Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (13,419,038) $ (22,021,616)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 34,817 38,847
Stock-based compensation expense 1,455,670 1,217,208
Stock issued for purchase of Noachis Terra 8,030,699
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (243,413) 498,200
Accounts payable and accrued expenses 586,177 (1,084,621)
Net cash used in operating activities (11,585,787) (13,321,283)
Cash flows from investing activities:    
Purchase of property and equipment (24,123)
Net cash used in investing activities (24,123)
Cash flows from financing activities:    
Borrowings under short-term notes payable 600,169 132,088
Payments on short-term notes payable (346,138) (217,588)
Redemption of Series C Preferred stock (5,635,672)
Proceeds from issuance of common stock for stock option exercise 363,140
Proceeds from issuance of common stock for warrant exercise 2,261,336 5,182,402
Net proceeds from issuance of common stock 26,676,392
Net cash provided by financing activities 23,919,227 5,096,902
Net increase (decrease) in cash and cash equivalents 12,309,317 (8,224,381)
Cash and cash equivalents at beginning of period 17,639,575 18,267,994
Cash and cash equivalents at end of period 29,948,892 10,043,613
Supplemental disclosure of cash flow information:    
Interest paid 10,654 4,245
Non-cash investing and financing activities:    
Stock dividend on Series C preferred stock $ 1,117,531 $ 661,458