Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 8 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (40,984) $ (2,173,521)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,379
Stock-based compensation 471,250
Shares issued for services 750,000
Change in fair value of warrant liabilities (2,334,400)
Changes in operating assets and liabilities:    
Changes in prepaid expenses (4,308) (329,443)
Changes in accounts payable and accrued liabilities 6,603 440,677
Net cash used in operating activities (38,689) (3,174,058)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (21,503)
Net cash used in investing activities (21,503)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash proceeds from sale of 4,800,000 Units 21,862,200
Cash proceeds from issuance of common stock 282,339 1,208,926
Sale of common stock and warrants, net of fees and costs 27,165,452
Cash proceeds received from exercise of warrants 7,000,000
Payment of offering costs (1,307,400)
Net cash probided by financing activities 282,339 55,929,178
Effect of foreign currency translation (10,561)
NET CHANGE IN CASH 243,650 52,723,056
Cash - Beginning of period 243,650
Cash - End of period 243,650 52,966,706
Non-cash investing and financing activities:    
Initial recording of warrant liabilities $ 3,787,200