Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.21.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash $ 1,067,287 $ 8,304
Prepaid expenses and other current assets 19,197 12,896
Deferred offering costs 35,000
TOTAL CURRENT ASSETS 1,121,484 21,200
TOTAL ASSETS 1,121,484 21,200
CURRENT LIABILITIES    
Accounts payable and accrued expenses 241,266 308,157
Accrued payroll and related expenses 48,006 48,006
Accrued interest - related parties 1,478
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 333,250 4,189,818
Paycheck Protection Program Loan - net of current portion 108,779
TOTAL LIABILITIES 333,250 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 $686,380 and $784,044) as of September 30, 2021 and December 31, 2020, respectively 686,380 784,044
STOCKHOLDERS’ EQUITY (DEFICIT)    
Common stock, $0.0001 par value, 300,000,000 shares authorized, 34,958,306 and 19,472,241 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively 3,496 1,947
Unearned deferred compensation (1,307,593) (148,333)
Subscription receivable (25,000)
Additional paid-in capital 27,243,381 11,021,840
Accumulated deficit (25,837,433) (15,911,895)
TOTAL STOCKHOLDERS’ EQUITY (DEFICIT) 101,854 (5,061,441)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) 1,121,484 21,200
Series B Preferred Stock [Member]    
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred stock, value 2
Series E Preferred Stock [Member]    
STOCKHOLDERS’ EQUITY (DEFICIT)    
Preferred stock, value $ 1