Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets    
Cash $ 2,929,895 $ 8,983,007
Restricted cash 4,573 4,571
Prepaid expenses 871,428 554,217
Prepaid expenses - related party 0 13,432
Deferred asset acquisition costs 842,193 0
Other current assets 113,187 56,870
Other current assets - related party 12,655 0
Total current assets 4,773,931 9,612,097
Property and equipment, net 74,929 87,710
Operating lease right-of-use asset 110,304 146,972
Other asset 8,309 8,309
Total assets 4,967,473 9,855,088
Current liabilities    
Accounts payable 1,443,043 897,880
Accounts payable - related parties 107,237 2,130
Accrued interest - related party 261,647 174,911
Accrued payroll liabilities 350,248 344,450
Insurance premium loan payable 122,461 0
Other current liabilities 511,257 375,842
Other current liabilities - related party 55,668 0
Derivative liability 6,554 59,732
Multi-draw credit agreement - related party 450,000 450,000
Convertible multi-draw credit agreement - related party, net of discount 1,839,830 1,524,905
Operating lease liability, current portion 88,928 82,372
Total current liabilities 5,236,873 3,912,222
Non-current liabilities    
Operating lease liability, net of current portion 32,422 78,700
Total liabilities 5,269,295 3,990,922
Commitments and contingencies (Note 10)
Stockholders’ equity    
Preferred stock, $0.001 par value; 50,000,000 shares authorized at June 30, 2022 and December 31, 2021; no shares issued and outstanding at June 30, 2022 and December 31, 2021 0 0
Common stock, $0.001 par value; 5,000,000,000 shares authorized at June 30, 2022 and December 31, 2021; 495,925,112 and 476,108,445 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 495,925 476,108
Additional paid-in-capital 52,921,093 52,644,221
Accumulated deficit (53,718,840) (47,256,163)
Total stockholders’ (deficit) equity (301,822) 5,864,166
Total liabilities and stockholders’ equity $ 4,967,473 $ 9,855,088