Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 1,881,108 $ 2,431,299
Investments in securities, fair value 670,000 647,363
Accounts receivable, net 1,800
Accrued interest receivable 45,000 15,000
Note Receivable 1,000,000 1,000,000
Prepaid expenses and other current assets 12,362 6,508
Total current assets 3,608,470 4,101,970
Property and equipment    
Property and equipment 48,239 48,239
Accumulated depreciation and amortization (47,186) (46,648)
Property and equipment, net 1,053 1,591
Other assets    
Investment in account receivable, net of discount and current portion 238,849
Long term investments 104,431 104,431
Total other assets 104,431 343,280
Total assets 3,713,954 4,446,841
Current liabilities    
Accounts payable 97 3,152
Accrued expenses 49,834 91,460
Total current liabilities 49,931 94,612
Long-term liabilities    
Accrued salary, retirement, and incentive fee related party 456,714 436,512
Total long-term liabilities 456,714 436,512
Total liabilities 506,645 531,124
Commitments and Contingencies (Note 16)
Shareholders’ equity    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized; and 11 series Q preferred shares issued and outstanding at June 30, 2024 and December 31, 2023. [1]
Common stock, $0.0001 par value, 75,000,000 shares authorized; and 23,284,559 and 24,686,105 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively. 2,328 2,469
Additional paid in capital 12,022,470 12,101,055
Accumulated deficit (8,817,489) (8,187,807)
Non-controlling interest
Total shareholders’ equity 3,207,309 3,915,717
Total liabilities and shareholders’ equity $ 3,713,954 $ 4,446,841
[1] Par value is less than $0.01.