Liquidity Capital Resources and Going Concern

6 Months Ended

Jun. 30, 2022

Liquidity Capital Resources and Going Concern

Liquidity, Capital Resources and Going Concern

Note 3 – Liquidity, Capital Resources and Going Concern

As of June 30, 2022, the Company had working capital of $9,426,666 compared to working capital of $11,263,270 at December 31, 2021.  As of June 30, 2022, the Company had an accumulated deficit of $5,247,148. For the six months ended June 30, 2022, the Company had a net loss of $2,087,133 and used $1,023,731 of net cash in operations for the period. As of June 30, 2021, the Company had working capital of $6,142,238 compared to working capital of $10,572 at December 31, 2020.  As of June 30, 2021, the Company had an accumulated deficit of $1,936,266. For the six months ended June 30, 2021, the Company had a net loss of $1,940,858 and used $472,286 of net cash in operations for the period.

The Company believes it has sufficient cash-on-hand (including its marketable securities described in Note 2 above) for the Company to meet its financial obligations as they come due at least the next 12 months from the date of the report as they come due.