Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

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Condensed Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,869,721) $ (914,688)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 73,050  
Stock-based compensation 223,947 189,237
Accretion of debt discount 206,417
FMV adjustment for Contingent Stock and Contingent Warrants 287,000  
Changes in operating assets    
Prepaid expenses and other 1,000 (250)
Other assets – deposits   (370)
Accounts payable and accrued liabilities (137,744) 10,000
Net cash used in operating activities (1,216,051) (716,071)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Deposits – Manufacturing Equipment (850,000)
Other assets – Escrow (40,000) (75,000)
Net cash used in investing activities (40,000) (925,000)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from common stock subscriptions and subscriptions receivable 32,500 1,310,000
Net cash provided by financing activities 32,500 1,310,000
NET INCREASE (DECREASE) IN CASH (1,223,551) (331,071)
CASH — BEGINNING OF PERIOD 1,479,166 1,790,203
CASH — END OF PERIOD 255,615 1,459,132
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for interest 39,111
Cash paid for taxes  
Non-cash investing and financing activity:    
Vested stock options and common stock for fixed assets acquired 63,512 100,000
Vested stock options issued as consideration for acquisition $ 40,901