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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,949,373) $ (7,051,024)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 17,347 20,687
Amortization of right of use asset 54,065 44,272
Stock-based compensation 13,430 1,979,794
Stock-based professional fees 106,484 204,041
Stock-based professional fees - Dragon Interactive 12,616
Gain from initial consolidation of variable interest entities (42,737)
Gain on deconsolidation of variable interest entities (107)
Foreign currency exchange loss 12,965 102
Non-cash research and development expense 166,667
Impairment loss on digital currencies and other digital assets 23,381
Accrued interest included in short-term investments (239,382)
Unrealized loss on short-term investments 47,672
Changes in operating assets and liabilities:    
Accounts receivable (13) 242
Accounts payable - related party (21,801)
Prepaid expenses (65,899) (61,456)
Accounts payable and accrued expenses 185,469 (14,385)
Contract liabilities (30) (108)
Operating lease liability (60,823) (48,808)
NET CASH USED IN OPERATING ACTIVITIES (3,507,202) (5,159,510)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of short-term investments 9,757,175 9,845,000
Purchase of short-term investments, net (8,487,609) (5,363,163)
Purchase of property and equipment (49,485)
Increase in cash from consolidation of variable interest entities 64,538
NET CASH PROVIDED BY INVESTING ACTIVITIES 1,269,566 4,496,890
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of related party advances (1,315)
Proceeds from sale of Series B preferred stock 1,000
Proceeds from sale of common stock, net 559,251
Proceeds from sale of subsidiary common stock 495,998
Proceeds from sale of pre-funded warrants 861,522
Purchase of treasury stock (397,969)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 1,916,771 (398,284)
NET DECREASE IN CASH AND CASH EQUIVALENTS (320,865) (1,060,904)
Effect of exchange rate changes on cash 34
CASH AND CASH EQUIVALENTS - beginning of period 953,362 1,732,956
CASH AND CASH EQUIVALENTS - end of period 632,497 672,086
Cash paid for:    
Interest
Income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Initial recording on noncontrolling interest deficit 2,239,530
Common stock issued for future services $ 100,000