Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (2,566,081) $ (1,063,068)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 16,304
(Gain) loss on early extinguishment of debt 724,086 (4,397)
Amortization of debt discounts 329,310 2,035
Series A preferred stock issued for services 45,000
Common stock issued for services 580,804 89,850
Stock options issued for services 7,704 73,338
Decrease (increase) in assets:    
Accounts receivable 562
Inventory (18,153) (249,212)
Other current assets (24,888) (76,171)
Other assets (26,570)
Right-of-use assets 34,391
Security deposits (58)
Increase (decrease) in liabilities:    
Accounts payable 7,693 20,600
Accrued expenses 229,818 327,053
Deferred revenues (642)
Lease liability (31,940)
Net cash used in operating activities (729,707) (842,925)
Cash flows from investing activities    
Purchase of fixed assets (5,046)
Purchase of Pétalo Pharmaceutical, SAS (75,000)
Net cash used in investing activities (75,000) (5,046)
Cash flows from financing activities    
Proceeds from notes payable, related parties 347,000
Repayments of notes payable, related parties (207,000)
Proceeds from notes payable 1,728,500 262,500
Repayments of notes payable (660,000)
Proceeds from sale of preferred and common stock 550,000
Net cash provided by financing activities 1,208,500 812,500
Effect of exchange rate changes on cash (42,328) 199,690
Net increase in cash 361,465 164,219
Cash - beginning 726 11,016
Cash - ending 362,191 175,235
Supplemental disclosures:    
Interest paid 99,996 35,550
Income taxes paid
Non-cash investing and financing transactions:    
Dividends payable 29,832 28,725
Value of debt discounts attributable to commitment shares to related parties 9,839
Value of debt discounts attributable to commitment shares 153,639 42,175
Value of debt discounts attributable to commitment warrants $ 351,638