General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED BALANCE SHEETS

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