Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (15,566,003)	$ (9,914,141)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	62,622	30,110
Stock issued as compensation to non-employee directors		24,320
Stock-based compensation expense	552,997	996,038
Stock issued in exchange for services	12,001	12,000
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	1,427,481	(453,456)
Accounts payable and accrued expenses	498,059	225,312
Net cash used in operating activities	(13,012,843)	(9,079,817)
Cash flows from investing activities:
Purchase of property and equipment	(25,214)	(124,727)
Net cash used by investing activities	(25,214)	(124,727)
Cash flows from financing activities:
Payments on short-term notes payable	(252,926)	(200,755)
Net proceeds from issuance of common stock, convertible preferred stock, and warrants	11,350,676	12,431,629
Proceeds from issuance of common stock for warrant exercise		9,505,501
Net proceeds from issuance of common stock and warrants		1,510,327
Net cash provided by financing activities	11,097,750	23,246,702
Net (decrease) increase in cash and cash equivalents	(1,940,307)	14,042,158
Cash and cash equivalents at beginning of period	20,208,301	6,166,143
Cash and cash equivalents at end of period	18,267,994	20,208,301
Supplemental disclosure of cash flow information:
Interest paid	7,300	5,786
Non-cash investing and financing activities:
Borrowings under short term notes payable for prepaid expense	272,577	244,490
Par value of restricted shares issued		16
Stock dividend on Series C preferred stock	413,214	58,670
Deemed dividend on Series D preferred stock		1,412,041
Par value of common stock issued in exchange for services	25	25
Series A Preferred Stock [Member]
Non-cash investing and financing activities:
Par value of common stock issued in connection with stock conversion		259
Conversion of preferred stock into common stock		268,096
Series D Preferred Stock [Member]
Non-cash investing and financing activities:
Par value of common stock issued in connection with stock conversion		9,364
Conversion of preferred stock into common stock		$ 4,464,107