Quarterly report pursuant to Section 13 or 15(d)

CONVERTIBLE DEBT (Tables)

v3.22.2
CONVERTIBLE DEBT (Tables)
6 Months Ended
Jun. 30, 2022
CONVERTIBLE DEBT  
Summary of extinguishment of the convertible notes

    

June 19, 2022

Carrying value of convertible debt net of issuance costs and debt discount (includes amortization of debt discount of $117,212 from April 1, 2022 to June 19, 2022)

$

4,166,363

Derivative liability remeasured as of June 19, 2022

 

2,741,058

Total liabilities extinguished on conversion

 

6,907,421

Fair value of Series 1 Convertible Preferred Shares recorded to additional paid-in-capital

 

5,600,000

Gain on extinguishment of convertible debt and derivative liability

$

1,307,421