XML 16 R6.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,312,070) $ (991,370)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation and amortization 12,510 11,588
Amortization of right of use asset, facilities 4,467
Amortization of beneficial conversion feature and loan fees 29,779
Amortization of unearned compensation 61,330 54,340
Common stock issued for services 152,225 373,971
Common stock issued in payment of a vessel rental 30,000
Loss on extinguishment of debt 154,405
Decrease (increase) in:    
Prepaid expenses and deposits 5,042
Increase (decrease) in:    
Accounts payable & accrued expenses 32,849 33,790
Operating lease liability (4,369)
Net cash used in operating activities (833,832) (517,681)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (2,000)
Net cash used in investing activities (2,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the issuance of common stock 318,500 526,000
Proceeds from the issuance of convertible notes payable 150,000
Proceeds from the issuance of notes payable 350,000
Payments on leased equipment (5,833) (2,987)
Payments on notes payable, in default (100,000)
Payments on notes payable (5,000)
Payments to shareholders (2,400)
Net cash provided by financing activities 712,667 515,613
NET CHANGE IN CASH (121,165) (4,068)
CASH, BEGINNING OF PERIOD 606,267 177,409
CASH, END OF PERIOD 485,102 173,341
Supplemental disclosure of cash flow information    
Cash paid for interest expense
Cash paid for income taxes
Non-cash operating and financing activities:    
Principal and accrued interest converted to common stock 274,970
Financing lease liabilities and right of use asset 122,464
Stock issued for prepaid services $ 280,800