Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (7,555,617) $ (7,218,795)
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 30,525 458,366
Stock-based compensation recapture expense (86,617)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (694,108) 49,951
Operating lease right of use assets 9,811
Accounts payable and accrued expenses 1,123,405 131,449
Change in operating lease liabilities (9,811)
Net cash used in operating activities (6,410,975) (6,579,029)
Cash flows from financing activities:    
Borrowings on short-term notes payable 2,623,399
Payments on short-term notes payable (3,328,528) (430,283)
Net proceeds from issuance of preferred stock and warrants 15,019,700
Net proceeds from issuance of common stock 2,635,330 6,669,860
Net cash provided by financing activities 16,949,901 6,239,577
Net decrease in cash and cash equivalents 10,538,926 (339,452)
Cash and cash equivalents at beginning of period 864,840 3,483,501
Cash and cash equivalents at end of period 11,403,766 3,144,049
Supplemental disclosure of cash flow information:    
Interest paid $ 14,899 $ 18,859