Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash $ 2,469,410 $ 1,829,977
Restricted cash 4,566 4,538
Prepaid expenses 190,134 152,695
Other current assets 275 7,550
Total current assets 2,664,385 1,994,760
Property and equipment, net 7,341 1,983
Total assets 2,671,726 1,996,743
Current liabilities    
Accounts payable 364,340 129,809
Accounts payable - related party 17,032 10,000
Accrued interest - related party 44,087 0
Other current liabilities 259,111 420,406
Derivative liabilities 38,567 410,603
PPP loan current 64,062 0
Total current liabilities 787,199 970,818
Noncurrent liabilities    
PPP loan non-current 52,638 0
Multi-draw credit agreement - related party 450,000 0
Convertible multi-draw credit agreement - related party, net of discount 931,103 387,070
Derivative liabilities, non-current 0 90,797
Total liabilities 2,220,940 1,448,685
Stockholders' equity    
Preferred stock, $0.001 par value; 20,000,000 shares authorized; no shares issued and outstanding at December 31, 2020 and December 31, 2019 0 0
Common stock, $0.001 par value; 500,000,000 shares authorized; 288,074,415 and 182,895,247 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 288,074 182,895
Additional paid-in-capital 38,896,693 32,538,445
Accumulated deficit (38,733,981) (32,173,282)
Total stockholders' equity 450,786 548,058
Total liabilities and stockholders' equity $ 2,671,726 $ 1,996,743