v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (26,649,321) $ (5,318,704)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accrued interest/dividends 4,496 88,248
Amortization of debt discount 608,460 1,536,277
Amortization of intangible assets 13,750
Gain on sale of marketable securities (39,797)
Unrealized loss on marketable securities 41,745
Loss on currency conversions 758
Gain on forgiveness of debt (180,258)
Stock based compensation    
Options modification expense 15,036,051
To key employees - options 287,700
Shares issued to non-employees for services 90,002
Change in assets and liabilities    
Prepaid Expenses (382,543) 4,721
Trade and Other Payables (3,234,057) (26,142)
Operating Leases 456 (1,214)
Net cash used by operating activities (14,704,008) (3,415,364)
Cash flows from investing activities:    
Purchases of marketable securities (11,851)
Proceeds from sale of marketable securities 15,483,176
Net cash received in business combination 1,380,852
Net cash provided by investing activities 16,852,177
Cash flows from financing activities    
Consumed by the payoff of the line of credit – related party (3,062,444)
Net proceeds from line of credit - related party 120,000 1,277,249
Net proceeds from note payable 1,826,137
Net proceeds from the Payroll Protection Program 70,600
Net proceeds from the exercise of warrants 194,868
Net proceeds from issuance of common stock 1,980,000
Net cash (used in)/provided by financing activities (921,439) 3,327,849
Net increase (decrease) in cash 1,226,730 (87,515)
Cash at beginning of period 148,284 134,499
Cash at end of period 1,375,014 46,984
Supplemental cash flow information    
Interest 271,800
Income Taxes
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Operating lease right-of-use asset obtained in exchange for lease obligation 527,195
Stock options issued in support of the line of credit 1,156,395
Investment in Oravax, Inc. $ 1,500,000

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