General form of registration statement for all companies including face-amount certificate companies

Statements of Cash Flows

v3.20.4
Statements of Cash Flows - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Dec. 31, 2018
Operating activities:        
Net loss $ (711,936) $ (3,088,771) $ (3,425,307) $ (1,689,655)
Adjustments required to reconcile net loss to net cash used in operating activities:        
Amortization 2,706 2,705 3,607 3,607
Stock-based compensation 512,937 194,943
Changes in operating assets and liabilities:        
Accounts payable 15,000 323,092 393,402 80,967
Accrued interest 54,910 42,599 59,353 35,442
Unreimbursed expenses (accrued) 126,383 141,275 (19,263) (45,313)
Related party payable 2,500,000 2,500,000 1,500,000
Net cash used in operating activities (79,100) (293,267) (114,952)
Financing activities:        
Proceeds/repurchase of preferred stock 100,000
Advance from related party/shareholder 215,000 100,000
Net proceeds from initial public offering of common stock 6,207,502
Net cash provided by (used in) financing activities 6,207,502 215,000 200,000
Net increase (decrease) in cash 6,207,502 (79,100) (78,267) 85,048
Cash, beginning of period 6,835 85,102 85,102 54
Cash, end of period 6,214,337 6,002 6,835 85,102
Non-cash investing and financing activities:        
Common stock to settle related party payable 12,000,000 12,000,000
Conversion of preferred stock to common 2,023
Issuance of preferred stock due to antidilution $ 42