Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.24.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Operating Expenses:    
Total Operating Expenses $ 13,477,500 $ 17,897,965
Loss From Operations (13,477,500) (17,897,965)
Other Income (Expenses):    
Other income 21,074
Interest expense (44,828) (28,175)
Interest income – related parties 1,508
Loss on goodwill impairment (33,547,278)
Loss on IP R&D impairment (9,063,000) (3,342,084)
Change in fair value of derivative liabilities 75,323 15,144,986
Gain on settlement of accrued liability 204,405
Total Other Expense, Net (8,807,026) (21,771,043)
Net Loss Before Income Taxes (22,284,526) (39,669,008)
Income tax benefit 2,349,414 942,749
Net Loss (19,935,112) (38,726,259)
Other Comprehensive Loss:    
Foreign currency translation adjustments (15,816) (3,702,963)
Total Comprehensive Loss $ (19,950,928) $ (42,429,222)
Basic Net Loss per Common Share (in Dollars per share) $ (52.59) $ (387.18)
Weighted Average Number of Common Shares Outstanding: (in Shares) 379,089 100,021
Non-Related Party    
Operating Expenses:    
Research and development $ 2,303,751 $ 2,191,834
General and administrative 10,646,417 15,459,788
Related Party    
Operating Expenses:    
Research and development 480,777 240,731
General and administrative $ 46,555 $ 5,612