Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,099,012) $ (4,732,028)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 168,564 141,285
Change in straight-line rent receivable 8,857 4,934
Amortization of right-of-use asset 68,206 60,254
Stock-based compensation and service expense 821,247 1,086,546
Loss on equity method investment 24,798 33,932
Amortization of debt discount 54,685
Change in fair market value of derivative liability (769,269)
Changes in operating assets and liabilities:    
Rent receivable 15,230 12,093
Rent receivable - related party (24,900)
Security deposit (432) 6,015
Deferred leasing costs 10,596 5,492
Prepaid expenses and other assets (20,731) 42,555
Accounts payable 389,106
Accrued liabilities and other payables 674,998 714,348
Accrued liabilities and other payables - related parties 71,541 91,280
Operating lease obligation (80,206) (60,254)
NET CASH USED IN OPERATING ACTIVITIES (2,686,722) (2,593,548)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,749)
Improvement of commercial real estate (10,332)
Additional investment in equity method investment (54,008) (40,179)
CASH USED IN INVESTING ACTIVITIES (55,757) (50,511)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of note payable - related party (390,000)
Proceeds from loan payable - related party 100,000 193,188
Repayments of loan payable - related party (410,000)  
Proceeds from issuance of convertible debt and warrants 3,718,943
Proceeds from equity offering 135,567 2,481,405
Disbursements for equity offering costs (24,067) (74,442)
NET CASH PROVIDED BY FINANCING ACTIVITIES 3,130,443 2,600,151
EFFECT OF EXCHANGE RATE ON CASH (15,294) 2,635
NET INCREASE (DECREASE) IN CASH 372,670 (41,273)
CASH - beginning of period 807,538 726,577
CASH - end of period 1,180,208 685,304
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for future services 56,027 234,750
Common stock issued for accrued liabilities 30,000 261,032
Deferred financing costs in accrued liabilities 16,093
Accrued professional fees relieved for shares issued 202,500
Warrants issued with convertible note payable 498,509
Derivative liability $ 2,782,569