v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash $ 4,268,368 $ 532,885
Prepaid assets 382,628 518,407
TOTAL CURRENT ASSETS 4,650,996 1,051,292
PROPERTY AND EQUIPMENT    
Furniture and fixtures 25,237 25,237
Less: accumulated depreciation 14,924 14,777
Furniture and fixtures, net 10,313 10,460
OTHER ASSETS    
Investments 6,941,083 5,691,084
Intangible assets, net 496,719 541,875
Co-development options, net 1,304,167 1,554,166
Right of use asset, net of accumulated amortization 49,789 59,783
Total other assets 8,791,758 7,846,908
TOTAL ASSETS 13,453,067 8,908,660
CURRENT LIABILITIES    
Accounts payable 1,120,657 1,269,763
Accrued expenses 602,447 736,884
Notes payable, in default 100,000 100,000
Convertible notes payable, net of debt discount of $445,756 and $435,635 1,739,244 1,087,873
Right of use liability, current portion 32,191 42,305
Derivative liability 635,489 1,041,484
Customer deposit 1,187,126 0
Other current liabilities 235,000 235,000
TOTAL CURRENT LIABILITIES 5,652,154 4,513,309
LONG TERM LIABILITIES    
SBA loan payable 150,000 150,000
Derivative liability warrants 169,125 359,250
Right of use liability, non-current portion 18,874 18,875
TOTAL LONG TERM LIABILITIES 337,999 528,125
TOTAL LIABILITIES 5,990,153 5,041,434
COMMITMENTS AND CONTINGENCIES (NOTE 11)
STOCKHOLDERS' EQUITY    
Preferred Stock, $0.0001 par value, 10,000,000 shares authorized, 3,800 and 6,250 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 1 2
Common stock, $0.0001 par value, 150,000,000 shares authorized, 3,364,939 and 2,116,191 shares issued and outstanding at March 31, 2025, and December 31, 2024, respectively 337 212
Additional paid-in capital 108,382,890 102,976,748
Common stock subscribed 0 541,875
Subscription receivable (250,000) (2,100,000)
Accumulated deficit (101,654,614) (98,233,673)
TOTAL STOCKHOLDERS' EQUITY - CONTROLLING INTERESTS 6,478,614 3,185,164
TOTAL STOCKHOLDERS' EQUITY - NONCONTROLLING INTERESTS 984,300 682,062
TOTAL STOCKHOLDERS' EQUITY 7,462,914 3,867,226
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 13,453,067 $ 8,908,660