Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

v3.21.2
Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (2,747,073) $ (4,599,025)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 595,217 1,402,489
Change in fair value of share-settled debt 207,089 934,548
Gain on settlement of convertible notes payable (2,585) (131,539)
Common stock issued for officer bonus 0 172,549
Common stock issued for services 0 7,859
Amortization of lease asset 9,000 9,000
Debt conversion and extension expenses 600 95,712
Prepayment of right of use asset (36,000) 0
Decrease in prepaid expenses 0 37,219
Increase in accounts payable (20,527) 9,418
Increase in accrued expenses 1,501,339 1,314,711
Net Cash Used in Operating Activities (492,940) (747,059)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on debt, net of original issue discounts 0 760,000
Payments on convertible debt 0 (162,500)
Payments of debt issuance costs 0 (20,000)
Borrowings on convertible debt, net of original issue discounts – related party 18,600 47,300
Borrowings on related party debt 471,570 30,000
Net Cash Provided by Financing Activities 490,170 654,800
NET CHANGE IN CASH AND CASH EQUIVALENTS (2,770) (92,259)
CASH AND CASH EQUIVALENTS - beginning of period 4,203 92,282
CASH AND CASH EQUIVALENTS - end of period 1,433 23
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 conversion of debt and accrued interest 453,975 1,147,246
Note payable, related party, issued for convertible debt and accrued interest 115,000 0
Beneficial conversion feature on convertible debt 0 4,150
Common stock issued for conversion of debt – related party 0 100,000
Common shares returned and cancelled $ 45 $ 0