Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of derivative liability measured at fair value
    Significant Unobservable Inputs
(Level 3)
 
Balance of derivative liability as of January 1, 2022   $
-
 
Initial fair value of derivative liability attributable to embedded conversion feature of convertible note payable     2,782,569  
Gain from change in the fair value of derivative liability     (769,269 )
Balance of derivative liability as of June 30, 2022   $ 2,013,300  

 

Schedule of cash balances by geographic area
Country:   June 30, 2022     December 31, 2021  
United States   $ 716,240       60.7 %   $ 767,605       95.1 %
China     463,968       39.3 %     39,933       4.9 %
Total cash   $ 1,180,208       100.0 %   $ 807,538       100.0 %

 

Schedule of the effect of including these potential shares was antidilutive
    Three Months Ended
June 30,
    Six Months Ended
June 30,
 
    2022     2021     2022     2021  
Stock options     8,385,000       7,700,000       8,385,000       7,700,000  
Warrants     1,239,647      
-
      1,239,647       -  
Convertible note (*)     4,958,590      
-
      4,958,590      
-
 
Potentially dilutive securities     14,583,237       7,700,000       14,583,237       7,700,000  

 

(*) Assumed the convertible note was converted into shares of common stock of the Company at a conversion price of $0.75 per share.