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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss before non-controlling interest $ (8,879,160) $ (10,167,247)
Adjustments to reconcile net loss to net cash (used) by operating activities:    
Investment in unconsolidated entity (438,656)  
Depreciation and amortization 4,517 4,937
Financed lender fees amortization 60,545 21,277
Note payable interest accretion (74,268) (81,709)
Right of use asset amortization 71,207 64,860
Share-based compensation 625,293 210,324
Change in hybrid-instrument fair value   425,215
Deferred income (3,818,750)  
(Increase) decrease in:    
Accounts receivable (97,464) (369,386)
Other assets 261,636 267,025
Increase (decrease) in:    
Accounts payable 2,550,544 2,789,237
Accrued expenses and other 6,896,227 4,240,126
NET CASH (USED) BY OPERATING ACTIVITIES (2,838,329) (2,595,341)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (13,930)  
NET CASH (USED) PROVIDED BY INVESTING ACTIVITIES (13,930)  
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of notes payable 1,184,295 2,886,154
Operating lease liability reduction (68,185) (58,988)
Sale of subsidiary equity 713,879  
Payment of debt obligation (354,582) (221,503)
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES 1,475,407 2,605,663
NET INCREASE (DECREASE) IN CASH (1,376,852) 10,322
CASH AT BEGINNING OF PERIOD 6,163,205 213,389
CASH AT END OF PERIOD 4,786,353 223,711
SUPPLEMENTARY INFORMATION:    
Interest paid 0  
Income taxes paid 0  
NON-CASH TRANSACTIONS:    
Director compensation settled with equity 100,000 $ 278,602
Accrued interest settled with common stock $ 34,520