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 ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (4,729,950) $ (4,489,028)
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 34,969 24,485
Stock-based compensation recapture expense (86,617)
Common stock issued for services 5,000
Changes in operating assets and liabilities:    
Interest receivable 53,082
Prepaid expenses and other current assets (13,361) 441,707
Accounts payable and accrued expenses 262,856 (88,444)
Net cash used in operating activities (4,387,404) (3,426,460)
Cash flows from investing activities:    
Proceeds 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 (227,348) (328,528)
Net proceeds from issuance of common stock 79,210 2,635,330
Net cash (used) provided by financing activities (148,138) 4,535,365
Net changes in cash and cash equivalents (535,542) 1,108,905
Cash and cash equivalents at beginning of period 4,399,726 864,840
Cash and cash equivalents at end of period 3,864,184 1,973,745
Supplemental disclosure of cash flow information:    
Interest paid $ 4,141 $ 7,860