Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.20.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]    
REVENUES - RELATED PARTIES $ 916,667 $ 33,333
EXPENSES    
Payroll 1,485,343 705,484
Professional fees 444,782 728,329
General and administrative 148,507 177,242
Total Expenses 2,078,632 1,611,055
LOSS FROM OPERATIONS (1,161,965) (1,577,722)
OTHER INCOME (EXPENSE)    
Financing costs including interest (556,303) (346,017)
Loss on equity method investment (21,588) (50,000)
Change in fair value of convertible bridge notes 1,057,877 1,576,482
Total Other Income (Expense) 79,986 1,180,465
LOSS BEFORE INCOME TAXES (681,979) (397,257)
INCOME TAXES
NET LOSS (681,979) (397,257)
PREFERRED STOCK    
Series A convertible contractual dividends (36,000) (40,768)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (717,979) $ (438,025)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS: BASIC AND DILUTED $ (0.01) $ (0.01)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING: BASIC AND DILUTED 51,997,460 49,868,544