warrants (935,130)
Repayment of loans payable (1,009,763) (585,287)
Repayment of loans payable – related parties (1,778)
Repayment of convertible debt – related parties (10,000)
Net Cash (Used in) Provided By Financing Activities (1,009,763) 10,134,005
Effect of Exchange Rate Changes on Cash 14,960 (65,680)
Net Decrease In Cash (6,599,267) (272,905)
Cash - Beginning of Period 8,224,508 2,108,544
Cash - End of Period 1,625,241 1,835,639
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for income taxes
Cash paid during the period for interest 8,990
Non-cash investing and financing activities:    
Warrants issued in connection with the private offering 7,294,836
Shares issued to settle accounts payable 1,973,250
Conversion of convertible debt and accrued interest into common stock 1,340,185
Conversion of notes payable and accrued interest into common stock 432,383
Security deposit applied to accounts payable 7,078
Exchange of common stock equivalents for common stock $ 96