Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net Income (Loss) $ 1,563,713 $ (16,198,585)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation:
Shares issued for services 149,718 925,404
Amortization of stock options 596,467 1,092,399
Depreciation and amortization 26,462 28,668
Gain on settlement of payables and accrued expenses (723,764)
Loss on extinguishment of convertible note payable 9,737
Deferred tax benefit (22,332) (5,403)
Offering costs allocated to warrant liabilities 604,118
Change in fair value of derivative liabilities (5,230,114) 13,229,308
Change in fair value of accrued issuable equity (17,520) 9,405
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (325,057) (342,045)
Accounts payable 454,982 (3,966,486)
Accrued expenses 662,880 (969,030)
Accrued expenses – related parties 19,270 28,729
Accrued issuable equity 48,600 (52,500)
Total adjustments (3,636,644) 9,868,540
Net Cash Used In Operating Activities (2,072,931) (6,330,045)
Cash Flows From Financing Activities    
Shares issued for cash, net of issuance costs 10,731,070
Repayment of loans payable – related parties (515,419) (368,532)
Net Cash (Used in) Provided By Financing Activities (515,419) 10,362,538
Effect of Exchange Rate Changes on Cash 32,757 (88,175)
Net (Decrease) Increase In Cash (2,555,593) 3,944,318
Cash - Beginning of Period 8,224,508 2,108,544
Cash - End of Period 5,668,915 6,052,862
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for income taxes
Cash paid during the period for interest 2,853
Non-cash investing and financing activities:    
Warrants issued in connection with the private offering 7,294,836
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 7,030
Exchange of common stock equivalents for common stock $ 96