Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 415,389 $ 8,983,007
Restricted cash 4,574 4,571
Prepaid expenses 708,477 554,217
Prepaid expenses - related party 0 13,432
Deferred asset acquisition costs 1,388,444 0
Other current assets 143,859 56,870
Other current assets - related party 22,542 0
Total current assets 2,683,285 9,612,097
Property and equipment, net 86,163 87,710
Operating lease right-of-use asset 91,064 146,972
Other asset 8,309 8,309
Total assets 2,868,821 9,855,088
Current liabilities    
Accounts payable 2,067,766 897,880
Accounts payable - related parties 120,216 2,130
Accrued interest due to related party 305,734 174,911
Accrued payroll liabilities 443,983 344,450
Insurance premium loan payable 30,615 0
Other current liabilities 526,818 375,842
Other current liabilities - related party 102,390 0
Derivative liability 326 59,732
Multi-draw credit agreement - related party 450,000 450,000
Convertible multi-draw credit agreement - related party, net of discount 2,005,371 1,524,905
Operating lease liability, current portion 92,356 82,372
Total current liabilities 6,145,575 3,912,222
Non-current liabilities    
Operating lease liability, net of current portion 8,227 78,700
Total liabilities 6,153,802 3,990,922
Commitments and contingencies (Note 10)
Stockholders’ (deficit) equity    
Preferred stock, $0.001 par value; 50,000,000 shares authorized at September 30, 2022 and December 31, 2021; no shares issued and outstanding at September 30, 2022 and December 31, 2021 0 0
Common stock, $0.001 par value; 5,000,000,000 shares authorized at September 30, 2022 and December 31, 2021; 495,925,112 and 476,108,445 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 495,925 476,108
Additional paid-in-capital 53,065,217 52,644,221
Accumulated deficit (56,846,123) (47,256,163)
Total stockholders’ equity (3,284,981) 5,864,166
Total liabilities and stockholders’ equity $ 2,868,821 $ 9,855,088