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 ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,110,360) $ (3,575,585)
Change in net loss to net cash used in operating activities:    
Depreciation and amortization expense 602,744 19,736
Amortization of debt discount and non-cash interest expense 1,892,418
Change in fair market value of derivative liabilities (1,375,048)
Amortization of right of use asset 1,685
Gain on forgiveness of paycheck protection loan (112,338)
Gain on settlement of lease (1,660)
Fair value of stock options vested 3,204,382
Gain on debt extinguishment (201,097)
Changes in operating assets and liabilities:    
Accounts receivable 10,951 (2,529)
Due from related parties (43,423)
Inventory 19,958 (62,239)
Advances to officers 16,941 1,060
Prepaid expenses and other current assets (124,337) (33,511)
Long-term prepaid insurance 15,000
Accounts payable and accrued expenses (195,489) 833,008
Accrued interest 553,677 182,575
Operating lease liabilities, net 227
NET CASH USED IN OPERATING ACTIVITIES (4,691,693) (2,791,561)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for notes receivable (603,067)
Purchase of property and equipment (27,466) (38,339)
NET CASH USED IN INVESTING ACTIVITIES (27,466) (641,406)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from convertible notes payable, net of issuance costs 6,421,610
Proceeds from note payable 3,469,982
Repayment of related party loan (53,000)
Repayment of convertible note payable (30,000)
Repayment of promissory note and interest (320,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 6,018,610 3,469,982
Effect of exchange rate changes on cash (54,975)
NET CHANGE IN CASH 1,244,476 37,015
CASH AT BEGINNING OF THE PERIOD 785,363 68,943
CASH AT END OF THE PERIOD 2,029,839 105,958
Supplemental Disclosure of Cash Flow Information    
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