Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash $ 1,499,866 $ 8,304
Prepaid expenses and other assets 135,014 12,896
Deferred offering costs 35,000
TOTAL CURRENT ASSETS 1,669,880 21,200
TOTAL ASSETS 1,669,880 21,200
CURRENT LIABILITIES    
Accounts payable and accrued expenses 569,321 308,157
Accrued payroll and related expenses 95,400 48,006
Accrued series B preferred stock dividends 153,343
Notes payable, net of discount 532,400
Notes payable - related parties 7,500 63,992
Paycheck Protection Program Loan - current portion 34,163
Debentures 35,000 137,500
Convertible bridge notes, at fair value 3,598,000
TOTAL CURRENT LIABILITIES 1,392,964 4,189,818
Paycheck Protection Program Loan - net of current portion 108,779
Total Liabilities 1,392,964 4,298,597
Redeemable convertible preferred stock - Series A; $0.0001 par value, 1,500 designated Series A, and 480 and 600 shares issued and outstanding (liquidation preference of $693,580 and $784,044) as of December 31, 2021 and December 31, 2020, respectively 693,580 784,044
Stockholders’ Deficit    
Common stock, $0.0001 par value, 300,000,000 shares authorized, 66,084,085 and 19,472,241 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively 6,608 1,947
Unearned deferred compensation (900,742) (148,333)
Subscription receivable (25,000)
Additional paid-in capital 29,759,142 11,021,840
Accumulated deficit (29,281,674) (15,911,895)
Total Stockholders’ Deficit (416,664) (5,061,441)
Total Liabilities & Stockholders’ Deficit 1,669,880 21,200
Series B Preferred Stock [Member]    
Stockholders’ Deficit    
Preferred stock, Series E-1, $0.0001 par value; 8,500 shares authorized, 0 and 7,650 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively 2
Series E Preferred Stock [Member]    
Stockholders’ Deficit    
Preferred stock, Series E-1, $0.0001 par value; 8,500 shares authorized, 0 and 7,650 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively