Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 1,244,527 $ 8,983,007
Restricted cash 4,580 4,571
Prepaid expenses 850,377 554,217
Prepaid expenses - related party 0 13,432
Assets held for sale 6,432,216 0
Other current assets 412,018 56,870
Total current assets 8,943,718 9,612,097
Property, plant and equipment, net 87,854 87,710
Operating lease right-of-use asset, net 71,191 146,972
Other assets 8,309 8,309
Total assets 9,111,072 9,855,088
Current liabilities    
Accounts payable 1,669,997 897,880
Accounts payable - related parties 124,901 2,130
Accrued interest - related party 15,814 174,911
Accrued payroll liabilities 657,734 344,450
Other current liabilities 1,422,442 375,842
Due to other related parties, current 95,850 0
Derivative liability 3 59,732
Estimate for legal contingency 6,205,310 0
Multi-draw credit agreement - related party 0 450,000
Convertible multi-draw credit agreement - related party, net of $0 and $487,668 discount and $0 and $1,927 issuance costs, at December 31, 2022 and 2021, respectively 1,848,375 1,524,905
Operating lease liability, current portion 78,700 82,372
Total current liabilities 12,119,126 3,912,222
Non-current liabilities    
Operating lease liability, net of current portion 0 78,700
Total liabilities 12,119,126 3,990,922
Commitments and contingencies (Note 14)
Stockholders’ (deficit) equity    
Preferred stock, $0.001 par value; 50,000,000 shares authorized at December 31, 2022; no shares issued and outstanding at December 31, 2022 and 2021 0 0
Common stock, $0.001 par value; 5,000,000,000 shares authorized at December 31, 2022; 913,528,958 and 476,108,445 shares issued and outstanding at December 31, 2022 and 2021, respectively 913,528 476,108
Additional paid-in-capital 62,816,183 52,644,221
Accumulated deficit (66,737,765) (47,256,163)
Total stockholders’ (deficit) equity (3,008,054) 5,864,166
Total liabilities and stockholders’ (deficit) equity $ 9,111,072 $ 9,855,088