Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income (Loss) $ (7,250,698) $ (4,177,391)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount 1,232,641 1,373,575
Depreciation and amortization 5,753 4,702
Bad debt expense 34,359
Impairment loss on equity investment 22,658
Loss on equity investment 735,178 (106,305)
Loss (Gain) on change in fair value of derivative liability 451,679 312,631
Interest expense recognized for the excess of fair value of derivative liability over net book value of notes payable at issuance 1,035,115
Loss on share inducement and settlement of warrant liability 427,500
Stock-based compensation 661,292 665,767
Unrealized (Gain) Loss on trading securities 39,063 13,945
Gain on Settlement of joint venture (386,930)
Loss on settlement of liabilities 256,336
Changes in operating assets and liabilities:
Accounts receivable (5,496) 9,754
Inventories (90,561) 3,652
Prepaid expenses and other current assets (161,352) (77,605)
Accounts payable 386,122 205,061
Accrued expenses and other current liabilities (23,063) 446,746
Right-of-use assets 7,858 10,459
Right-of-use liabilities (7,858) (10,577)
Net cash provided by (used in) operating activities (2,693,632) (1,262,358)
Cash flows from investing activities:
Purchases of property and equipment (121,603) (1,271)
Payment to establish joint venture (99,098)
Proceeds from sale of investments 190,401
Investment in joint venture 125,000
Acquisition of business (155,550)
Net cash provided by (used in) investing activities (185,850) 123,729
Cash flows from financing activities:
Proceeds from issuance of notes payable 2,065,863 876,302
Proceeds from PPP loan payable 0 35,500
Proceeds from sales of trading securities 10,854
Repayments of notes payable (626,005)
Repayments to related parties (20,000)
Proceeds from sale of common stock 1,492,851 153,685
Net cash provided by (used in) financing activities 2,912,709 1,076,341
Net increase (decrease) in cash 33,227 (62,288)
Cash at beginning of period 74,503 211,765
Cash at end of period 107,730 149,477
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for taxes
Non cash financing activities:
Common stock issued in settlement of convertible notes payable 1,989,282 2,635,647
Common stock issued in settlement of related party notes payable and accrued compensation 50,613
Reclassification of derivative liabilities to additional paid-in capital 6,270,052 3,886,971
Gains on settlement of JV investment 386,930
Common stock issued for investment 1,300,000
Common stock issued to settle liabilities 8,623
Common stock issued for acquisition of business 1,617,501
Common shares issued in settlement of legal case $ 1,283,632