v3.24.1.1.u2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (1,701,022) $ (515,938)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 7,857
Loss on early extinguishment of debt 724,086
Amortization of debt discounts 46,030
Series A preferred stock issued for services 45,000
Common stock issued for services 492,081
Stock options issued for services 3,852 38,130
Decrease (increase) in assets:    
Accounts receivable (282) 1,673
Inventory (26,257) (225,037)
Other current assets (18,498) (27,353)
Other assets (7,023)
Right-of-use assets 22,242
Security deposits (16)
Increase (decrease) in liabilities:    
Accounts payable 90,311 (50,344)
Accrued expenses 139,949 171,267
Deferred revenues (1,694)
Lease liability (20,747)
Net cash used in operating activities (249,750) (561,983)
Cash flows from investing activities    
Purchase of fixed assets (5,046)
Net cash used in investing activities (5,046)
Cash flows from financing activities    
Proceeds from notes payable, related parties 347,000
Proceeds from notes payable 285,000
Repayments of notes payable (300,000)
Proceeds from sale of preferred and common stock 450,000
Net cash provided by financing activities 332,000 450,000
Effect of exchange rate changes on cash (42,328) 190,722
Net increase (decrease) in cash 39,922 73,693
Cash - beginning 726 11,016
Cash - ending 40,648 84,709
Supplemental disclosures:    
Interest paid 10,500 22,192
Income taxes paid
Non-cash investing and financing transactions:    
Dividends payable 14,916 12,773
Value of debt discounts attributable to commitment shares to related parties 9,839
Value of debt discounts attributable to commitment shares $ 73,454

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