v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,112,676) $ (3,818,470)
Adjustments to reconcile net loss to cash used in operating activities:    
Stock-based compensation expense 13,371 113,390
Operating expenses paid with unicoin rights 79,145 415,359
Interest expense accrued on the ten-year prepaid plan 32,754
Interest income from the five-year deferred payment plan (173)
Operating expenses paid with digital assets and USD Coin (“USDC”) 82,936 10,525
Impairment and write-off of digital assets 5,752
Depreciation and amortization expense 92,031 91,280
Credit loss expense 19,562
Non-cash operating lease expense 60,207 40,306
Non-cash transaction gain on reacquisition of unicoin rights (7,052)
Changes in operating assets and liabilities:    
Trade receivables payable in cash 30,548 187,992
Prepaid expenses and other current assets (144,359) (103,563)
Other assets 122,312
Accounts payable (96,096) 172,380
Accrued expenses and accrued payroll liabilities (301,174) (89,883)
Deferred revenue 4,059 (278)
ITSQuest tax liability (20,000)
Operating lease liabilities (61,322) (40,390)
Other liabilities (141,493) (54,551)
Net cash used in operating activities (2,347,420) (3,070,151)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales of digital assets and USD Coin 7,254
Purchases of digital assets and USD Coin (89,361)
Net cash (used in) provided by investing activities (82,107)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 1,757,046
Payment of short-term debt (44,000)
Proceeds from sales of unicoin rights 847,680 1,050,794
Repurchase of common stock (2,255)
Repayment of related party loan payable (51,398)
Net cash provided by financing activities 2,604,726 953,141
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS 175,199 (2,117,010)
CASH AND CASH EQUIVALENTS—Beginning of period 2,598,208 6,462,171
CASH AND CASH EQUIVALENTS—End of period 2,773,407 4,345,161
Supplemental Non-Cash Disclosures:    
Change in non-controlling interest upon increase in ownership of Unicorns, Inc. 1,343,077
Issuance of common stock in exchange of digital assets and USDC 26,134
Market value of digital assets received as proceeds from sales of unicoin rights 7,254 29,582
Investment in land in exchange of unicoin rights 711,074
Change in additional paid-in capital upon increase in ownership of Unicorns, Inc. 2,082,579
Expenses paid by related party on behalf of the Company 4,411
Repurchase of Unicorns common stock in exchange for unicoin rights $ 739,502