Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net loss $ (515,938) $ (609,506)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 7,857 12,485
Gain on early extinguishment of debt (121,372)
Amortization of debt discounts 142,849
Series A preferred stock issued for services 45,000
Stock options issued for services 38,130 41,114
Decrease (increase) in assets:    
Accounts receivable 1,673 (9,469)
Inventory (225,037) (94,163)
Other current assets (27,353) 91,019
Other assets (7,023)
Right-of-use assets 22,242 33,430
Security deposits (16) (291,679)
Increase (decrease) in liabilities:    
Accounts payable (50,344) 93,596
Accrued expenses 171,267 89,690
Deferred revenues (1,694) 908
Lease liability (20,747) (26,497)
Net cash used in operating activities (561,983) (647,595)
Cash flows from investing activities    
Purchase of fixed assets (5,046) (3,482)
Net cash used in investing activities (5,046) (3,482)
Cash flows from financing activities    
Proceeds from notes payable 600,000
Proceeds from sale of preferred and common stock 450,000
Net cash provided by financing activities 450,000 600,000
Effect of exchange rate changes on cash 190,722 16,804
Net increase (decrease) in cash 73,693 (34,273)
Cash - beginning 11,016 119,678
Cash - ending 84,709 85,405
Supplemental disclosures:    
Interest paid 22,192 15,694
Income taxes paid
Non-cash investing and financing transactions:    
Dividends payable $ 12,773 $ 10,258