Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net loss $ (6,035,394) $ (5,219,945)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 8,468 12,725
Gain on sale of property and equipment (10,964)
Stock-based compensation expense 90,247 1,123,761
Changes in operating assets and liabilities:    
Other receivables 6,987
Prepaid expenses and other current assets 157,226 120,311
Accounts payable and accrued expenses 146,478 (364,281)
Net cash used in operating activities (5,636,952) (4,327,429)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 12,000
Purchase of property and equipment (87,047)
Net cash used in investing activities (75,047)
Cash flows from financing activities:    
Payments on short-term notes payable (181,241) (113,346)
Redemption of Series C Preferred stock (5,635,672)
Proceeds from issuance of common stock for warrant exercise 2,261,336
Net proceeds from issuance of common stock 26,676,392
Net cash provided by (used in) financing activities (181,241) 23,188,710
Net increase (decrease) in cash and cash equivalents (5,893,240) 18,861,281
Cash and cash equivalents at beginning of period 27,265,703 17,639,575
Cash and cash equivalents at end of period 21,372,463 36,500,856
Supplemental disclosure of cash flow information:    
Interest paid 3,246 2,568
Non-cash investing and financing activities:    
Stock dividend on Series C Preferred stock $ 1,117,531