Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Comprehensive Loss

v3.24.1
Consolidated Statements of Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]    
Revenue $ 16,281
Cost of sales 13,577
Gross profit 2,704
OPERATING EXPENSES    
Wages and salaries 2,961,569 3,403,099
Write down of construction in progress deposit 1,963,304
Consulting 1,281,236 2,561,908
Professional fees 1,188,984 2,669,022
Office and administrative 1,041,725 1,327,739
Share based compensation 841,081 940,945
Depreciation and amortization 679,844 22,413
Investor and public relations 447,725 907,436
Lease expense 290,017 318,962
Sales and marketing 221,840 387,130
Shareholder and regulatory 121,472 221,083
Travel and entertainment 110,224 280,838
Research and development 6,589 615,693
Total operating expenses 11,155,610 13,656,268
Operating loss (11,152,906) (13,656,268)
OTHER EXPENSES / (INCOME)    
Foreign exchange loss (gain) 75,009 (290,079)
Change in fair value of derivative liabilities (9,360,886) (3,719,869)
Accretion of interest on debentures 7,963,299 3,396,578
Loss (gain) on conversion of convertible debt 1,190,730 (93,973)
Loss on debt extinguishment 680,935
Write-off of deposit 12,000
Other loss 105,684
Other income (86,467) (75,823)
Net loss (11,733,210) (12,873,102)
Other comprehensive loss    
Foreign currency translation 316,114 (609,624)
Comprehensive loss $ (11,417,096) $ (13,482,726)
Basic net loss attributed to common share [1] $ (10.11) $ (35.60)
Diluted net loss attributed to common share [1] $ (10.11) $ (35.60)
Weighted average number of common shares outstanding - basic [1] 1,160,523 361,607
Weighted average number of common shares outstanding - diluted [1] 1,160,523 361,607
[1] reflects the 1:50 reverse stock split effected on October 11, 2023.