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United Health Products, Inc.
Companies
"Commitment"
Keywords
Tables in SEC filings
Source
Additional | ||||||||||||||||||||||||
Common Stock | Paid-in | Subscription | Accumulated | |||||||||||||||||||||
Shares | Amount | Capital | Receivable | Deficit | Total | |||||||||||||||||||
Balance at December 31, 2021 | 228,667,229 | $ | 228,667 | $ | 71,017,881 | $ | - | $ | (72,388,442) | $ | (1,141,894) | |||||||||||||
Issuance of common stock for services and compensation | 1,170,000 | 1,170 | 482,280 | - | - | 483,450 | ||||||||||||||||||
Sale of common stock, net of $26,200 of offering costs | 579,028 | 579 | 149,108 | - | - | 149,687 | ||||||||||||||||||
Common stock repurchased and cancelled | (2,478,115) | (2,478) | (856,303) | - | - | (858,781) | ||||||||||||||||||
Common stock issued for commitment fee | 757,576 | 758 | 249,242 | - | - | 250,000 | ||||||||||||||||||
Common stock issued to settle accrued liabilities – related party | 425,000 | 425 | 203,575 | - | - | 204,000 | ||||||||||||||||||
Common stock issued to settle accrued liabilities | 672,919 | 673 | 253,328 | - | - | 254,001 | ||||||||||||||||||
Common stock issued for conversion of convertible notes payable and accrued interest | 827,397 | 827 | 288,245 | - | - | 289,072 | ||||||||||||||||||
Common stock issued for a stock subscription receivable | 250,000 | 250 | 50,300 | (50,550) | - | - | ||||||||||||||||||
Amortization of deferred offering costs | - | - | (6,961) | - | - | (6,961) | ||||||||||||||||||
Net Loss | - | - | - | - | (1,687,501) | (1,687,501) | ||||||||||||||||||
Balance at December 31, 2022 | 230,871,034 | 230,871 | 71,830,695 | (50,550) | (74,075,943) | (2,064,927) | ||||||||||||||||||
Sale of common stock, net of $18,000 of offering costs | 10,145,000 | 10,145 | 2,247,979 | 50,550 | - | 2,308,674 | ||||||||||||||||||
Common stock issued to settle accrued liabilities – related party | 1,204,688 | 1,204 | 269,827 | - | - | 271,031 | ||||||||||||||||||
Common stock issued to settle accrued liabilities | 712,500 | 713 | 153,038 | - | - | 153,751 | ||||||||||||||||||
Common stock issued for litigation settlement | 1,850,000 | 1,850 | 460,650 | - | - | 462,500 | ||||||||||||||||||
Amortization of deferred offering costs | - | - | (221,988) | - | - | (221,988) | ||||||||||||||||||
Net Loss | - | - | - | - | (2,623,267) | (2,623,267) | ||||||||||||||||||
Balance at December 31, 2023 | 244,783,222 | $ | 244,783 | $ | 74,740,201 | $ | - | $ | (76,699,210) | $ | (1,714,226) |
2023 | 2022 | |||||||
Cash Flows from Operating Activities: | ||||||||
Net Loss | $ | (2,623,267) | $ | (1,687,501) | ||||
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: | ||||||||
Stock for services and compensation | - | 483,450 | ||||||
Loss on settlement of debt | 80,532 | 209,598 | ||||||
Amortization of right-of-use asset | 807 | - | ||||||
Stock issued for litigation settlement | 462,500 | - | ||||||
Amortization of debt discount | 32,992 | 16,533 | ||||||
Amortization expense | 4,050 | 4,050 | ||||||
Stock received as other income | - | (808,781) | ||||||
Changes in assets and liabilities: | ||||||||
Inventory | 1,132 | (34,730) | ||||||
Prepaid and other current assets | 128 | (17,932) | ||||||
Accounts payable and accrued expenses | (131,665) | 638,721 | ||||||
Accrued litigation settlement | (300,000) | 280,000 | ||||||
Accrued liabilities – related party | 272,146 | 296,872 | ||||||
Net Cash Used In Operating Activities | (2,200,645) | (619,720) | ||||||
Cash Flows from Investing Activities: | ||||||||
Purchase of patents | - | (40,500) | ||||||
Security deposit | (2,850) | - | ||||||
Net Cash Used In Investing Activities | (2,850) | (40,500) | ||||||
Cash Flows from Financing Activities: | ||||||||
Repayment on loan payable - related parties | (4,000) | (226,275) | ||||||
Proceeds from loan payable - related parties | - | 383,275 | ||||||
Repayments on loan payable | (19,136) | (90,864) | ||||||
Repurchase of common stock | - | (50,000) | ||||||
Proceeds from convertible notes payable – related party | - | 93,000 | ||||||
Proceeds from convertible notes payable | - | 392,975 | ||||||
Payment of offering costs | (17,400) | (26,200) | ||||||
Proceeds from sale of common stock | 2,326,074 | 175,887 | ||||||
Net Cash Provided By Financing Activities | 2,285,538 | 651,798 | ||||||
Increase (decrease) in Cash and Cash Equivalents | 82,043 | (8,422) | ||||||
Cash and Cash Equivalents - Beginning of period | 13,377 | 21,799 | ||||||
CASH AND CASH EQUIVALENTS - END OF PERIOD | $ | 95,420 | $ | 13,377 | ||||
Supplemental cash flow information: | ||||||||
Cash paid for interest | $ | 703 | $ | 12,871 | ||||
Cash paid for income taxes | $ | - | $ | - | ||||
Schedule of Non-Cash Financing Activities: | ||||||||
Cancellation of common stock | $ | - | $ | 250 | ||||
Common stock issued for commitment fee | $ | - | $ | 250,000 | ||||
Common stock issued to settle accrued liabilities – related party | $ | 218,250 | $ | 127,500 | ||||
Common stock issued to settle accounts payable and accrued liabilities | $ | 126,000 | $ | 203,126 | ||||
Accounts payable and accrued expenses paid with promissory note payable | $ | 10,000 | $ | - | ||||
Accrued litigation settlement paid with loan payable | $ | - | $ | 100,000 | ||||
Initial recognition of operating lease right-of-use asset and operating lease liability | $ | 92,425 | $ | - | ||||
Loans payable – related party converted to convertible notes payable – related party | $ | - | $ | 372,000 | ||||
Common stock issued for conversion of convertible notes payable and accrued interest | $ | - | $ | 206,849 | ||||
Common stock issued for subscription receivable | $ | - | $ | 50,550 | ||||
Debt discount related to original issue discount | $ | - | $ | 49,525 | ||||
Amortization of deferred offering costs | $ | 221,988 | $ | 6,961 |
Additional | ||||||||||||||||||||||||
Common Stock | Paid-in | Subscription | Accumulated | |||||||||||||||||||||
Shares | Amount | Capital | Receivable | Deficit | Total | |||||||||||||||||||
Balance at December 31, 2021 | 228,667,229 | $ | 228,667 | $ | 71,017,881 | $ | - | $ | (72,388,442) | $ | (1,141,894) | |||||||||||||
Issuance of common stock for services and compensation | 1,170,000 | 1,170 | 482,280 | - | - | 483,450 | ||||||||||||||||||
Sale of common stock, net of $26,200 of offering costs | 579,028 | 579 | 149,108 | - | - | 149,687 | ||||||||||||||||||
Common stock repurchased and cancelled | (2,478,115) | (2,478) | (856,303) | - | - | (858,781) | ||||||||||||||||||
Common stock issued for commitment fee | 757,576 | 758 | 249,242 | - | - | 250,000 | ||||||||||||||||||
Common stock issued to settle accrued liabilities – related party | 425,000 | 425 | 203,575 | - | - | 204,000 | ||||||||||||||||||
Common stock issued to settle accrued liabilities | 672,919 | 673 | 253,328 | - | - | 254,001 | ||||||||||||||||||
Common stock issued for conversion of convertible notes payable and accrued interest | 827,397 | 827 | 288,245 | - | - | 289,072 | ||||||||||||||||||
Common stock issued for a stock subscription receivable | 250,000 | 250 | 50,300 | (50,550) | - | - | ||||||||||||||||||
Amortization of deferred offering costs | - | - | (6,961) | - | - | (6,961) | ||||||||||||||||||
Net Loss | - | - | - | - | (1,687,501) | (1,687,501) | ||||||||||||||||||
Balance at December 31, 2022 | 230,871,034 | 230,871 | 71,830,695 | (50,550) | (74,075,943) | (2,064,927) | ||||||||||||||||||
Sale of common stock, net of $18,000 of offering costs | 10,145,000 | 10,145 | 2,247,979 | 50,550 | - | 2,308,674 | ||||||||||||||||||
Common stock issued to settle accrued liabilities – related party | 1,204,688 | 1,204 | 269,827 | - | - | 271,031 | ||||||||||||||||||
Common stock issued to settle accrued liabilities | 712,500 | 713 | 153,038 | - | - | 153,751 | ||||||||||||||||||
Common stock issued for litigation settlement | 1,850,000 | 1,850 | 460,650 | - | - | 462,500 | ||||||||||||||||||
Amortization of deferred offering costs | - | - | (221,988) | - | - | (221,988) | ||||||||||||||||||
Net Loss | - | - | - | - | (2,623,267) | (2,623,267) | ||||||||||||||||||
Balance at December 31, 2023 | 244,783,222 | $ | 244,783 | $ | 74,740,201 | $ | - | $ | (76,699,210) | $ | (1,714,226) |