Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ (11,451,818) $ (26,649,321)
Adjustments to reconcile net loss to net cash used in operating activities:    
Accrued interest/dividends 4,496
Amortization of debt discount 608,460
(Gain)/Loss on sale of marketable securities 4,849 (39,797)
Unrealized (gain)/loss on marketable securities (1,754) 41,745
Loss on currency conversions 758
Gain on forgiveness of debt (180,257)
Stock based compensation    
Options modification expense 15,036,051
Options issued to key employees 293,700
Options issued to non-employees 55,168 90,002
Warrants issued for services 78,210
Restricted stock units to non-employees 154,585
Change in assets and liabilities    
Prepaid Expenses 113,217 (382,544)
Trade and Other Payables 730,683 (3,234,057)
Operating Leases 1,496 456
Net cash used by operating activities (10,021,664) (14,704,008)
Cash flows from investing activities:    
Purchases of marketable securities (4,774,405) (11,851)
Proceeds from sale of marketable securities 9,000,000 15,483,176
Net cash received in business combination 1,380,852
Net cash provided by investing activities 4,225,595 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
Net proceeds from note payable 1,826,137
Net proceeds from issuance of common stock 5,550,028
Net proceeds from the exercise of warrants 194,868
Net cash provided (used) by financing activities 5,550,028 (921,439)
Net increase/(decrease) in cash (246,041) 1,226,730
Cash at beginning of period 555,967 148,284
Cash at end of period 309,926 1,375,014
Supplemental cash flow information    
Interest   271,800
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Operating lease right-of-use asset obtained in exchange for lease obligation 53,196
Investment in Oravax, Inc. included in trade and other payables. $ 1,500,000