Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net loss $ (2,844,837) $ (4,590,993)  
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 11,303 8,468  
Gain on sale of property and equipment (10,964)  
Stock-based compensation expense 79,966 90,247  
Changes in operating assets and liabilities:      
Other receivables 6,987  
Prepaid expenses and other current assets 300,085 (1,287,175)  
Operating Lease Right of Use Assets 48,716 45,921 $ 45,921
Accounts payable and accrued expenses 346,309 147,884  
Change in Operating Lease Liabilities (50,237) (47,327) 47,327
Net cash used in operating activities (2,108,695) (5,636,952)  
Cash flows from investing activities:      
Proceeds from sale of property and equipment 12,000  
Purchase of property and equipment (87,047)  
Net cash used in investing activities (75,047)  
Cash flows from financing activities:      
Payments on short-term notes payable (159,750) (181,241)  
Net cash provided by (used in) financing activities (159,750) (181,241)  
Net increase (decrease) in cash and cash equivalents (2,268,445) (5,893,240)  
Cash and cash equivalents at beginning of period 11,426,785 27,265,703 27,265,703
Cash and cash equivalents at end of period 9,158,340 21,372,463 $ 11,426,785
Supplemental disclosure of cash flow information:      
Interest paid $ 3,347 $ 3,246