Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.23.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
SALES:    
Third parties $ 2,232,646 $ 1,475,628
Related party 1,200
Total Sales 2,232,646 1,476,828
COST OF SALES (excluding depreciation expense) 954,402 657,298
GROSS PROFIT 1,278,244 819,530
OPERATING EXPENSES:    
Compensation and related benefits (including stock-based compensation of $1,039,943 and $4,085,868 for the years ended December 31, 2022, and 2021, respectively) 2,844,783 6,165,006
Research and development (3,250)
Professional fees 815,542 1,031,540
General and administrative expenses 810,413 636,353
Total Operating Expenses 4,470,738 7,829,649
LOSS FROM OPERATIONS (3,192,494) (7,010,119)
OTHER INCOME (EXPENSES):    
(Loss) gain on debt extinguishment and inducement expense, net (343,895) 96,442
Other income 67,778
Interest expense (1,610,062) (282,959)
Interest expense - related party (10,027)
Total Other Expenses, net (1,963,984) (118,739)
NET LOSS (5,156,478) (7,128,858)
Net loss (income) of subsidiary attributable to noncontrolling interest 38,513 (15,525)
Preferred stock dividend and deemed dividend (60,090) (4,401,907)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (5,178,055) $ (11,546,290)
NET LOSS PER COMMON SHARE:    
Basic and diluted (in Dollars per share) $ (0.02) $ (0.05)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:    
Basic and diluted (in Shares) 308,121,062 254,299,139