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 $ 225,276 $ 1,499,866
Prepaid expenses and other assets 139,345 135,014
Deferred offering costs 35,000
TOTAL CURRENT ASSETS 364,621 1,669,880
TOTAL ASSETS 364,621 1,669,880
CURRENT LIABILITIES    
Accounts payable and accrued expenses 745,011 569,321
Accrued payroll and related expenses 79,166 95,400
Accrued Series B preferred stock dividends 304,653 153,343
Notes payable, net of discount 443,700
Notes payable - related parties 7,500 7,500
Debentures 35,000
TOTAL CURRENT LIABILITIES 1,580,030 860,564
Notes payable, net of discount 532,400
Total Liabilities 1,580,030 1,392,964
Redeemable convertible preferred stock - Series A; $0.0001 par value, 1,500 designated Series A, and 480 shares issued and outstanding (liquidation preference of $721,200 and $693,580) as of December 31, 2022 and December 31, 2021, respectively 721,200 693,580
Stockholders’ Deficit    
Common stock, $0.0001 par value, 100,000,000 shares authorized, 2,279,019 and 1,652,102 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively 228 165
Unearned deferred compensation (187,329) (900,742)
Additional paid-in capital 33,428,115 29,765,585
Accumulated deficit (35,177,625) (29,281,674)
Total Stockholders’ Deficit (1,936,609) (416,664)
Total Liabilities & Stockholders’ Deficit 364,621 1,669,880
Series B Preferred Stock [Member]    
Stockholders’ Deficit    
Preferred stock, value 2 2
Series E-1 Preferred Stock [Member]    
Stockholders’ Deficit    
Preferred stock, value