Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

v3.21.1
Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (872,264) $ (1,169,210)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 256,179 436,365
Change in fair value of share-settled debt (29,528) 0
Gain on settlement of accounts payable 0 (131,539)
Amortization of lease asset 3,000 3,000
Debt conversion and extension expenses 600 30,000
Increase in accounts payable (19,877) 5,318
Increase in accrued expenses 489,268 346,904
Net Cash Used in Operating Activities (172,622) (479,162)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on debt, net of original issue discounts 0 535,000
Payments on convertible debt 0 (150,000)
Payments of debt issuance costs 0 (20,000)
Borrowings on convertible debt, net of original issue discounts – related party 18,600 24,900
Borrowings on related party debt 150,000
Net Cash Provided by Financing Activities 168,600 389,900
NET CHANGE IN CASH AND CASH EQUIVALENTS (4,022) (89,262)
CASH AND CASH EQUIVALENTS - beginning of period 4,203 92,282
CASH AND CASH EQUIVALENTS - end of period 181 3,020
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for debt conversion 182,333 0
Common shares returned and cancelled 45 0
Related Party Convertible Notes [Member]    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Beneficial conversion feature on convertible debt $ 0 $ 4,150