Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net loss $ (3,552,171) $ (3,622,085)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Common stock issued for services 15,000 30,000
Stock-based compensation 438,708 246,403
Changes in operating working capital items:    
Other receivables 0 (785,000)
Prepaid expenses and other current assets (295,887) (217,001)
Accounts payable and accrued liabilities 326,140 211,655
Accrued legal settlement costs 0 (3,525,000)
Net Cash Used in Operating Activities (3,068,210) (7,661,028)
Investing Activities    
Trademarks (6,174) (14,655)
Net Cash Used in Investing Activities (6,174) (14,655)
Financing Activities    
Net proceeds from issuances of common stock 7,594,845 0
Net Cash Provided by Financing Activities 7,594,845 0
Net Increase (Decrease) in Cash and Cash Equivalents 4,520,461 (7,675,683)
Cash and Cash Equivalents, Beginning of Period 24,747,613 21,531,665
Cash and Cash Equivalents, End of Period 29,268,074 13,855,982
Cash paid during the period:    
Interest paid 0 0
Income taxes paid 0 0
Non-Cash Financing Activities:    
Accumulated preferred stock dividend 0 380,644
Conversion of Series A convertible preferred stock to common stock and payment of paid-in-kind dividends to Series A preferred stockholder 0 17,173
Payment of accrued liabilities with common stock $ 15,000 $ 54,690