Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (4,489,028) $ (4,755,923)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and closing costs 771,437
Stock-based compensation expense 24,485 127,564
Stock-based compensation recapture expense (86,617)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 441,707 111,939
Operating lease right of use assets 9,811
Accounts payable and accrued expenses (88,444) (92,358)
Change in operating lease liabilities (9,811)
Net cash used in operating activities (3,426,460) (4,608,778)
Cash flows from financing activities:    
Borrowings on short-term notes payable 2,228,563
Payments on short-term notes payable (328,528) (312,703)
Net proceeds from issuance of common stock 2,635,330 2,786,601
Net cash provided by financing activities 4,535,365 2,473,898
Net decrease in cash and cash equivalents 1,108,905 (2,134,880)
Cash and cash equivalents at beginning of period 864,840 3,483,501
Cash and cash equivalents at end of period 1,973,745 1,348,621
Supplemental disclosure of cash flow information:    
Interest paid $ 7,860 $ 8,888