XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (13,253,462) $ (4,082,507)
Adjustments to reconcile net loss to net cash used in operating activities:    
Derivative liability movements (4,714,451) 101,945
Depreciation 13,293 8,333
Amortization of debt discount 3,138,452 801,460
Investment impairment charge 1,019,960
Loss on conversion of debt to equity 5,184,447 433,610
Loss on settlement of liabilities 50,164
Deposit forfeited 4,000
Shares issued for services 1,219,050 43,500
Stock based compensation 6,416,471 527,362
Amortization of right of use asset 17,857 24,451
Changes in Assets and Liabilities    
Other current assets (53,834) 42,390
Accounts payable and accrued expenses 17,545 95,227
Operating lease liabilities (17,857) (24,451)
Interest accruals 144,773 7,253
CASH USED IN OPERATING ACTIVITIES (1,883,716) (951,303)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Investment in Frictionless Financial Technologies Inc. (500,000)
Intangibles acquired (250,000)  
Deposits paid (4,800)
Plant and equipment purchased (9,234) (50,000)
NET CASH USED IN INVESTING ACTIVITIES (764,034) (50,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from share issuances 4,550,000 33,000
Share issue expenses (501,100)
Proceeds from warrants exercised 3,009,349
Proceeds from loans payable   85,000
Repayment of loans payable (22,049) (104,500)
Repayment of convertible notes (521,000) (703,164)
Proceeds from short term notes and convertible notes 2,569,000 1,602,100
Proceeds from federal relief funds 210,292
NET CASH PROVIDED BY FINANCING ACTIVITIES 9,084,200 1,122,728
NET INCREASE (DECREASE) IN CASH 6,436,450 121,425
CASH AT BEGINNING OF PERIOD 94,703 2,979
CASH AT END OF PERIOD 6,531,153 124,404
CASH PAID FOR INTEREST AND TAXES:    
Cash paid for income taxes
Cash paid for interest 29,813 340,242
NON CASH INVESTING AND FINANCING ACTIVITIES    
De-recognition of right of use lease on early termination 34,070
Recognition of right of use lease 86,741
Conversion of convertible debt to equity 2,259,221 769,558
Settlement of liabilities with equity $ 100,164