Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash $ 8,983,007 $ 2,469,410
Restricted cash 4,571 4,566
Prepaid expenses 554,217 190,134
Prepaid expenses - related party 13,432 0
Other current assets 56,870 275
Total current assets 9,612,097 2,664,385
Property and equipment, net 87,710 7,341
Operating lease right-of-use asset 146,972 0
Other assets 8,309 0
Total assets 9,855,088 2,671,726
Current liabilities    
Accounts payable 897,880 364,340
Accounts payable - related party 2,130 17,032
Accrued interest - related party 174,911 44,087
Accrued payroll liabilities 344,450 61,547
PPP loan current 0 64,062
Other current liabilities 375,842 197,564
Derivative liabilities 59,732 38,567
Multi-draw credit agreement - related party 450,000 0
Convertible multi-draw credit agreement - related party, net of discount 1,524,905 0
Operating lease liability, current portion 82,372 0
Total current liabilities 3,912,222 787,199
Non-current liabilities    
PPP loan non-current 0 52,638
Multi-draw credit agreement - related party 0 450,000
Convertible multi-draw credit agreement - related party, net of discount 0 931,103
Operating lease liability, net of current portion 78,700 0
Total liabilities 3,990,922 2,220,940
Commitments and contingencies
Stockholders’ equity    
Preferred stock, $0.001 par value; 50,000,000 and 20,000,000 shares authorized at December 31, 2021 and 2020; no shares issued and outstanding at December 31, 2021 and 2020 0 0
Common stock, $0.001 par value; 5,000,000,000 and 500,000,000 shares authorized; 476,108,445 and 288,074,415 shares issued and outstanding at December 31, 2021 and 2020, respectively 476,108 288,074
Additional paid-in-capital 52,644,221 38,896,693
Accumulated deficit (47,256,163) (38,733,981)
Total stockholders’ equity 5,864,166 450,786
Total liabilities and stockholders’ equity $ 9,855,088 $ 2,671,726