Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 747,714 $ 785,363
Accounts receivable 947 16,922
Inventory 149,558 146,090
Advances to officers 16,941
Prepaid expenses and other current assets 409,783 166,458
TOTAL CURRENT ASSETS 1,308,002 1,131,774
Property and equipment, net 120,914 122,979
Intangible assets, net 10,151,172 10,920,577
Goodwill 913,184
Operating lease right-of-use asset 88,537 191,702
Long-term prepaid insurance 75,000 95,000
TOTAL ASSETS 11,743,625 13,375,216
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 2,512,622 2,987,264
Accrued director’s fees 75,000 75,000
Accrued interest 316,689 356,998
Convertible notes payable, net 2,750,620 337,000
Notes payable 320,000
Loans payable 6,667 6,667
Notes payable - related party 15,110 155,989
Derivative liabilities 1,658,607  
Operating lease liability, current portion 83,710 104,591
TOTAL CURRENT LIABILITIES: 7,419,025 4,343,509
Convertible notes payable, net 9,635,551
Operating lease liability, net of current portion 7,378 91,089
TOTAL LIABILITIES 7,426,403 14,070,149
Commitments and contingencies
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred stock, $0.001 par value; 10,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively
Common stock, $0.001 par value; 750,000,000 shares authorized, 1,242,647 and 593,410 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively 1,243 594
Additional paid in capital 38,942,765 21,587,386
Accumulated deficit (34,622,781) (22,278,923)
Accumulated other comprehensive loss (4,005) (3,990)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) 4,317,222 (694,933)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 11,743,625 $ 13,375,216