LIFEAPPS DIGITAL MEDIA INC.

CIK:0001510247|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue
Cost of net revenue
Gross profit
Operating expenses:
Personnel costs	27,852	132,097	188,253	1,521,218
Consulting fees	11,250	2,220	37,750	73,720
Legal and professional fees	78,245	308,382	360,030	567,032
Fund expenses			100,000
Sales and marketing	21,036	117,012	119,975	157,512
General and administrative	12,921	30,727	64,266	87,241
Depreciation and amortization	6,448	6,448	19,344	19,344
Total operating expenses	157,752	596,886	889,618	2,426,067
Loss from operations	(157,752)	(596,886)	(889,618)	(2,426,067)
Other expense:
Interest expense	(149,439)	(437,528)	(1,675,189)	(1,726,856)
Other income (expense)		(7,076)		(7,076)
Change in derivative liability	(318,536)	1,422,551	(1,471,760)	(823,425)
Total other expense	(467,975)	977,947	(3,146,949)	(2,557,357)
Provision for income taxes
Net income (loss)	$ (625,727)	$ 381,062	$ (4,036,567)	$ (4,983,424)
Weighted average common shares outstanding - basic and diluted	1,218,194,847	553,901,386	1,032,011,912	650,976,730
Net income (loss) per common share - basic and diluted	$ (0.001)	$ 0.00	$ (0.004)	$ (0.01)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net loss	$ (4,036,567)	$ (4,983,424)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount and original issue discount	158,690	1,077,708
Change in fair value of derivative liability	1,471,760	823,425
Financing related costs - debt	1,220,986	460,780
Stock-based compensation expense		1,218,114
Depreciation and amortization	19,344	19,344
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(1,345)	(12,058)
Accounts payable	551,600	(54,428)
Accrued salaries and consulting fees	82,990	223,279
Accrued interest and dividends	263,581	141,132
Net cash used in operating activities	(268,961)	(1,086,128)
Cash flows from investing activities:
Purchases of property and equipment
Other receivables		(205,000)
Net cash used in investing activities		(205,000)
Cash flows from financing activities:
Net proceeds (repayments) from promissory note agreements	200,000	(1,000)
Proceeds from issuance of convertible debenture agreements		300,000
Repayments of convertible debt agreements		(56,350)
Proceeds from issuance of common stock under equity line of credit		78,620
Proceeds from issuance of Series D preferred stock		1,061,600
Net cash provided by financing activities	200,000	1,382,870
Net change in cash	(68,961)	91,741
Cash at beginning of period	78,348	30,312
Cash at end of period	9,387	122,053
Supplemental disclosure of cash flow information:
Cash paid for income taxes
Cash paid for interest		4,944
Supplemental disclosure of non-cash financing activities:
Exercise of common stock warrants	140,966
Dividends on preferred stock	44,870	30,866
Conversion of Series D preferred stock for common stock	111,000
Deemed dividend on conversion of preferred stock	523,266
Debenture conversions	238,764
Reclassification of Series D preferred stock	1,015,999
Conversion of accrued consulting fees into common shares		338,608
Conversion of related party notes payable into common shares		16,085
Conversion of Series C preferred stock into common stock		$ 78,000

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 9,387	$ 78,348
Prepaid expenses and other current assets	8,270	6,925
Total current assets	17,657	85,273
Intangible assets, net	33,899	53,243
Total assets	51,556	138,516
Current liabilities:
Accounts payable	1,549,593	985,917
Accrued salaries and consulting fees	743,321	660,331
Accrued interest and dividends	948,604	640,153
Notes payable	256,986	126,986
Notes payable to related party	71,800	1,800
Convertible notes payable, net of debt discount	2,415,028	2,195,145
Derivative liability on convertible notes payable	3,036,614	1,398,127
Series D preferred stock	1,758,224
Total liabilities	10,780,170	6,008,459
Commitments and contingencies
Stockholders’ equity (deficit):
Common stock, $0.001 par value, 2,000,000,000 shares authorized, 1,244,213,365 and 832,719,287 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	1,244,213	832,719
Additional paid-in capital	12,549,666	13,215,129
Accumulated deficit	(24,522,546)	(19,917,844)
Total stockholders’ equity (deficit)	(10,728,614)	(5,869,943)
Total liabilities and stockholders’ equity (deficit)	51,556	138,516
Series A Preferred Stock [Member]
Stockholders’ equity (deficit):
Preferred stock
Series B Preferred Stock [Member]
Stockholders’ equity (deficit):
Preferred stock
Series C Preferred Stock [Member]
Stockholders’ equity (deficit):
Preferred stock	52	52
Series D Preferred Stock [Member]
Stockholders’ equity (deficit):
Preferred stock	$ 1