Balance Sheet

v3.24.1

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash	$ 1,256,453	$ 1,244,527
Restricted cash	9,080,202	4,580
Prepaid expenses	425,259	780,807
Assets held for sale	0	6,432,216
Other current assets	888,929	481,588
Total current assets	11,650,843	8,943,718
Property, plant and equipment, net	43,276	87,854
Operating lease right-of-use asset	237,983	71,191
Other assets	8,309	8,309
Total assets	11,940,411	9,111,072
Current liabilities
Accrued payroll liabilities	888,381	657,734
Estimate for legal contingency	6,053,468	6,205,310
Convertible multi-draw credit agreement - related party	0	1,848,375
Convertible note - related party, net of discount	4,371,998	0
Operating lease liability, current portion	72,038	78,700
Total current liabilities	13,900,999	12,119,126
Non-current liabilities
Operating lease liability, net of current portion	171,230	0
Total liabilities	14,072,229	12,119,126
Commitments and contingencies (Note 13)
Stockholders’ deficit
Preferred stock, $0.001 par value; 200,000 shares authorized at December 31, 2023 and 2022; no shares issued and outstanding at December 31, 2023 and 2022	0	0
Common stock, $0.001 par value; 100,000,000 and 20,000,000 shares authorized at December 31, 2023 and 2022, respectively; 12,349,243 and 3,654,119 shares issued and outstanding at December 31, 2023 and 2022, respectively	12,349	3,654
Additional paid-in-capital	102,238,382	63,726,057
Accumulated deficit	(104,382,549)	(66,737,765)
Total stockholders’ deficit	(2,131,818)	(3,008,054)
Total liabilities and stockholders’ deficit	11,940,411	9,111,072
Nonrelated Party
Current liabilities
Accounts payable	1,155,785	1,669,997
Accrued interest - related party	234,750	0
Other current liabilities	998,552	1,422,445
Related Party
Current liabilities
Accounts payable	0	124,901
Accrued interest - related party	126,027	15,814
Other current liabilities	$ 0	$ 95,850

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Balance Sheet

Source