XML 15 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (1,728,152) $ (2,857,262) $ (4,464,347)
Net loss from discontinued operations 536,245
Net loss from continuing operations (1,728,152) (2,857,262) (3,928,102)
Adjustments to reconcile net loss to net cash used in operating activities:      
Derivative liability movements (5,538,008) (6,461,496) (1,483,710)
Depreciation 543 1,627 380,092
Amortization of debt discount 233,948 874,193 414,696
Loss on convertible debt   4,636,843 77,247
Fair value adjustment to price protected warrants 2,051,405 2,051,405
Loss on novation 1,066,165
Penalty on convertible debt   6,611 9,306
Deemed interest income   (19,614)
Unrealized loss on equity method investments   660 403,890
Warrants issued for services   75,357 122,797
Stock based compensation   220,416 283,392
Changes in Assets and Liabilities      
Receivable from equity method investments   (800)
Other current assets   25,024 47,628
Accounts payable and accrued expenses   571,816 1,150,919
Related party payables   50,000
Interest accruals   394,374 281,383
Cash used in operating activities – continuing operations   (480,846) (1,124,297)
Cash provided by operating activities – discontinued operations   35,286
CASH USED IN OPERATING ACTIVITIES   (480,846) (1,089,011)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Investment in notes receivable   (288,333)
Investment in intangibles   (44,405)
Deposits refunded   4,800
Investment in equity method investment   (500) (1,000,000)
Net cash used in investing activities – continuing operations   (288,833) (1,039,605)
Net cash used in investing activities – discontinued operations   (36,230)
CASH USED IN INVESTING ACTIVITIES   (288,833) (1,075,835)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from notes payable   233,333
Proceeds from convertible notes   785,502 2,001,666
Repayment of convertible notes   (298,556) (189,326)
Repayment of federal relief loans   (2,864)
Net cash provided by financing activities – continuing operations   720,279 1,809,476
Net cash provided by financing activities – discontinued operations  
NET CASH PROVIDED BY FINANCING ACTIVITIES   720,279 1,809,476
NET DECREASE IN CASH   (49,400) (355,370)
Cash and cash included in assets held for sale at the beginning of the period   50,433 374,765
CASH AT END OF PERIOD 1,033 1,033 19,395
RECONCILIATION OF OPENING CASH WITHIN THE BALANCE SHEET TO THE STATEMENT OF CASH FLOWS      
Cash   50,433 373,822
Cash included in assets held for sale   943
CASH AT THE BEGINNING OF THE PERIOD   50,433 374,765
RECONCILIATION OF CLOSING CASH WITHIN THE BALANCE SHEET TO THE STATEMENT OF CASH FLOWS      
Cash 1,033 1,033 19,395
Cash included in assets held for sale
CASH AT THE END OF THE PERIOD $ 1,033 1,033 19,395
CASH PAID FOR INTEREST AND TAXES:      
Cash paid for income taxes  
Cash paid for interest   41,096 9,245
NON-CASH INVESTING AND FINANCING ACTIVITIES      
Fair value of warrants issued with convertible notes   87,676 819,384
Conversion of convertible debt to equity   198,716 160,000
Fair value of warrants issued for equity method investments   $ 108,220