Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net loss $ (3,300,680) $ (1,513,374)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 25,578
(Gain) loss on early extinguishment of debt 724,086 (4,397)
Amortization of debt discounts 529,423 26,233
Series A preferred stock issued for services 90,000
Common stock issued for services 624,725 173,850
Stock options issued for services 11,597 121,052
Amended warrants 51,008
Decrease (increase) in assets:    
Accounts receivable (179) (133)
Inventory (16,633) (258,583)
Other current assets (3,585) 20,219
Other assets (33,666)
Right-of-use assets 34,391
Increase (decrease) in liabilities:    
Accounts payable 46,322 17,774
Accrued expenses 323,648 290,021
Deferred revenues (263)
Lease liability (31,940)
Net cash used in operating activities (1,010,268) (1,043,238)
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 62,000
Repayments of notes payable, related parties (357,000)
Proceeds from notes payable 1,728,500 262,500
Repayments of notes payable (660,000)
Proceeds from sale of preferred and common stock 150,000 550,000
Net cash provided by financing activities 1,208,500 874,500
Effect of exchange rate changes on cash (42,328) 172,920
Net increase in cash 80,904 (864)
Cash - beginning 726 11,016
Cash - ending 81,630 10,152
Supplemental disclosures:    
Interest paid 147,996 40,693
Income taxes paid
Non-cash investing and financing transactions:    
Dividends payable 44,915 43,808
Deposit on equipment settled with note payable 35,000
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