Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.22.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
SALES:    
Third parties $ 1,475,628 $ 555,863
Related party 1,200
Total Sales 1,476,828 555,863
COST OF SALES (excluding depreciation expense) 657,298 242,506
GROSS PROFIT 819,530 313,357
OPERATING EXPENSES:    
Compensation and related benefits (including stock-based compensation of $4,085,868 and $2,108,472 for the years ended December 31, 2021, and 2020, respectively) 6,165,006 3,741,051
Research and development (3,250) 16,627
Professional fees 1,031,540 546,979
General and administrative expenses 636,353 485,733
Total Operating Expenses 7,829,649 4,790,390
LOSS FROM OPERATIONS (7,010,119) (4,477,033)
OTHER INCOME (EXPENSES):    
Gain on debt extinguishment, net 96,442 877,823
Other income 67,778 6,574
Derivative expense (90,623)
Interest expense (282,959) (751,184)
Total Other (Expenses) Income (118,739) 42,590
NET LOSS (7,128,858) (4,434,443)
Net income of subsidiary attributable to noncontrolling interest (15,525)
Preferred stock dividend and deemed dividend (4,401,907) (1,534,381)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (11,546,290) $ (5,968,824)
NET LOSS PER COMMON SHARE:    
Basic and diluted (in Dollars per share) $ (0.05) $ (0.03)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:    
Basic and diluted (in Shares) 254,299,139 172,978,187