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 ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net loss $ (22,021,616) $ (11,968,726)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 38,847 44,344
Stock-based compensation expense 1,217,208 542,592
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 498,200 1,442,087
Accounts payable and accrued expenses (1,084,621) 851,374
Net cash used in operating activities (13,321,283) (9,076,328)
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 (217,588) (179,371)
Proceeds from issuance of common stock for warrant exercise 5,182,402
Net proceeds from issuance of common stock and warrants 11,350,676
Net cash provided by financing activities 5,096,902 11,171,305
Net (decrease) increase in cash and cash equivalents (8,224,381) 2,083,623
Cash and cash equivalents at beginning of period 18,267,994 20,208,301
Cash and cash equivalents at end of period 10,043,613 22,291,924
Supplemental disclosure of cash flow information:    
Interest paid 4,245 4,531
Non-cash investing and financing activities:    
Borrowings under short term notes payable for prepaid expense 413,784 272,577
Stock dividend on Series C preferred stock 661,458 413,215
Par value of common stock issued in exchange for services $ 25