Financialsexperimental
BRAIN SCIENTIFIC INC.. Every figure is as filed in the company's 10-Q and 10-K reports. Quarters a filing does not report on their own are worked out from its year-to-date figures and marked *.
USD (whole amounts)
| Cash Flow | FY FY22 31 Dec 2022 | FY FY21 31 Dec 2021 |
|---|---|---|
| Net loss | -9,100,686 | |
| Net loss | -12,343,858 | |
| Depreciation and amortization expense | 804,763 | 219,833 |
| Amortization of debt discount and non-cash interest expense | 2,760,515 | 89,787 |
| Gain on forgiveness of paycheck protection loan | -112,338 | |
| Change in fair market value of derivative liabilities | -1,573,792 | |
| Goodwill impairment | 913,184 | |
| Common stock issued for services | 280,174 | |
| Gain on settlement of lease | -1,660 | 71,872 |
| Fair value of stock options vested | 3,568,461 | 2,943,499 |
| Gain on settlement of debt | -201,097 | |
| Amortization of long-term assets | 20,000 | |
| Accounts receivable | 15,975 | -1,570 |
| Inventory | -3,468 | -99,372 |
| Advances to officers | 16,941 | -9,399 |
| Long-term prepaid insurance | -95,000 | |
| Prepaid expenses and other current assets | -243,325 | -95,920 |
| Accounts payable and accrued expenses | -365,903 | 112,504 |
| Accrued interest | 697,961 | |
| Operating lease liabilities, net | 233 | -70,176 |
| Proceeds from note payable | 3,469,982 | |
| NET CASH USED IN OPERATING ACTIVITIES | -5,935,070 | -5,866,792 |
| Purchase of property and equipment | -33,293 | -58,647 |
| NET CASH USED IN INVESTING ACTIVITIES | -33,293 | -58,647 |
| Proceeds from convertible notes payable, net of issuance costs | 3,750,000 | |
| Proceeds from convertible notes payable, net of issuance costs | 6,421,610 | |
| Repayment of promissory note and interest | -574,133 | |
| Repayment of related party loans | -140,989 | |
| Repayment of convertible notes payable | -30,000 | |
| Repayment of notes payable and interest | -320,000 | |
| Intangible assets recorded at acquisition | 11,113,000 | |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 5,930,621 | 6,645,849 |
| Goodwill recognized at acquisition | 913,184 | |
| Effect of exchange rate changes on cash | 93 | -3,990 |
| Shares issued for acquisition | 7,240,229 | |
| NET CHANGE IN CASH | -37,649 | 716,420 |
| CASH AT BEGINNING OF THE YEAR | 785,363 | 68,943 |
| Net assets assumed in merger | -1,193,499 | |
| Convertible notes payable assumed at merger | 2,451,641 | |
| CASH AT END OF THE YEAR | 747,714 | 785,363 |
| Notes payable converted into convertible notes payable | 4,119,982 | |
| Notes payable assumed in merger | 320,000 | |
| Cash paid for interest | 148,169 | 72,000 |
| Accrued interest converted into convertible notes payable | 208,425 | |
| Accounts payable settled with share issuance | 129,850 | |
| Convertible notes payable and accrued interest converted to common shares | 13,921,427 | |
| Services received settled with derivative warrants | 156,399 |