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Unaudited Interim Condensed Statements Of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:    
Net loss $ (4,603,342) $ (1,232,216)
Adjustments to reconcile net loss to net cash used in in operating activities:    
Amortization of debt discount 41,611 36,664
Depreciation expense 5,022  
Provision for doubtful accounts 77,714  
Periodic pension costs 13,352  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,046,247) 85,605
Other receivables, net – related parties (9,760) (1,719)
Accounts payable (3,479,270) 246,734
Interest payable (313,342) 51,789
Other accrued liabilities (419,073) 280,219
Net cash used in operating activities (9,733,335) (532,924)
Investing Activities:    
Purchases of property and equipment (32,755)  
Net cash used in investing activities (32,755)  
Financing Activities:    
Proceeds from the issuance of common shares in initial public offering, net 11,001,569  
Proceeds from the issuance of warrants 6,742,638  
Exercise of warrants 1,149,531  
Proceeds from bridge loan 108,610  
Payment on Swiss government loan (277,537)  
Payment on second credit facility (150,000)  
Payment on convertible loans (420,020)  
Payment on convertible loans – related party (111,730)  
Payment on bridge loan (670,380)  
Payment of shareholder loans (583,443)  
Proceeds from convertible loans   174,215
Proceeds from convertible loan – related party   105,530
Proceeds from Swiss government loan   262,137
Deferred offering costs   (102,319)
Net cash provided by financing activities 16,789,238 439,563
Effect of exchange rate on cash and cash equivalents (24,744) 18,498
Change in cash and cash equivalents 6,998,404 (74,863)
Cash and cash equivalents at the beginning of period 93,711 220,267
Cash and cash equivalents at the end of period 7,092,115 145,404
Supplemental disclosure of non-cash and financing activities:    
Deferred financing costs transferred to additional paid in capital 946,912  
Issuance of common shares to consultant for payment of expenses 50,000  
Debt discount on convertible loans   39,496
Debt discount on convertible loan – related party $ 30,030