BIOADAPTIVES INC
For the period ended Dec 31, 2023. Filed Apr 10, 2024.
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FY2023 · Filed Apr 10, 2024
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOW
| Years ended | ||||
|---|---|---|---|---|
| December 31, | ||||
| 2023 · 2022 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||
| Net loss | $(712,466) | $(895,570) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | ||||
| Change in fair value of derivative liabilities | 307,412 | 184,401 | ||
| Amortization of license and patent | 28,174 | 62,148 | ||
| Amortization of debt discount | 119,555 | 239,186 | ||
| Loss on settlement of debt | 13,200 | - | ||
| Unrealized (gain) loss on investments in marketable securities | 42 | 148 | ||
| Changes in operating assets and liabilities: | ||||
| Inventory | (6,404) | (4,127) | ||
| Security deposit | (2,500) | - | ||
| Prepaid expense | (10,000) | 1,000 | ||
| Accounts payable and accrued liabilities | 39,684 | 183,752 | ||
| Due to related party | (470) | 1,803 | ||
| Net Cash Used in Operating Activities | (223,773) | (227,259) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||
| Proceeds from issuance for common stock | 178,100 | - | ||
| Proceed from related party | 51,044 | 1,623 | ||
| Repayment to related party | (50,000) | (1,623) | ||
| Repayment of notes payable - related party | - | (25,272) | ||
| Proceeds from convertible notes | 80,000 | 195,000 | ||
| Net Cash Provided by Financing Activities | 259,144 | 169,728 | ||
| Net change in cash | 35,371 | (57,531) | ||
| Cash at beginning of period | 25,405 | 82,936 | ||
| Cash at end of period | $60,776 | $25,405 | ||
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||||
| Cash paid for income taxes | $ | - | $ | - |
| Cash paid for interest | $ | - | $4,728 | |
| NON-CASH INVESTING AND FINANCING ACTIVITIES | ||||
| Derivative liability recognized as debt discount | $150,000 | $217,000 | ||
| Issuance of common stock for conversion of debt | $282,111 | $521,679 | ||
| Issuance Series A preferred stock for license fee | $22,625 | $ | - | |
| Issuance Series B preferred stock for license fee | $18,000 | $ | - | |
| Issuance Series B preferred stock for settlement of debt - related party | $16,500 | $ | - | |
| Debts forgiveness - related party | $ | - | $10,000 | |
| Warrant issued for Patent’s acquisition | $ | - | $5,429 | |
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