Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss from continuing operations $ (10,476,484) $ (7,674,481)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 13,610 956
Amortization expense 472,623
Stock-based compensation 522,329 678,890
Change in fair value of warrant liabilities (111,552) (871,680)
Non-cash lease expense 2,880
Gain on sale of assets (65,048)
Changes in operating assets and liabilities:    
Prepaid expenses (422,692) (669,627)
Other assets 156,481 (621,279)
Accounts payable and accrued liabilities 388,064 465,606
Lease liabilities (17,564)
Net cash used in operating activities (9,519,789) (8,709,179)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (34,337) (14,376)
Net cash proceeds from sale of assets 55,000
Acquisition of business, net of cash acquired 56,579
Net cash provided by investing activities 20,663 42,203
CASH FLOWS FROM FINANCING ACTIVITIES:    
Note payable proceeds 392,354
Principal payments on note payable (392,354)
Repurchase of common stock (3,726,416)
Net cash used in financing activities (3,726,416)
Effect of foreign currency translation on cash (7,056) (129,521)
Net cash used in operating activities of discontinued operations (594,383) (1,026,911)
Net cash provided by (used in) investing activities of discontinued operations 323,807 (698,790)
Net cash provided by (used in) financing activities of discontinued operations
NET CHANGE IN CASH (13,503,174) (10,522,198)
Cash and cash equivalents - Beginning of period 33,087,864 52,901,962
Cash and cash equivalents - End of period 19,584,690 42,379,764
Supplemental disclosure of cash flow information:    
Lease liabilities arising from obtaining right-of-use assets 410,392
Amount due from sale of assets $ 95,000