REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS |
|
| Schedule of condensed consolidated balance sheet |
CONDENSED CONSOLIDATED BALANCE SHEET |
September 30, 2025 |
(Unaudited) |
|
|
As Reported |
|
|
Revision |
|
|
As Revised |
|
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash |
|
$ |
287,688 |
|
|
$ |
- |
|
|
$ |
287,688 |
|
Accounts receivable, net |
|
|
194,442 |
|
|
|
(35,000 |
) |
|
|
159,442 |
|
Grant receivable |
|
|
761,515 |
|
|
|
- |
|
|
|
761,515 |
|
Inventory |
|
|
155,367 |
|
|
|
- |
|
|
|
155,367 |
|
Prepaid expenses |
|
|
63,164 |
|
|
|
- |
|
|
|
63,164 |
|
Total current assets |
|
|
1,462,176 |
|
|
|
(35,000 |
) |
|
|
1,427,176 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
7,685 |
|
|
|
- |
|
|
|
7,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Right to use assets |
|
|
169,443 |
|
|
|
- |
|
|
|
169,443 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets, net |
|
|
3,011,833 |
|
|
|
- |
|
|
|
3,011,833 |
|
Goodwill |
|
|
2,840,400 |
|
|
|
- |
|
|
|
2,840,400 |
|
Deposits, long term |
|
|
41,936 |
|
|
|
- |
|
|
|
41,936 |
|
Total other assets |
|
|
5,894,169 |
|
|
|
- |
|
|
|
5,894,169 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
7,533,473 |
|
|
|
(35,000 |
) |
|
$ |
7,498,473 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND DEFICIT |
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
12,400,939 |
|
|
|
2,828 |
|
|
$ |
12,403,767 |
|
Deferred revenue, grant |
|
|
56,590 |
|
|
|
- |
|
|
|
56,590 |
|
Lease liability, short term |
|
|
41,686 |
|
|
|
839 |
|
|
|
42,525 |
|
Notes payable, net of debt discount |
|
|
1,547,853 |
|
|
|
- |
|
|
|
1,547,853 |
|
Notes payable, related parties, net of debt discount |
|
|
991,059 |
|
|
|
- |
|
|
|
991,059 |
|
Total current liabilities |
|
|
15,038,127 |
|
|
|
3,667 |
|
|
|
15,041,794 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long term liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Economic Injury Disaster loan, long term |
|
|
69,803 |
|
|
|
- |
|
|
|
69,803 |
|
Upfront purchase price liability |
|
|
85,440 |
|
|
|
- |
|
|
|
85,440 |
|
Royalty liability |
|
|
317,577 |
|
|
|
- |
|
|
|
317,577 |
|
Royalty obligation, net of discount |
|
|
4,659,064 |
|
|
|
- |
|
|
|
4,659,064 |
|
Lease liability, long term |
|
|
127,757 |
|
|
|
(839 |
) |
|
|
126,918 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
20,297,768 |
|
|
|
2,828 |
|
|
|
20,300,596 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deficit: |
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock, no par value, 600,000 authorized |
|
|
|
|
|
|
|
|
|
|
|
|
Series A convertible preferred stock, no par value; 80,000 designated; 80,000 shares issued and outstanding as of September 30, 2025 |
|
|
16,000 |
|
|
|
- |
|
|
|
16,000 |
|
Series B convertible preferred stock, no par value; 160,000 designated; 160,000 shares issued and outstanding as of September 30, 2025 |
|
|
5,616 |
|
|
|
- |
|
|
|
5,616 |
|
Common stock, $0.001 par value; 750,000,000 shares authorized, 20,188,029 shares issued and outstanding as of September 30, 2025 |
|
|
20,188 |
|
|
|
- |
|
|
|
20,188 |
|
Common stock subscribed |
|
|
100,000 |
|
|
|
- |
|
|
|
100,000 |
|
Common stock subscription receivable |
|
|
- |
|
|
|
(35,000 |
) |
|
|
(35,000 |
) |
Additional paid in capital |
|
|
73,575,400 |
|
|
|
(1 |
) |
|
|
73,575,399 |
|
Accumulated deficit |
|
|
(87,201,843 |
) |
|
|
1,070,785 |
|
|
|
(86,131,058 |
) |
Total deficit attributable to BioCorRx Inc. |
|
|
(13,484,639 |
) |
|
|
1,035,784 |
|
|
|
(12,448,855 |
) |
Non-controlling interest |
|
|
720,344 |
|
|
|
(1,073,612 |
) |
|
|
(353,268 |
) |
Total deficit |
|
|
(12,764,295 |
) |
|
|
(37,828 |
) |
|
|
(12,802,123 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and deficit |
|
$ |
7,533,473 |
|
|
|
(35,000 |
) |
|
$ |
7,498,473 |
|
|
| Schedule of condensed consolidated statements of operations |
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS |
Three Months ended September 30, 2025 |
(Unaudited) |
|
|
As Reported |
|
|
Revision |
|
|
As Revised |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues, net |
|
$ |
635,224 |
|
|
$ |
(421,314 |
) |
|
$ |
213,910 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of implants and other costs |
|
|
358,812 |
|
|
|
(358,812 |
) |
|
|
- |
|
Research and development |
|
|
1,004,660 |
|
|
|
1 |
|
|
|
1,004,661 |
|
Selling, general and administrative |
|
|
1,145,353 |
|
|
|
(242,759 |
) |
|
|
902,594 |
|
Depreciation and amortization |
|
|
71,986 |
|
|
|
1 |
|
|
|
71,987 |
|
Total operating expenses |
|
|
2,580,811 |
|
|
|
(601,569 |
) |
|
|
1,979,242 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations |
|
|
(1,945,587 |
) |
|
|
180,255 |
|
|
|
(1,765,332 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expenses): |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense - related parties |
|
|
(195,515 |
) |
|
|
27,995 |
|
|
|
(167,520 |
) |
Interest expense, net |
|
|
(29,672 |
) |
|
|
(30,823 |
) |
|
|
(60,495 |
) |
Grant income |
|
|
867,130 |
|
|
|
438,219 |
|
|
|
1,305,349 |
|
Change in fair value of upfront purchase price liability |
|
|
(1,785 |
) |
|
|
- |
|
|
|
(1,785 |
) |
Change in fair value of royalty liability |
|
|
- |
|
|
|
(180,257 |
) |
|
|
(180,257 |
) |
Other miscellaneous income |
|
|
496,927 |
|
|
|
(438,219 |
) |
|
|
58,708 |
|
Total other income |
|
|
1,137,085 |
|
|
|
(183,085 |
) |
|
|
954,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before provision for income taxes |
|
|
(808,502 |
) |
|
|
(2,830 |
) |
|
|
(811,332 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
|
(808,502 |
) |
|
|
(2,830 |
) |
|
|
(811,332 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-controlling interest |
|
|
(1,109,371 |
) |
|
|
1,073,612 |
|
|
|
(35,759 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to BioCorRx Inc. |
|
$ |
(1,917,873 |
) |
|
$ |
1,070,782 |
|
|
$ |
(847,091 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per common share, basic and diluted |
|
$ |
(0.11 |
) |
|
$ |
0.06 |
|
|
$ |
(0.05 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding, basic and diluted |
|
|
18,162,783 |
|
|
|
396,645 |
|
|
|
18,559,428 |
|
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS |
Nine Months ended September 30, 2025 |
(Unaudited) |
|
|
As Reported |
|
|
Revision |
|
|
As Revised |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues, net |
|
$ |
948,362 |
|
|
$ |
(421,315 |
) |
|
$ |
527,047 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of implants and other costs |
|
|
358,813 |
|
|
|
(358,813 |
) |
|
|
- |
|
Research and development |
|
|
1,463,439 |
|
|
|
1 |
|
|
|
1,463,440 |
|
Selling, general and administrative |
|
|
3,254,760 |
|
|
|
(242,762 |
) |
|
|
3,011,998 |
|
Depreciation and amortization |
|
|
168,807 |
|
|
|
- |
|
|
|
168,807 |
|
Total operating expenses |
|
|
5,245,819 |
|
|
|
(601,574 |
) |
|
|
4,644,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from operations |
|
|
(4,297,457 |
) |
|
|
180,259 |
|
|
|
(4,117,198 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expenses): |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense - related parties |
|
|
(520,013 |
) |
|
|
27,994 |
|
|
|
(492,019 |
) |
Interest expense, net |
|
|
(153,841 |
) |
|
|
(30,823 |
) |
|
|
(184,664 |
) |
Loss on settlement of debt |
|
|
(187,514 |
) |
|
|
- |
|
|
|
(187,514 |
) |
Grant income |
|
|
1,435,379 |
|
|
|
438,219 |
|
|
|
1,873,598 |
|
Change in fair value of upfront purchase price liability |
|
|
(6,679 |
) |
|
|
- |
|
|
|
(6,679 |
) |
Change in fair value of royalty liability |
|
|
31,324 |
|
|
|
(180,257 |
) |
|
|
(148,933 |
) |
Other miscellaneous income |
|
|
661,256 |
|
|
|
(438,219 |
) |
|
|
223,037 |
|
Total other income (expense) |
|
|
1,259,912 |
|
|
|
(183,086 |
) |
|
|
1,076,826 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before provision for income taxes |
|
|
(3,037,545 |
) |
|
|
(2,827 |
) |
|
|
(3,040,372 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income taxes |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
|
(3,037,545 |
) |
|
|
(2,827 |
) |
|
|
(3,040,372 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-controlling interest |
|
|
(955,156 |
) |
|
|
1,073,612 |
|
|
|
118,456 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to BioCorRx Inc. |
|
$ |
(3,992,701 |
) |
|
$ |
1,070,785 |
|
|
$ |
(2,921,916 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per common share, basic and diluted |
|
$ |
(0.24 |
) |
|
$ |
0.07 |
|
|
$ |
(0.17 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding, basic and diluted |
|
|
16,901,306 |
|
|
|
- |
|
|
|
16,901,306 |
|
|
| Schedule of condensed consolidated statements of deficit |
|
|
Series A
Convertible
Preferred stock
|
|
|
Series B
Convertible
Preferred stock
|
|
|
Common stock |
|
|
Common
stock
|
|
|
Additional
Paid in
|
|
|
Accumulated |
|
|
Non-
Controlling
|
|
|
|
|
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Subscribed |
|
|
Capital |
|
|
Deficit |
|
|
Interest |
|
|
Total |
|
Balance, June 30, 2025 (unaudited) |
|
|
80,000 |
|
|
$ |
16,000 |
|
|
|
160,000 |
|
|
$ |
5,616 |
|
|
|
17,281,886 |
|
|
$ |
17,282 |
|
|
$ |
100,000 |
|
|
$ |
72,520,867 |
|
|
$ |
(85,283,967 |
) |
|
$ |
(389,027 |
) |
|
$ |
(13,013,229 |
) |
Common stock issued for services rendered |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
276,331 |
|
|
|
276 |
|
|
|
- |
|
|
|
103,599 |
|
|
|
- |
|
|
|
- |
|
|
|
103,875 |
|
Common stock issued in connection with subscription agreement |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,000,000 |
|
|
|
2,000 |
|
|
|
- |
|
|
|
698,000 |
|
|
|
- |
|
|
|
- |
|
|
|
700,000 |
|
Common stock issued in connection with conversion of promissory notes and accounts payable |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
582,511 |
|
|
|
583 |
|
|
|
- |
|
|
|
211,918 |
|
|
|
- |
|
|
|
- |
|
|
|
212,501 |
|
Common stock issued in connection with exercise of options |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
47,301 |
|
|
|
47 |
|
|
|
- |
|
|
|
15,703 |
|
|
|
- |
|
|
|
- |
|
|
|
15,750 |
|
Share-based compensation |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
16,060 |
|
|
|
- |
|
|
|
- |
|
|
|
16,060 |
|
Imputed interest for related party advances |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
9,253 |
|
|
|
- |
|
|
|
- |
|
|
|
9,253 |
|
Net loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(1,917,876 |
) |
|
|
1,109,371 |
|
|
|
(808,505 |
) |
Balance, September 30, 2025 (unaudited) |
|
|
80,000 |
|
|
$ |
16,000 |
|
|
|
160,000 |
|
|
$ |
5,616 |
|
|
|
20,188,029 |
|
|
$ |
20,188 |
|
|
$ |
100,000 |
|
|
$ |
73,575,400 |
|
|
$ |
(87,201,843 |
) |
|
$ |
720,344 |
|
|
$ |
(12,764,295 |
) |
|
|
Series A
Convertible
Preferred stock
|
|
|
Series B
Convertible
Preferred stock
|
|
|
Common stock |
|
|
Common
stock
|
|
|
Subscription |
|
|
Additional
Paid in
|
|
|
Accumulated |
|
|
Non-
Controlling
|
|
|
|
|
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Subscribed |
|
|
Receivable |
|
|
Capital |
|
|
Deficit |
|
|
Interest |
|
|
Total |
|
Balance, June 30, 2025 (unaudited) |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
Common stock issued for services rendered |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
47,301 |
|
|
|
47 |
|
|
|
- |
|
|
|
- |
|
|
|
15,703 |
|
|
|
- |
|
|
|
- |
|
|
|
15,750 |
|
Common stock issued in connection with subscription agreement |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(35,000 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(35,000 |
) |
Common stock issued in connection with conversion of promissory notes and accounts payable |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(1 |
) |
|
|
- |
|
|
|
- |
|
|
|
(1 |
) |
Common stock issued in connection with exercise of options |
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
- |
|
|
|
(47,301 |
) |
|
|
47 |
|
|
|
- |
|
|
|
- |
|
|
|
(15,703 |
) |
|
|
- |
|
|
|
- |
|
|
|
(15,750 |
) |
Share-based compensation |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Imputed interest for related party advances |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Net loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,070,785 |
|
|
|
(1,073,612 |
) |
|
|
(2,827 |
) |
Balance, September 30, 2025 (unaudited) |
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
|
$ |
- |
|
|
|
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(35,000 |
) |
|
$ |
(1 |
) |
|
$ |
1,070,785 |
|
|
$ |
(1,073,612 |
) |
|
$ |
(37,828 |
) |
|
|
Series A
Convertible
Preferred stock
|
|
|
Series B
Convertible
Preferred stock
|
|
|
Common stock |
|
|
Common
stock
|
|
|
Subscription |
|
|
Additional
Paid in
|
|
|
Accumulated |
|
|
Non-
Controlling
|
|
|
|
|
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Subscribed |
|
|
Receivable |
|
|
Capital |
|
|
Deficit |
|
|
Interest |
|
|
Total |
|
Balance, June 30, 2025 (unaudited) |
|
|
- |
|
|
$ |
16,000 |
|
|
|
160,000 |
|
|
$ |
5,616 |
|
|
|
17,281,886 |
|
|
$ |
17,282 |
|
|
$ |
100,000 |
|
|
$ |
- |
|
|
$ |
72,520,867 |
|
|
$ |
(85,283,967 |
) |
|
$ |
(389,027 |
) |
|
$ |
(13,013,229 |
) |
Common stock issued for services rendered |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
323,632 |
|
|
|
323 |
|
|
|
- |
|
|
|
- |
|
|
|
119,302 |
|
|
|
- |
|
|
|
- |
|
|
|
119,625 |
|
Common stock issued in connection with subscription agreement |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
2,000,000 |
|
|
|
2,000 |
|
|
|
- |
|
|
|
(35,000 |
) |
|
|
698,000 |
|
|
|
- |
|
|
|
- |
|
|
|
665,000 |
|
Common stock issued in connection with conversion of promissory notes and accounts payable |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
582,511 |
|
|
|
583 |
|
|
|
- |
|
|
|
- |
|
|
|
211,917 |
|
|
|
- |
|
|
|
- |
|
|
|
212,500 |
|
Share-based compensation |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
16,060 |
|
|
|
- |
|
|
|
- |
|
|
|
16,060 |
|
Imputed interest for related party advances |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
9,253 |
|
|
|
- |
|
|
|
- |
|
|
|
9,253 |
|
Net loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(847,091 |
) |
|
|
35,759 |
|
|
|
(811,332 |
) |
Balance, September 30, 2025 (unaudited) |
|
|
- |
|
|
$ |
16,000 |
|
|
|
160,000 |
|
|
$ |
5,616 |
|
|
|
20,188,029 |
|
|
$ |
20,188 |
|
|
$ |
100,000 |
|
|
$ |
(35,000 |
) |
|
$ |
73,575,399 |
|
|
$ |
(86,131,058 |
) |
|
$ |
(353,268 |
) |
|
$ |
(12,802,123 |
) |
|
| Schedule of condensed consolidated statement of cash flows |
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS |
Nine Months ended September 30, 2025 |
(Unaudited) |
|
|
As Reported |
|
|
Revision |
|
|
As Revised |
|
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(3,037,545 |
) |
|
$ |
(2,827 |
) |
|
$ |
(3,040,372 |
) |
Adjustments to reconcile net loss to cash flows used in operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
168,807 |
|
|
|
- |
|
|
|
168,807 |
|
Amortization of discount on royalty obligation |
|
|
355,662 |
|
|
|
- |
|
|
|
355,662 |
|
Amortization of debt discount |
|
|
53,861 |
|
|
|
- |
|
|
|
53,861 |
|
Amortization of right-of-use asset |
|
|
29,741 |
|
|
|
- |
|
|
|
29,741 |
|
Loss on settlement of debt |
|
|
187,514 |
|
|
|
- |
|
|
|
187,514 |
|
Change in fair value of upfront purchase price liability |
|
|
6,679 |
|
|
|
- |
|
|
|
6,679 |
|
Change in fair value of royalty liability |
|
|
(31,324 |
) |
|
|
180,257 |
|
|
|
148,933 |
|
Stock based compensation |
|
|
241,346 |
|
|
|
201,498 |
|
|
|
442,844 |
|
Fair value of options issued |
|
|
81,874 |
|
|
|
(81,874 |
) |
|
|
- |
|
Imputed interest for related party advances |
|
|
28,067 |
|
|
|
- |
|
|
|
28,067 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable |
|
|
(194,442 |
) |
|
|
35,000 |
|
|
|
(159,442 |
) |
Grant receivable |
|
|
(761,515 |
) |
|
|
- |
|
|
|
(761,515 |
) |
Other receivable |
|
|
(21,770 |
) |
|
|
21,770 |
|
|
|
- |
|
Inventory |
|
|
- |
|
|
|
(21,770 |
) |
|
|
(21,770 |
) |
Prepaid expenses |
|
|
(33,201 |
) |
|
|
- |
|
|
|
(33,201 |
) |
Accounts payable and accrued expenses |
|
|
1,819,098 |
|
|
|
(281,304 |
) |
|
|
1,537,794 |
|
Upfront purchase price liability |
|
|
(313,680 |
) |
|
|
- |
|
|
|
(313,680 |
) |
Lease liability |
|
|
(29,741 |
) |
|
|
- |
|
|
|
(29,741 |
) |
Net cash used in operating activities |
|
|
(1,450,569 |
) |
|
|
50,750 |
|
|
|
(1,399,819 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from sale of common stock |
|
|
15,750 |
|
|
|
(15,750 |
) |
|
|
- |
|
Proceeds from common stock subscription and royalty agreement |
|
|
700,000 |
|
|
|
(35,000 |
) |
|
|
665,000 |
|
Payment to Economic Injury Disaster loan |
|
|
(1,226 |
) |
|
|
- |
|
|
|
(1,226 |
) |
Payment of notes payable – related party |
|
|
(7,000 |
) |
|
|
(5,000 |
) |
|
|
(12,000 |
) |
Proceeds from notes payable – related party |
|
|
942,700 |
|
|
|
5,000 |
|
|
|
947,700 |
|
Net cash provided by financing activities |
|
|
1,650,224 |
|
|
|
(50,750 |
) |
|
|
1,599,474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase in cash |
|
|
199,655 |
|
|
|
- |
|
|
|
199,655 |
|
Cash, beginning of period |
|
|
88,033 |
|
|
|
- |
|
|
|
88,033 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash, end of period |
|
$ |
287,688 |
|
|
$ |
- |
|
|
$ |
287,688 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental disclosures of cash flow information: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest paid |
|
$ |
1,439 |
|
|
$ |
602 |
|
|
$ |
2,041 |
|
Taxes paid |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
Common stock issued in connection with conversion of promissory notes and accounts payable |
|
$ |
1,177,500 |
|
|
$ |
- |
|
|
$ |
1,177,500 |
|
Common stock issued in connection with exercise of warrants |
|
$ |
234 |
|
|
$ |
(234 |
) |
|
$ |
- |
|
Common stock issued for services rendered |
|
$ |
103,875 |
|
|
$ |
(103,875 |
) |
|
$ |
- |
|
Common stock issued in connection with APA (Note 4) |
|
$ |
153,500 |
|
|
$ |
- |
|
|
$ |
153,500 |
|
Warrants issued in connection with APA (Note 4) |
|
$ |
89,770 |
|
|
$ |
- |
|
|
$ |
89,770 |
|
Common stock issued in connection with issuance of promissory notes |
|
$ |
8,975 |
|
|
$ |
27,825 |
|
|
$ |
36,800 |
|
|