Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net loss $ (17,525,056) $ (8,132,177)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 25,985 26,192
Stock-based compensation expense 1,022,255 310,417
Stock issued in exchange for services 12,001
Stock issued for purchase of Noachis Terra 8,030,699
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 274,581 1,387,250
Accounts payable and accrued expenses (484,159) 697,695
Net cash used in operating activities (8,655,695) (5,698,622)
Cash flows from investing activities:    
Purchase of property and equipment (11,354)
Net cash used in investing activities (11,354)
Cash flows from financing activities:    
Borrowings under short-term notes payable 132,088
Payments on short-term notes payable (143,864) (129,375)
Proceeds from issuance of common stock for warrant exercise 28,500
Net proceeds from issuance of common stock and warrants 11,350,676
Net cash provided by financing activities 16,724 11,221,301
Net (decrease) increase in cash and cash equivalents (8,638,971) 5,511,325
Cash and cash equivalents at beginning of period 18,267,994 20,208,301
Cash and cash equivalents at end of period 9,629,023 25,719,626
Supplemental disclosure of cash flow information:    
Interest paid 2,387 2,045
Non-cash investing and financing activities:    
Borrowings under short term notes payable for prepaid expense 17,688
Stock dividend on Series C preferred stock 661,458 413,215
Par value of common stock issued in exchange for services $ 25