Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating expenses    
Research and development $ 2,237,956 $ 329,966
General and administrative 4,394,622 4,362,557
Total operating expenses 6,632,578 4,692,523
Operating loss (6,632,578) (4,692,523)
Other expense (income)    
Change in fair value of derivative liabilities (9,734,759) 6,503,174
Fair value of derivative liabilities in excess of proceeds 322,644 7,174,634
Financing transaction costs   137,192
Loss on extinguishment of debt - related party 725,425 590,392
Interest expense 1,000,713 94,763
Interest income (26) (84)
Total other expense (income), net (7,686,003) 14,500,071
Income (loss) before income taxes 1,053,425 (19,192,594)
Provision for income taxes 1,600 1,642
Net Income (Loss) Attributable to Parent, Total $ 1,051,825 $ (19,194,236)
Earnings (loss) per common share:    
Basic $ 0.01 $ (0.16)
Diluted $ (0.05) $ (0.16)
Weighted average shares of common stock outstanding used to compute earnings (loss) per share:    
Basic 135,154,931 121,154,334
Diluted 169,560,265 121,154,334