Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,673,607) $ (1,774,746)
Change in net loss to net cash used in operating activities:    
Depreciation and amortization expense 401,744 11,838
Amortization of debt discount and non-cash interest expense 1,339,218
Change in fair market value of derivative liabilities (1,090,759)  
Gain on forgiveness of paycheck protection loan (112,338)
Gain on settlement of lease (1,660)
Fair value of stock options vested 578,811
Gain on debt extinguishment (201,099)  
Changes in operating assets and liabilities:    
Accounts receivable 10,997 (6,221)
Inventory 15,210 (22,313)
Advances to officers 16,941 (3,480)
Prepaid expenses and other current assets (68,678) (38,064)
Other long-term assets 10,000
Accounts payable and accrued expenses (17,474) 238,976
Accrued interest 407,997 114,218
Operating lease liabilities, net 221 1,053
NET CASH USED IN OPERATING ACTIVITIES (3,272,138) (1,591,077)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash issued for notes receivable   (70,000)
Purchase of property and equipment (7,471) (28,618)
NET CASH USED IN INVESTING ACTIVITIES (7,471) (98,618)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible notes payable, net of issuance costs 6,421,610 2,819,982
Repayment of related party loan (53,000)
Repayment of convertible note payable (10,000)
Repayment of promissory note and interest (320,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 6,038,610 2,819,982
Effect of exchange rate changes on cash (1,139)
NET CHANGE IN CASH 2,757,862 1,130,287
CASH AT BEGINNING OF THE PERIOD 785,363 68,943
CASH AT END OF THE PERIOD 3,543,225 1,199,230
Cash paid for interest 106,039
Cash paid for taxes
Supplemental Disclosure of Non-Cash Investing and Financing Activities    
Accounts payable settled with share issuance 129,850
Services received settled with derivative warrants 156,399  
Convertible notes payable and accrued interest converted to common shares $ 13,921,427