SCHEDULE OF ERROR CORRECTIONS |
Accordingly,
the following table summarizes the error corrections to the Company’s consolidated statement of cashflows for the year ended December
31, 2022.
SCHEDULE OF ERROR CORRECTIONS
| |
| | | |
| | | |
| | |
| |
31-Dec-22 | |
| |
As Previously Reported | | |
Impact of Adjustment | | |
As Revised | |
Consolidated Statement of Cashflows | |
| | | |
| | | |
| | |
Amortization of debt discount | |
| 2,512,725 | | |
| (191,714 | ) | |
| 2,321,011 | |
Stock based compensation | |
| 1,044,691 | | |
| (11 | ) | |
| 1,044,680 | |
Accounts payable and accrued liabilities | |
| 923,107 | | |
| (6,853 | ) | |
| 916,254 | |
Interest payable | |
| 361,588 | | |
| 1,832,265 | | |
| 2,193,853 | |
Net Cash used in Operating Activities | |
| (2,886,337 | ) | |
| 1,633,687 | | |
| (1,252,650 | ) |
Proceeds from convertible notes issued | |
| 1,747,680 | | |
| 279,890 | | |
| 2,027,570 | |
Repayment on convertible notes | |
| 1,146,359 | | |
| (1,918,077 | ) | |
| (771,718 | ) |
Proceeds from issuance of notes payable | |
| 3,448,246 | | |
| 10,001 | | |
| 3,458,247 | |
Proceeds from related parties | |
| 229,281 | | |
| (1 | ) | |
| 299,280 | |
Finance lease payments | |
| (72,768 | ) | |
| (5,500 | ) | |
| (78,268 | ) |
Net cash provided by Financing Activities | |
| 2,244,244 | | |
| (1,633,687 | ) | |
| 610,557 | |
|