Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash $ 1,493,157 $ 8,304
Prepaid expenses and other assets 25,517 12,896
TOTAL CURRENT ASSETS 1,518,674 21,200
TOTAL ASSETS 1,518,674 21,200
CURRENT LIABILITIES    
Accounts payable and accrued expenses 215,002 308,157
Accrued payroll and related expenses 48,006 48,006
Accrued interest - related parties 1,290
Notes payable - related parties 7,500 63,992
Paycheck Protection Program Loan - current portion 142,942 34,163
Debentures 35,000 137,500
Convertible bridge notes, at fair value 3,598,000
TOTAL CURRENT LIABILITIES 449,740 4,189,818
Paycheck Protection Program Loan - net of current portion 108,779
TOTAL LIABILITIES 449,740 4,298,597
Redeemable convertible preferred stock - Series A; $0.0001 par value, 1,500 designated Series A, 480 and 600 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively (liquidation preference of $679,121) 679,121 784,044
STOCKHOLDERS’ EQUITY (DEFICIT)    
Common stock, $0.0001 par value, 300,000,000 shares authorized, 27,732,928 and 19,472,241 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively 2,773 1,947
Unearned deferred compensation (1,702,528) (148,333)
Subscription receivable (25,000)
Additional paid-in capital 26,009,859 11,021,840
Accumulated deficit (23,920,294) (15,911,895)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) 389,813 (5,061,441)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) 1,518,674 21,200
Series B Preferred Stock [Member]    
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred Stock, Value, Issued 2
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) 2
Series E Preferred Stock [Member]    
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred Stock, Value, Issued $ 1