Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (7,218,795) $ (7,908,308)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 27,391
Gain on sale of property and equipment (22,443)
Stock-based compensation expense 458,366 546,519
Changes in operating assets and liabilities:    
Other receivables (35,104)
Prepaid expenses and other current assets 49,951 1,443,563
Operating lease right of use assets 9,811 323,103
Deposits 9,340
Accounts payable and accrued expenses 131,449 (572,396)
Change in operating lease liabilities (9,811)
Net cash used in operating activities (6,579,029) (6,188,335)
Cash flows from investing activities:    
Proceeds from sale of property and equipment 63,715
Net cash provided by (used in) investing activities 63,715
Cash flows from financing activities:    
Payments on short-term notes payable (430,283) (385,329)
Net proceeds from issuance of common stock 6,669,860 849,808
Net cash provided by (used in) financing activities 6,239,577 464,479
Net decrease in cash and cash equivalents (339,452) (5,660,141)
Cash and cash equivalents at beginning of period 3,483,501 11,426,785
Cash and cash equivalents at end of period 3,144,049 5,766,644
Supplemental disclosure of cash flow information:    
Interest paid 18,859 3,347
Non-cash investing and financing activities:    
Borrowings under short term notes payable for prepaid expense $ 636,972 $ 611,109