Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net loss $ (9,842,487) $ (10,567,918)
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 642,364 516,049
Stock-based compensation recapture expense (86,617)
Common stock for services rendered 126,140
Changes in operating assets and liabilities:    
Other receivables (53,082)
Prepaid expenses and other current assets (1,007,286) 1,574,287
Operating lease right of use assets 9,811
Accounts payable and accrued expenses 203,144 (119,800)
Change in operating lease liabilities (9,811)
Net cash used in operating activities (9,246,387) (8,597,382)
Cash flows from financing activities:    
Borrowings on short-term notes payable 2,455,911
Payments on short-term notes payable (3,328,528) (693,109)
Net proceeds from issuance of preferred stock and warrants 15,019,700
Net proceeds from issuance of common stock 2,634,190 6,671,830
Net cash provided by financing activities 16,781,273 5,978,721
Net increase (decrease) in cash and cash equivalents 7,534,886 (2,618,661)
Cash and cash equivalents at beginning of period 864,840 3,483,501
Cash and cash equivalents at end of year 8,399,726 864,840
Supplemental disclosure of cash flow information:    
Interest paid $ 22,353 $ 29,828