Financials

v3.22.2.2
Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current Assets    
Cash $ 100 $ 1,762
Total Current Assets 100 1,762
Right to use ground lease, net of accumulated amortization of $14,000 and $8,000 respectively 22,000 28,000
Total Assets 22,100 29,762
Current Liabilities    
Accounts payable 2,048,767 2,045,767
Accrued liabilities 14,593,858 13,647,445
Customer deposit – related party 100,000 100,000
Convertible debt, net of unamortized discounts – related party 9,799,837 9,738,945
Notes payable – related party 1,547,816 1,518,230
Convertible notes payable, net of unamortized discount 1,092,714 1,019,529
Notes payable 413,185 413,185
Total Current Liabilities 29,596,177 28,483,101
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 70,690 93,927
Total Liabilities 29,666,867 28,577,028
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 5,000,000 and 4,142,797 shares issued and outstanding, respectively 50 4,143
Additional paid-in capital 262,607,277 262,260,303
Accumulated deficit (292,252,094) (290,811,712)
Total Stockholders’ Deficit (29,644,767) (28,547,266)
Total Liabilities and Stockholders’ Deficit $ 22,100 $ 29,762

Source

v3.22.2.2
Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating Expenses:        
General and administrative $ 322,008 $ 318,489 $ 617,453 $ 616,697
Research and development 3,292 3,283 6,585 6,592
Loss from Operations (325,300) (321,772) (624,038) (623,289)
Other Expenses:        
Change in fair value of share-settled debt 30,707 73,222 (73,185) 102,750
Interest expense (367,289) (555,366) (743,159) (1,155,041)
Gain on settlement of convertible note payable 0 2,585 0 2,585
Debt prepayment and default expense 0 0 0 (600)
Total Other Expenses (336,582) (479,559) (816,344) (1,050,306)
Net Loss $ (661,882) $ (801,331) $ (1,440,382) $ (1,673,595)
Net loss per share basic and diluted (in Dollars per share) $ (0.14) $ (0.23) $ (0.32) $ (0.46)
Weighted average shares outstanding – basic and diluted (in Shares) 4,764,504 3,521,804 4,455,368 3,614,577

Source

v3.22.2.2
Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (1,440,382) $ (1,673,595)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 37,655 465,719
Change in fair value of share-settled debt 73,185 (102,750)
Gain on settlement of convertible notes payable 0 (2,585)
Amortization of lease asset 6,000 6,000
Debt conversion and extension expenses 0 600
Prepayment of right of use asset 0 (36,000)
Increase in accounts payable 3,000 (23,777)
Increase in accrued expenses 986,714 944,651
Net Cash Used in Operating Activities (333,828) (421,737)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on related party debt 332,166 403,520
Borrowings on convertible debt, net of original issue discounts – related party 0 18,600
Net Cash Provided by Financing Activities 332,166 422,120
NET CHANGE IN CASH AND CASH EQUIVALENTS (1,662) 383
CASH AND CASH EQUIVALENTS - beginning of period 1,762 4,203
CASH AND CASH EQUIVALENTS - end of period 100 4,586
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 342,881 331,732
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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