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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
10-Q
|
☒ |
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For
the quarterly period ended September 30, 2021
OR
|
☐ |
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For
the transition period from ____________ to ____________
Commission
file number: 333-200529

ONE
WORLD PHARMA, INC.
(Exact
name of registrant as specified in its charter)
Nevada |
|
61-1744826 |
(State
or other jurisdiction of
incorporation
or organization) |
|
(I.R.S.
Employer
Identification
No.) |
|
|
|
3471
W. Oquendo Road, Suite 301, Las Vegas, NV |
|
89118 |
(Address
of principal executive offices) |
|
(zip
code) |
(800)
605-3210
(Registrant’s
telephone number, including area code)
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
N/A |
|
N/A |
|
N/A |
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files).
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller
reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large
accelerated filer |
☐ |
Accelerated
filer |
☐ |
Non-accelerated
filer |
☒ |
Smaller
reporting company |
☒ |
|
|
Emerging
growth company |
☒ |
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Indicate
the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practicable date.
The
number of shares of registrant’s common stock outstanding as of November 12, 2021 was 61,925,983.
TABLE
OF CONTENTS
PART
I – FINANCIAL INFORMATION
ITEM
1. FINANCIAL STATEMENTS
ONE
WORLD PHARMA, INC.
CONDENSED
CONSOLIDATED BALANCE SHEETS
| |
September
30, | | |
December
31, | |
| |
2021 | | |
2020 | |
| |
| (Unaudited) | | |
| | |
Assets | |
| | | |
| | |
| |
| | | |
| | |
Current
assets: | |
| | | |
| | |
Cash | |
$ | 698,667 | | |
$ | 28,920 | |
Accounts
receivable | |
| 28,923 | | |
| 5,636 | |
Inventory | |
| 526,680 | | |
| 267,152 | |
Other
current assets | |
| 220,720 | | |
| 118,911 | |
Total
current assets | |
| 1,474,990 | | |
| 420,619 | |
| |
| | | |
| | |
Right-of-use
assets | |
| 160,792 | | |
| 195,029 | |
Security
deposits | |
| 1,224,561 | | |
| 65,114 | |
Fixed
assets, net | |
| 947,543 | | |
| 726,820 | |
| |
| | | |
| | |
Total
Assets | |
$ | 3,807,886 | | |
$ | 1,407,582 | |
| |
| | | |
| | |
Liabilities
and Stockholders’ Equity (Deficit) | |
| | | |
| | |
| |
| | | |
| | |
Current
liabilities: | |
| | | |
| | |
Accounts
payable | |
$ | 463,378 | | |
$ | 734,554 | |
Accrued
expenses | |
| 453,155 | | |
| 550,535 | |
Dividends
payable | |
| 86,482 | | |
| 37,236 | |
Current
portion of lease liabilities | |
| 48,932 | | |
| 45,271 | |
Notes
payable, net of discounts of $558,696 at September 30, 2021 | |
| 360,578 | | |
| 334,841 | |
Total
current liabilities | |
| 1,412,525 | | |
| 1,702,437 | |
| |
| | | |
| | |
Long-term
lease liability | |
| 119,140 | | |
| 156,254 | |
| |
| | | |
| | |
Total
Liabilities | |
| 1,531,665 | | |
| 1,858,691 | |
| |
| | | |
| | |
Series
A convertible preferred stock, $0.001 par value, 500,000 shares authorized; 95,233 and 150,233 shares issued and outstanding at September
30, 2021 and December 31, 2020, respectively | |
| 952,330 | | |
| 1,502,330 | |
Series
B convertible preferred stock, $0.001 par value, 300,000 shares authorized; 238,502 and -0- shares issued and outstanding at September
30, 2021 and December 31, 2020, respectively | |
| 3,577,530 | | |
| - | |
Convertible
preferred stock value | |
| | | |
| | |
| |
| | | |
| | |
Stockholders’
Equity (Deficit): | |
| | | |
| | |
Preferred
stock, $0.001 par value, 9,200,000 shares authorized; no shares issued and outstanding at September 30, 2021 and December 31, 2020,
respectively | |
| - | | |
| - | |
Common
stock, $0.001 par value, 300,000,000 shares authorized; 61,675,983 and 53,085,305 shares issued and outstanding at September 30,
2021 and December 31, 2020, respectively | |
| 61,676 | | |
| 53,085 | |
Additional
paid-in capital | |
| 16,191,828 | | |
| 14,103,672 | |
Subscriptions
payable, consisting of 1,250,000 and 750,000 at September 30, 2021 and December 31, 2020, respectively | |
| 150,062 | | |
| 75,000 | |
Accumulated
other comprehensive loss | |
| (63,789 | ) | |
| (52,870 | ) |
Accumulated
(deficit) | |
| (18,593,416 | ) | |
| (16,132,326 | ) |
Total
Stockholders’ Equity (Deficit) | |
| (2,253,639 | ) | |
| (1,953,439 | ) |
| |
| | | |
| | |
Total
Liabilities and Stockholders’ Equity (Deficit) | |
$ | 3,807,886 | | |
$ | 1,407,582 | |
See
accompanying notes to financial statements.
ONE
WORLD PHARMA, INC.
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited)
| |
| | |
| | |
| | |
| |
| |
For
the Three Months Ended | | |
For
the Nine Months Ended | |
| |
September
30, | | |
September
30, | |
| |
2021 | | |
2020 | | |
2021 | | |
2020 | |
| |
| | |
| | |
| | |
| |
Revenues | |
$ | 7,845 | | |
$ | 42,598 | | |
$ | 73,450 | | |
$ | 103,384 | |
Cost
of goods sold | |
| 7,058 | | |
| 7,682 | | |
| 14,810 | | |
| 24,433 | |
Gross
profit | |
| 787 | | |
| 34,916 | | |
| 58,640 | | |
| 78,951 | |
| |
| | | |
| | | |
| | | |
| | |
Operating
expenses: | |
| | | |
| | | |
| | | |
| | |
General
and administrative | |
| 358,382 | | |
| 793,846 | | |
| 1,466,954 | | |
| 3,293,009 | |
Professional
fees | |
| 153,484 | | |
| 364,111 | | |
| 679,141 | | |
| 3,454,966 | |
Depreciation
expense | |
| 6,939 | | |
| 9,496 | | |
| 29,937 | | |
| 23,706 | |
Total
operating expenses | |
| 518,805 | | |
| 1,167,453 | | |
| 2,176,032 | | |
| 6,771,681 | |
| |
| | | |
| | | |
| | | |
| | |
Operating
loss | |
| (518,018 | ) | |
| (1,132,537 | ) | |
| (2,117,392 | ) | |
| (6,692,730 | ) |
| |
| | | |
| | | |
| | | |
| | |
Other
income (expense): | |
| | | |
| | | |
| | | |
| | |
Sublease
income | |
| 5,000 | | |
| - | | |
| 19,500 | | |
| - | |
Interest
income | |
| 765 | | |
| - | | |
| 2,323 | | |
| - | |
Loss
on disposal of fixed assets | |
| (17,563 | ) | |
| - | | |
| (17,563 | ) | |
| - | |
Interest
expense | |
| (137,863 | ) | |
| (7,517 | ) | |
| (347,958 | ) | |
| (28,571 | ) |
Total
other expense | |
| (149,661 | ) | |
| (7,517 | ) | |
| (343,698 | ) | |
| (28,571 | ) |
| |
| | | |
| | | |
| | | |
| | |
Net
loss | |
$ | (667,679 | ) | |
$ | (1,140,054 | ) | |
$ | (2,461,090 | ) | |
$ | (6,721,301 | ) |
| |
| | | |
| | | |
| | | |
| | |
Other
comprehensive loss: | |
| | | |
| | | |
| | | |
| | |
Loss
on foreign currency translation | |
$ | (5,500 | ) | |
$ | (497 | ) | |
$ | (10,919 | ) | |
$ | (28,700 | ) |
| |
| | | |
| | | |
| | | |
| | |
Net
other comprehensive loss | |
$ | (673,179 | ) | |
$ | (1,140,551 | ) | |
$ | (2,472,009 | ) | |
$ | (6,750,001 | ) |
Series
A convertible preferred stock declared ($0.60 per share) | |
| (14,403 | ) | |
| (14,870 | ) | |
| (49,246 | ) | |
| (14,870 | ) |
Net
loss attributable to common shareholders | |
$ | (687,582 | ) | |
$ | (1,155,421 | ) | |
$ | (2,521,255 | ) | |
$ | (6,764,871 | ) |
| |
| | | |
| | | |
| | | |
| | |
Weighted
average number of common shares outstanding - basic and fully diluted | |
| 61,662,287 | | |
| 48,588,395 | | |
| 59,712,489 | | |
| 47,982,936 | |
| |
| | | |
| | | |
| | | |
| | |
Net
loss per share - basic and fully diluted | |
$ | (0.01 | ) | |
$ | (0.02 | ) | |
$ | (0.04 | ) | |
$ | (0.14 | ) |
| |
| | | |
| | | |
| | | |
| | |
Dividends
declared per share of common stock | |
$ | 0.00 | | |
$ | 0.00 | | |
$ | 0.00 | | |
$ | 0.00 | |
See
accompanying notes to financial statements.
ONE
WORLD PHARMA, INC.
CONSOLIDATED
STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT)
(Unaudited)
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| |
For
the Three Months Ended September 30, 2020 | |
| |
Series A
Convertible | | |
Series B
Convertible | | |
| | |
| | |
Additional | | |
| | |
Accumulated
Other | | |
| | |
Total
Stockholders’ | |
| |
Preferred
Stock | | |
Preferred
Stock | | |
Common
Stock | | |
Paid-In | | |
Subscriptions | | |
Comprehensive | | |
Accumulated | | |
Equity | |
| |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
Capital | | |
Payable | | |
Income
(Loss) | | |
Deficit | | |
(Deficit) | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
Balance,
June 30, 2020 | |
| 40,000 | | |
$ | 400,000 | | |
| - | | |
$ | - | | |
| 50,360,305 | | |
$ | 50,360 | | |
$ | 12,952,647 | | |
$ | - | | |
$ | (44,451 | ) | |
$ | (13,748,413 | ) | |
$ | (789,857 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
B convertible preferred stock sold for cash to our CEO | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
B convertible preferred stock sold for cash to our CEO, shares | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
B convertible preferred stock sold for cash | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
B convertible preferred stock sold for cash, shares | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Adjustment of common stock issued for services | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Adjustment of common
stock issued for services, shares | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Commitment
shares issued pursuant to promissory note | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Commitment
shares issued pursuant to promissory note, shares | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Exercise
of cashless options | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Exercise
of cashless options, shares | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Warrants
issued as a debt discount | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
A Convertible Preferred Stock units sold for cash | |
| 107,833 | | |
| 1,078,330 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
Common
stock sold for cash | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Common
stock sold for cash, shares | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Conversion
of series A convertible preferred stock | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Conversion
of series A convertible preferred stock, shares | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Common
stock issued for services | |
| - | | |
| - | | |
| - | | |
| - | | |
| 875,000 | | |
| 875 | | |
| 331,625 | | |
| - | | |
| - | | |
| - | | |
| 332,500 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Common
stock payable for services | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 45,000 | | |
| - | | |
| - | | |
| 45,000 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Amortization
of common stock options issued for services | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 326,424 | | |
| - | | |
| - | | |
| - | | |
| 326,424 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
A convertible preferred stock dividend declared ($0.60 per share) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (14,870 | ) | |
| - | | |
| - | | |
| - | | |
| (14,870 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Loss
on foreign currency translation | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (497 | ) | |
| - | | |
| (497 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net
loss | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,140,054 | ) | |
| (1,140,054 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance,
September 30, 2020 | |
| 147,833 | | |
$ | 1,478,330 | | |
| - | | |
$ | - | | |
| 51,235,305 | | |
$ | 51,235 | | |
$ | 13,595,826 | | |
$ | 45,000 | | |
$ | (44,948 | ) | |
$ | (14,888,467 | ) | |
$ | (1,241,354 | ) |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| |
For
the Three Months Ended September 30, 2021 | |
| |
Series A
Convertible | | |
Series B
Convertible | | |
| | |
| | |
Additional | | |
| | |
Accumulated
Other | | |
| | |
Total
Stockholders’ | |
| |
Preferred
Stock | | |
Preferred
Stock | | |
Common
Stock | | |
Paid-In | | |
Subscriptions | | |
Comprehensive | | |
Accumulated | | |
Equity | |
| |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
Capital | | |
Payable | | |
Income
(Loss) | | |
Deficit | | |
(Deficit) | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
Balance,
June 30, 2021 | |
| 95,233 | | |
$ | 952,330 | | |
| 205,169 | | |
$ | 3,077,535 | | |
| 61,915,983 | | |
$ | 61,916 | | |
$ | 15,715,598 | | |
$ | - | | |
$ | (58,289 | ) | |
$ | (17,925,737 | ) | |
$ | (2,206,512 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
B convertible preferred stock sold for cash to our CEO | |
| - | | |
| - | | |
| 33,333 | | |
| 499,995 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Adjustment
of common stock issued for services | |
| - | | |
| - | | |
| - | | |
| - | | |
| (300,000 | ) | |
| (300 | ) | |
| (50,700 | ) | |
| - | | |
| - | | |
| - | | |
| (51,000 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Commitment
shares issued pursuant to promissory note | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 150,062 | | |
| - | | |
| - | | |
| 150,062 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Exercise
of cashless options | |
| - | | |
| - | | |
| - | | |
| - | | |
| 60,000 | | |
| 60 | | |
| (60 | ) | |
| - | | |
| - | | |
| - | | |
| - | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Warrants
issued as a debt discount | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 358,017 | | |
| - | | |
| - | | |
| - | | |
| 358,017 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Amortization
of common stock options issued for services | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 183,376 | | |
| - | | |
| - | | |
| - | | |
| 183,376 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
A convertible preferred stock dividend declared ($0.60 per share) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (14,403 | ) | |
| - | | |
| - | | |
| - | | |
| (14,403 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Loss
on foreign currency translation | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (5,500 | ) | |
| - | | |
| (5,500 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net
loss | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (667,679 | ) | |
| (667,679 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance,
September 30, 2021 | |
| 95,233 | | | $ | 952,330 | | |
| 238,502 | | |
$ | 3,577,530 | | |
| 61,675,983 | | |
$ | 61,676 | | |
$ | 16,191,828 | | |
$ | 150,062 | | |
$ | (63,789 | ) | |
$ | (18,593,416 | ) | |
$ | (2,253,639 | ) |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| |
For
the Nine Months Ended September 30, 2020 | |
| |
Series A
Convertible | | |
Series B
Convertible | | |
| | |
| | |
Additional | | |
| | |
Accumulated
Other | | |
| | |
Total
Stockholders’ | |
| |
Preferred
Stock | | |
Preferred
Stock | | |
Common
Stock | | |
Paid-In | | |
Subscriptions | | |
Comprehensive | | |
Accumulated | | |
Equity | |
| |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
Capital | | |
Payable | | |
Income
(Loss) | | |
Deficit | | |
(Deficit) | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
Balance,
December 31, 2019 | |
| - | | |
$ | - | | |
| - | | |
$ | - | | |
| 44,804,305 | | |
$ | 44,804 | | |
$ | 8,150,004 | | |
$ | 250,000 | | |
$ | (16,248 | ) | |
$ | (8,167,166 | ) | |
$ | 261,394 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
A convertible preferred stock units sold for cash | |
| 147,833 | | |
| 1,478,330 | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Common
stock sold for cash | |
| - | | |
| - | | |
| - | | |
| - | | |
| 500,000 | | |
| 500 | | |
| 249,500 | | |
| (250,000 | ) | |
| - | | |
| - | | |
| - | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Common
stock issued for services | |
| - | | |
| - | | |
| - | | |
| - | | |
| 5,931,000 | | |
| 5,931 | | |
| 3,335,569 | | |
| - | | |
| - | | |
| - | | |
| 3,341,500 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Common
stock payable for services | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 45,000 | | |
| - | | |
| - | | |
| 45,000 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Amortization
of common stock options issued for services | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| 1,875,623 | | |
| - | | |
| - | | |
| - | | |
| 1,875,623 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Series
A convertible preferred stock dividend declared ($0.60 per share) | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (14,870 | ) | |
| - | | |
| - | | |
| - | | |
| (14,870 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Loss
on foreign currency translation | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (28,700 | ) | |
| - | | |
| (28,700 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Net
loss | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (6,721,301 | ) | |
| (6,721,301 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance,
September 30, 2020 | |
| 147,833 | | |
$ | 1,478,330 | | |
| - | | |
$ | - | | |
| 51,235,305 | | |
$ | 51,235 | | |
$ | 13,595,826 | | |
$ | 45,000 | | |
$ | (44,948 | ) | |
$ | (14,888,467 | ) | |
$ | (1,241,354 | ) |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| |
For
the Nine Months Ended September 30, 2021 | |
| |
Series A
Convertible | | |
Series B
Convertible | | |
| | |
| | |
Additional | | |
| | |
Accumulated
Other | | |
| | |
Total
Stockholders’ | |
| |
Preferred
Stock | | |
Preferred
Stock | | |
Common
Stock | | |
Paid-In | | |
Subscriptions | | |
Comprehensive | | |
Accumulated | | |
Equity | |
| |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
Capital | | |
Payable | | |
Income
(Loss) | | |
Deficit | | |
(Deficit) | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
Balance,
December 31, 2020 | |
| 150,233 | | |
$ | 1,502,330 | | |
| - | | |
$ | - | | |
| 53,085,305 | | |
$ | 53,085 | | |
$ | 14,103,672 | | |
$ | 75,000 | | |
$ | (52,870 | ) | |
$ | (16,132,326 | ) | |
$ | (1,953,439 | ) |
Balance | |
| 150,233 | | |
$ | 1,502,330 | | |
| - | | |
$ | - | | |
| 53,085,305 | | |
$ | 53,085 | | |
$ | 14,103,672 | | |
$ | 75,000 | | |
$ | (52,870 | ) | |
$ | (16,132,326 | ) | |
$ | (1,953,439 | ) |
| |
| | | |
|