v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,178,739) $ (7,151,876)
Adjustments to reconcile net loss to    
Depreciation 133,438 167,390
Change in straight-line rent receivable 17,345 (7,227)
Amortization of operating lease right-of-use asset 90,648 89,731
Stock-based compensation and service expense 254,802 1,056,214
Loss (income) from equity method investments 669,777 (351,496)
Distribution of earnings from equity method investment 611,888
Impairment of equity method investment - Epicon 464,406
Beneficial conversion feature related to convertible note payable 1,115,433 290,794
Change in fair market value of derivative liability (380,758) (128,894)
Changes in operating assets and liabilities:    
Rent receivable 131,700 31,848
Security deposit 398
Deferred leasing costs 25,052 25,051
Prepaid expense and other assets (54,683) (29,393)
Accrued liabilities and other payables (1,176,402) (140,442)
Accrued liabilities and other payables - related parties (59,846) 59,481
Operating lease obligation (90,648) (84,387)
NET CASH USED IN OPERATING ACTIVITIES (3,890,993) (5,708,402)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (22,171)
Payment for equity interest purchase (100,000)
NET CASH USED IN INVESTING ACTIVITIES (100,000) (22,171)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from loan payable - related party 850,000
Proceeds from issuance of convertible debts and warrants 3,367,750 1,900,000
Payments of convertible debts issuance costs (282,700) (210,500)
Repayments of convertible debts (3,100,000)
Proceeds from issuance of balloon promissory note 1,000,000
Payments of balloon promissory note issuance costs (64,436)
Advance from pending sale of noncontrolling interest in subsidiary 2,022,445
Proceeds from equity offering 2,857,852 635,391
Disbursements for equity offering costs (138,405) (19,132)
NET CASH PROVIDED BY FINANCING ACTIVITIES 4,726,942 4,091,323
EFFECT OF EXCHANGE RATE ON CASH 2,848 (9,889)
NET INCREASE (DECREASE) IN CASH 738,797 (1,649,139)
CASH - beginning of period 285,400 1,990,910
CASH - end of period 1,024,197 341,771
Cash paid for:    
Interest 712,235 442,222
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for future services 28,879 58,500
Common stock issued for accrued liabilities 60,000 164,871
Reclassification of advances for equity interest purchase to equity method investment 9,000,000
Series B Convertible Preferred Stock issued related to equity method investment 11,000,000
Accrued purchase price related to equity method investment 1,000,000
Warrants issued as convertible notes payable finder's fee 40,900 13,597
Warrants issued with convertible notes payable recorded as debt discount 438,568 156,345
Common stock issued as convertible notes payable commitment fee 320,546 182,500
Deferred financing costs in accrued liabilities 152,892
Equity method investment payable paid by a related party 566,667
Reclassification of deferred offering costs $ 175,136

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