Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (5,500,971) $ (4,791,552)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation and amortization expense 41,725 17,476
Loss from asset disposal 485  
Stock-based compensation 52,635 59,094
Warrants 136,493 33,154
Discount for issue secured promissory note   500,000
Amortization of debt discount 1,804,629
Loss on debt modification 0 2,385,204
Change in fair value of derivative liability   (15,282)
Change in fair value of warrant liability   (438,972)
Leasing 2,681 (39,696)
Increase (decrease) in cash attributable to changes in operating assets and liabilities:    
Accounts receivable (11,450) 821
Prepaid expenses 157,513 11,563
Other assets 63,005  
Accounts payable 604,704 267,823
Accrued expenses (47,537) (188,342)
Accounts payable and accrued expenses, related party 34,500 168,706
Accrued Interest 52,480 77,506
Accrued Interest, related party   572,346
Other liabilities 5,284 57,693
Net cash used by operating activities (2,603,824) (1,322,458)
Cash flows from investing activities:    
Purchase of property and equipment (22,637) (31,617)
Cash received with merge with Boston Therapeutics   63,362
Net cash used by investing activities (22,637) 31,745
Cash flows from financing activities:    
Proceeds from notes payable   410,000
Proceeds from notes payable, related party   302,500
Proceeds from Secured Promissory Notes 200,000 4,500,000
Proceeds from Secured Promissory Notes, related party 1,635,000  
Proceeds from issuance of common stock   23,450
Proceeds from issuance of Preferred stock D 500,000  
Proceeds from options exercised 2,600  
Net cash provided by financing activities 2,337,600 5,235,950
Net increase (decrease) in cash (288,861) 3,945,237
Cash at the beginning of the period 297,351 15,098
Cash at the end of the period 8,490 3,960,335
Non-cash investing and financing transactions:    
Right-of-use asset obtained in exchange for lease obligations 617,036 (110,227)
Lease liability (619,717) 149,923
Convertible notes payable for accrued expenses   50,000
Preferred stock conversion into common stock 15,552,647 40,070,108
Dividend pursuant to warrant number change
Warrants issued with debt 1,514,986  
Services compensated by stock issued 50,000  
Conversion of note payable to common stock 131,000  
Dividend from issuance preferred stock D $ 100,000