Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows From Operating Activities    
Net loss $ (21,360,865) $ (2,943,294)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation
Shares issued for services 2,099,582
Amortization of stock options 1,871,473
Depreciation and amortization 93,139 93,480
Bad debt expense (recovery) - related parties 338,582 (1,156,750)
Interest expense capitalized to debt principal 313,363
Gain on settlement of liabilities, net (927,698)
Loss (gain) on extinguishment of convertible note payable 9,737 (491,624)
Deferred tax benefit (16,587) (15,175)
Offering costs allocated to warrant liabilities 604,118
Change in fair value of derivative liabilities 10,342,337
Change in fair value of accrued issuable equity 9,405
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (443,531) 409,809
Due from related parties (240,000)
Accounts payable (5,669,923) 1,835,623
Accrued expenses (1,241,167) 1,538,999
Accrued issuable equity (52,500)
Total adjustments 7,016,967 2,287,725
Net Cash Used In Operating Activities (14,343,898) (655,569)
Cash Flows From Financing Activities    
Proceeds from sale of common stock and warrants 26,666,200 72,500
Offering costs in connection with sale of common stock and warrants (2,055,130)
Repayment of loans payable (738,199)
Repayment of convertible debt (10,000)
Proceeds from loans payable 220,056
Proceeds from convertible notes payable 82,500
Proceeds from Paycheck Protection Program loan 53,051
Proceeds from Bounce Back Loan Scheme loan 63,542
Cash Provided By Financing Activities 23,862,871 491,649
Effect of Exchange Rate Changes on Cash 60,283 113,215
Net Increase (Decrease) In Cash 9,579,256 (50,705)
Cash - Beginning of Period 2,108,544 83,396
Cash - End of Period 11,687,800 32,691
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for interest 31,428
Non-cash investing and financing activities:    
Conversion of convertible debt and accrued interest into common stock 1,340,184
Common stock issued upon exchange of notes payable and accrued interest 1,283,496
Shares and warrants issued for Alpha Settlement 1,156,177
Exchange of common stock equivalents for common stock 100
Shares issued to settle accounts payable 1,973,250
Secuirty deposit applied to accounts payable 7,078
Recognition of beneficial conversion feature as loss on extinguishment of convertible note principal 329,300
Redemption premium and restructuring fee recognized as an increase in convertible note principal 557,436
Extinguishment of convertible note 1,510,113
Non-convertible note issued to holder of extinguished convertible note 150,000
Restructuring fee recognized as an increase in bridge note principal 33,250
Loans payable for payments made by the counterparty directly to vendors in satisfaction of accounts payable 38,467
Warrants issued in connection with the private offering $ 7,294,836