Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (2,201,243) $ (2,216,993)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount and closing costs 192,859
Stock-based compensation expense 17,386 17,706
Stock-based compensation recapture expense (86,470)
Common stock issued for services 5,000
Changes in operating assets and liabilities:    
Income receivables 53,082
Prepaid expenses and other current assets 232,398 159,637
Accounts payable and accrued expenses (307,267) (178,829)
Net cash used in operating activities (2,200,644) (2,112,090)
Cash flows from investing activities:    
Proceed from sale of short-term investments 4,000,000
Net cash provided by investing activities 4,000,000
Cash flows from financing activities:    
Borrowings on short-term notes payable 2,228,563
Payments on short-term notes payable (171,214) (195,565)
Net proceeds from issuance of common stock 79,210 2,635,330
Net cash (used) provided by financing activities (92,004) 4,668,328
Net increase in cash and cash equivalents 1,707,352 2,556,238
Cash and cash equivalents at beginning of period 4,399,726 864,840
Cash and cash equivalents at end of period 6,107,078 3,421,078
Supplemental disclosure of cash flow information:    
Interest paid $ 3,727 $ 6,268