Financials

v3.22.2.2
Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current Assets    
Cash $ 1,785 $ 1,762
Total Current Assets 1,785 1,762
Right to use ground lease, net of accumulated amortization of $17,000 and $8,000 respectively 19,000 28,000
Total Assets 20,785 29,762
Current Liabilities    
Accounts payable 2,048,892 2,045,767
Accrued liabilities 15,202,239 13,647,445
Customer deposit – related party 100,000 100,000
Convertible debt, net of unamortized discounts – related party 9,825,763 9,738,945
Notes payable – related party 1,634,516 1,518,230
Convertible notes payable, net of unamortized discount 1,069,975 1,019,529
Notes payable 413,185 413,185
Total Current Liabilities 30,294,570 28,483,101
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 48,290 93,927
Total Liabilities 30,342,860 28,577,028
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 5,000,000 and 4,142,796 shares issued and outstanding, respectively 50 42
Additional paid-in capital 262,607,277 262,264,404
Accumulated deficit (292,929,402) (290,811,712)
Total Stockholders’ Deficit (30,322,075) (28,547,266)
Total Liabilities and Stockholders’ Deficit $ 20,785 $ 29,762

Source

v3.22.2.2
Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Expenses:        
General and administrative $ 292,947 $ 277,954 $ 910,400 $ 894,651
Research and development 3,000 3,287 9,585 9,879
Loss from Operations (295,947) (281,241) (919,985) (904,530)
Other Expenses:        
Change in fair value of share-settled debt 22,739 (309,839) (50,446) (207,089)
Interest expense (404,100) (482,398) (1,147,259) (1,637,439)
Debt prepayment and default expense 0 0 0 (600)
Gain on settlement of convertible note payable 0 0 0 (2,585)
Total Other Expenses (381,361) (792,237) (1,197,705) (1,842,543)
Net Loss $ (677,308) $ (1,073,478) $ (2,117,690) $ (2,747,073)
Net loss per share basic and diluted (in Dollars per share) $ (0.14) $ (0.29) $ (0.46) $ (0.75)
Weighted average shares outstanding – basic and diluted (in Shares) 5,000,000 3,748,548 4,638,907 3,640,332

Source

v3.22.2.2
Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (2,117,690) $ (2,747,073)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 41,181 595,217
Change in fair value of share-settled debt 50,446 207,089
Gain on settlement of convertible notes payable 0 (2,585)
Amortization of lease asset 9,000 9,000
Debt conversion and extension expenses 0 600
Prepayment of right of use asset 0 (36,000)
Increase in accounts payable 3,125 (20,527)
Increase in accrued expenses 1,595,095 1,501,339
Net Cash Used in Operating Activities (418,843) (492,940)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on related party debt 428,866 471,570
Repayment of related party debt (10,000) 0
Borrowings on convertible debt, net of original issue discounts – related party 0 18,600
Net Cash Provided by Financing Activities 418,866 490,170
NET CHANGE IN CASH AND CASH EQUIVALENTS 23 (2,770)
CASH AND CASH EQUIVALENTS - beginning of period 1,762 4,203
CASH AND CASH EQUIVALENTS - end of period 1,785 1,433
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, related party 342,881 453,975
Note payable, related party, issued for convertible debt and accrued interest 0 115,000
Common shares returned and cancelled $ 0 $ 1

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