XML 36 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities:    
Net loss $ (6,864,676) $ (2,410,673)
Adjustments to reconcile net loss to cash used in operating activities:    
Extinguishment of note payable 32,316
Accrued interest 156,619 13,684
Amortization of debt discount 288,631 68,453
Stock-based compensation 1,977,155 624,052
Inducement expense 802,109
Amortization of intangible assets 120,872
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (636,497) 104,340
Accounts payable and accrued liabilities 267,002 919,968
Net cash used in operating activities (3,888,785) (647,860)
Cash Flows From Investing Activities:    
Purchase of Tikkun Pharma license agreement (44,143)
Net cash used in investing activities (44,143)
Cash Flows From Financing Activities:    
Proceeds from convertible notes payable 50,000 300,000
Proceeds from note payable, net of offering costs 1,812,410 238,000
Advances from related party 22,000
Offering and Reverse Merger proceeds 3,372,500
September 2020 private placement 227,500  
December 2020 private placement 260,500  
Repayment of note payable (191,640)
Net cash provided by financing activities 5,531,270 560,000
Effect of foreign exchange rate on cash (63,596) 17,903
Net increase (decrease) in cash 1,534,746 (69,957)
Cash - beginning of period 43,714 113,671
Cash - end of period 1,578,460 43,714
Supplemental non-cash financing activities:    
Beneficial conversion feature issued with note payable 17,851  
Warrants issued in conjunction with notes payable 32,149 24,875
Common stock issued for accounts payable 756,523
Common stock issued in conjunction with note payable modification 101,713 22,266
Notes payable issued to consultant for prepaid services 150,000
Conversion of related party advances and notes payable into common stock 679,569
Common stock issued for skincare license $ 1,900,546