v3.23.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (11,930,847) $ (9,090,499)
Bad debt provision 2,295 8,091
Depreciation 330,723 311,761
Change in straight-line rent receivable (6,821) (51,246)
Amortization of right-of-use asset 135,557 127,020
Stock-based compensation and service expense 1,106,634 2,110,169
Loss on equity method investment 41,863 60,463
Loss on impairment of equipment held for sale 22,285
Amortization of debt discount 3,281,078
Amortization of debt issuance costs 29,606
Conversion inducement expense 344,264
Change in fair market value of derivative liability (600,749)
Changes in operating assets and liabilities:    
Rent receivable (3,265) (168)
Rent receivable - related party (40,500) (33,600)
Security deposit (416) 6,847
Deferred leasing costs 27,298 21,203
Other assets (45,996) 95,133
Accrued liabilities and other payables 331,425 1,330,890
Accrued liabilities and other payables - related parties 79,898 200,477
Operating lease obligation (141,556) (121,020)
NET CASH USED IN OPERATING ACTIVITIES (7,037,224) (5,024,479)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,749) (17,502)
Improvement of commercial real estate (10,332)
Additional investment in equity method investment (51,999) (40,301)
Payments for equity interest purchase (8,999,722)
NET CASH USED IN INVESTING ACTIVITIES (9,053,470) (68,135)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments of note payable - related party (390,000)
Proceeds from loan payable - related party 100,000 2,550,262
Repayments of loan payable - related party (410,000)
Proceeds from issuance of convertible debt and warrants 3,718,943
Proceeds from issuance of balloon promissory note 4,800,000
Payments of debt issuance costs (266,454)
Proceeds from equity offering 735,567 2,860,304
Disbursements for equity offering costs (24,067) (240,434)
Proceeds from issuance of convertible preferred stock 9,000,000
NET CASH PROVIDED BY FINANCING ACTIVITIES 17,263,989 5,170,132
EFFECT OF EXCHANGE RATE ON CASH 10,077 3,443
NET INCREASE IN CASH 1,183,372 80,961
CASH - beginning of year 807,538 726,577
CASH - end of year 1,990,910 807,538
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest 176,000
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for future services 155,700
Common stock issued for accrued liabilities 30,000 276,032
Deferred financing costs in accrued liabilities 57,599
Accrued professional fees relieved for shares issued 202,500
Warrants issued with convertible note payable recorded as debt discount 498,509
Bifurcated embedded conversion feature recorded as derivative liability and debt discount 2,782,569
Conversion of convertible note payable and accrued interest into common stock 4,072,958
Reclassification of derivative liability to equity 2,181,820
Related party loan and accrued interest settled in shares $ 2,888,593 $ 3,000,000

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