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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 126,906 $ 90,601
Other current assets 17,919 5,321
Total current assets 144,825 95,922
Patents, net of accumulated amortization of $1,784,718 and $1,625,846, respectively 4,272,282 1,131,154
Total assets 4,417,107 1,227,076
Current liabilities    
Accounts payable and accrued liabilities 171,374 148,533
Loans payable 138,000 138,000
Funding liabilities 9,397,344 5,453,204
Loan payable - related party 2,796,500 2,796,500
Warrant liability 153,994 145,428
Accrued interest 1,039,849 904,573
Total current liabilities 13,697,061 9,586,238
Non-current liabilities    
Loan payable – SBA 150,000 150,000
Purchase price of patents 53,665 53,665
Total liabilities 13,900,726 9,789,903
Commitments and contingencies (Note 2)
Stockholders’ deficit:    
Preferred stock, par value $0.00003 per share - authorized 10,000,000 shares - no shares issued and outstanding
Common stock, par value $0.00003 per share; authorized 30,000,000 at March 31, 2023 and December 31, 2022; shares issued and outstanding 5,331,973 at March 31, 2023 and December 31, 2022 160 160
Additional paid-in capital 17,644,852 17,626,279
Accumulated deficit (27,128,859) (26,189,494)
Total Quest Patent Research Corporation stockholders’ deficit (9,483,847) (8,563,055)
Non-controlling interest in subsidiary 228 228
Total stockholders’ deficit (9,483,619) (8,562,827)
Total liabilities and stockholders’ deficit $ 4,417,107 $ 1,227,076