Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash and Cash Equivalents, at Carrying Value $ 5,126,245 $ 1,244,527
Restricted cash 9,084,799 4,580
Prepaid expenses 207,226 780,807
Assets held for sale 0 6,432,216
Other current assets 867,919 481,588
Total current assets 15,286,189 8,943,718
Property, plant and equipment, net 55,280 87,854
Operating lease right-of-use asset 254,552 71,191
Other assets 8,309 8,309
Total assets 15,604,330 9,111,072
Current liabilities    
Accounts payable 1,631,451 1,669,997
Accounts payable - related parties 11,300 124,901
Accrued interest - related party 60,274 15,814
Accrued payroll liabilities 645,830 657,734
Insurance premium loan payable 22,654 55,451
Other current liabilities 921,549 1,366,994
Other current liabilities - related parties 0 95,850
Estimate for legal contingency 6,212,319 6,205,310
Convertible note - related party, net of discount 4,144,508 1,848,375
Operating lease liability, current portion 68,677 78,700
Total current liabilities 13,718,562 12,119,126
Non-current liabilities    
Operating lease liability, net of current portion 190,510 0
Total liabilities 13,909,072 12,119,126
Commitments and contingencies (Note 12)
Stockholders’ equity (deficit)    
Preferred stock, $0.001 par value; 200,000 shares authorized at September 30, 2023 and December 31, 2022; no shares issued and outstanding at September 30, 2023 and December 31, 2022 0 0
Common stock, $0.001 par value; 20,000,000 shares authorized at September 30, 2023 and December 31, 2022; 12,338,910 and 3,654,116 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 12,338 3,654
Additional paid-in-capital 101,645,539 63,726,057
Accumulated deficit (99,962,619) (66,737,765)
Total stockholders’ equity (deficit) 1,695,258 (3,008,054)
Total liabilities and stockholders’ equity (deficit) $ 15,604,330 $ 9,111,072