Financials

v3.23.1
Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets    
Cash $ 2,237 $ 0
Total Current Assets 2,237 0
Right to use ground lease, net of accumulated amortization of $23,000 and $20,000 respectively 13,000 16,000
Total Assets 15,237 16,000
Current Liabilities    
Accounts payable 2,051,287 2,055,144
Accrued liabilities 8,316,091 15,853,992
Customer deposit – related party 100,000 100,000
Convertible debt, net of unamortized discounts – related party 0 9,856,124
Notes payable – related party 976,090 1,635,986
Convertible notes payable 450,011 1,549,707
Notes payable, net of unamortized discount 563,185 413,185
Total Current Liabilities 12,456,664 31,464,138
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 0 18,600
Total Liabilities 12,456,664 31,482,738
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 80,287,325 and 5,002,325 shares issued and outstanding, respectively 803 50
Additional paid-in capital 287,991,990 262,607,277
Accumulated deficit (300,434,220) (294,074,065)
Total Stockholders’ Deficit (12,441,427) (31,466,738)
Total Liabilities and Stockholders’ Deficit $ 15,237 $ 16,000

Source

v3.23.1
Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Expenses:    
General and administrative $ 309,147 $ 295,445
Research and development 3,000 3,293
Loss from Operations (312,147) (298,738)
Other Expenses:    
Interest expense (59,308) (375,870)
Gain on debt conversion 75,383 0
Loss on debt conversion, related party (6,316,221) 0
Change in fair value of share-settled debt 252,138 (103,892)
Total Other Expenses (6,048,008) (479,762)
Net Loss $ (6,360,155) $ (778,500)
Weighted average shares outstanding – basic and diluted (in Shares) 34,876,214 4,142,796
Net loss per share basic and diluted (in Dollars per share) $ (0.18) $ (0.19)

Source

v3.23.1
Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (6,360,155) $ (778,500)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 0 25,033
Change in fair value of share-settled debt (252,138) 103,892
Amortization of lease asset 3,000 3,000
Gain on debt conversion (75,383) 0
Loss on debt conversion, related party 6,316,221 0
Changes in operating assets and liabilities:    
Increase in accounts payable (3,855) 4,005
Increase in accrued expenses 293,159 483,535
Net Cash Used in Operating Activities (79,151) (159,035)
Change in cash overdraft (2) 0
Borrowings on debt, net of original issue discount 150,000 0
Borrowings on related party debt 15,390 157,400
Payments on related party debt (84,000) 0
Net Cash Provided by Financing Activities 81,388 157,400
NET CHANGE IN CASH AND CASH EQUIVALENTS 2,237 (1,635)
CASH AND CASH EQUIVALENTS - beginning of period 0 1,762
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Conversion of convertible notes payable and accrued interest, related party 17,461,358 0
Conversion of notes payable and accrued interest, related party 736,421 0
Conversion of convertible notes payable and accrued interest 946,849 0
CASH AND CASH EQUIVALENTS - end of period $ 2,237 $ 127

Source