Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.23.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net Revenue [1] $ 298,484 $ 1,150 $ 319,143 $ 2,457
Cost of sales 74,704 146 76,025 292
Gross profit 223,780 1,004 243,118 2,165
Operating expenses:        
Research and development 330,376 319,744 1,035,118 949,388
Clinical development 106,422 60,941 161,310 141,684
Selling, general and administrative 2,023,917 595,702 4,576,708 1,295,558
Depreciation and amortization 57,569 773 100,805 2,852
Total operating expenses 2,518,284 977,160 5,873,941 2,389,482
Loss from operations (2,294,504) (976,156) (5,630,823) (2,387,317)
Other income (expense):        
Interest income 27,193 7,414 109,971 8,261
Interest expense (8,785) (896,502) (11,801) (2,443,350)
Other income 4,606 4,606
Other expense (17,100) (17,100)
Gain on extinguishment of debt 212,258
Fair value adjustments on convertible notes payable (3,053,914) (1,866,922)
Net loss before provision for income taxes (2,288,590) (4,919,158) (5,545,147) (6,477,070)
Income tax expense (2,294) (300) (18,700) (2,460)
Net loss $ (2,290,884) $ (4,919,458) $ (5,563,847) $ (6,479,530)
Net loss per common share, basic $ (0.26) $ (1.17) $ (0.65) $ (2.03)
Net loss per common share, diluted $ (0.26) $ (1.17) $ (0.65) $ (2.03)
Weighted average common shares outstanding, basic 8,696,554 4,203,781 8,551,154 3,194,765
Weighted average common shares outstanding, diluted 8,696,554 4,203,781 8,551,154 3,194,765
[1] The three months ended revenue for PPLS and its controlling interest entity, Village Oaks, only recognizes partial period of September 19 through September 30, 2023.