XML 29 R6.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities:    
Net loss $ (5,321,212) $ (5,167,748)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on extinguishment of note payable (41,920)
Change in fair value of derivative liability (10,900)
Loss on legal settlement 126,400
Non-cash interest expense - warrants (144,661) 102,355
Changes in operating assets and liabilities:    
Prepaid expenses 324,925 39,575
Other current assets 10,787 (6,083)
Accounts payable 786,727 457,284
Accrued compensation 72,774 85,881
Net Cash Used In Operating Activities (2,347,891) (3,138,686)
Cash Flows From Financing Activities:    
Proceeds from issuance of notes payable 30,000 168,094
Repayment of notes payable (146,912)
Proceeds from issuance of Series B Convertible Preferred Stock and warrants, net 799,918
Repayment of financing liability (279,467) (27,926)
Net Cash Provided By Financing Activities 2,147,429 3,268,256
Net (Decrease) Increase In Cash (200,462) 129,570
Cash - Beginning of Year 222,665 93,095
Cash - End of Year 22,203 222,665
Supplemental Disclosures of Cash Flow Information:    
Interest
Income taxes 949 19,898
Non-cash investing and financing activities:    
Accrual of earned preferred stock dividends (1,228,685) (1,157,486)
Common stock issued in connection with payment of Series A and C Convertible Preferred Stock dividends in-kind 1,208,362 1,219,498
Financing of Directors and Officer’s insurance 321,500
Conversion of Series C Convertible Preferred Stock into common stock 753
Conversion of accrued expenses into note principal 413,018
Accrual of warrant obligations in connection with issuance of notes payable 40,167
Warrants issued in satisfaction of accrued interest (40,167)
Issuance of warrants in connection with the issuance of notes payable and convertible notes payable 143,009 242,183
Issuance of warrants in satisfaction of accrued interest 173,712
Conversion of convertible notes payable and accrued interest into Series C Preferred Stock and common stock 866,720 1,802,109
Issuance of embedded derivative liabilities in connection with issuance of note payable 12,500
Issuance of common stock in connection with extinguishment of note payable 58,080
Options Held [Member]    
Stock-based compensation:    
Stock-based compensation 74,600
Warrant [Member]    
Stock-based compensation:    
Stock-based compensation 69,555 4,832
Common Stock [Member]    
Stock-based compensation:    
Stock-based compensation 375,791 (1,545)
Nonrelated Party [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Interest expense - amortization of debt discount 126,364 136,356
Changes in operating assets and liabilities:    
Accrued expenses 152,357 388,836
Accrued interest 227,044 111,861
Cash Flows From Financing Activities:    
Proceeds from issuance of convertible notes payable 919,960 775,000
Related Party [Member]    
Adjustments to reconcile net loss to net cash used in operating activities:    
Interest expense - amortization of debt discount 254,205 148,944
Changes in operating assets and liabilities:    
Accrued expenses 58,000 14,500
Accrued interest 585,873 471,666
Cash Flows From Financing Activities:    
Proceeds from issuance of convertible notes payable $ 677,018 $ 2,500,000