Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:        
Net loss $ (4,167,653) $ (3,636,043) $ (5,679,385) $ (7,758,077)
Adjustments to reconcile net loss to net cash used in operating activities:        
Loss on sale of marketable securities 389 1,999 214 3,649
Change in fair value of marketable securities 983 (2,947) 2,695 145
Change in fair value of derivatives 1,490,200 315,200
Change in fair value of warrants (2,930,700) (2,810,000)
Stock based compensation        
Options issued to directors     559,224
Options issued to key employees     1,044,550 208,332
Options issued to non-employees     142,565 4,916
Restricted stock units to non-employees     15,998
Change in assets and liabilities        
Prepaid Expenses     (949,973) (265,060)
Trade and Other Payables     (516,769) 1,854,909
Operating Leases     162 943
Net cash used by operating activities     (7,891,517) 5,934,245
Cash flows from investing activities:        
Purchases of marketable securities     (13,199,409) (6,548)
Proceeds from sale of marketable securities     5,749,970 6,500,000
Net cash (used in)/provided by investing activities     (7,449,439) 6,493,452
Cash flows from financing activities        
Net proceeds from the issuance of preferred stock     14,685,689
Net cash provided by financing activities     14,685,689
Net (decrease)/increase in cash     (655,267) 559,207
Cash at beginning of period     749,090 555,567
Cash at end of period $ 93,823 $ 1,115,174 93,823 1,115,174
Supplemental cash flow information        
Interest    
Income Taxes    
Supplemental Schedule of Non-Cash Financing and Investing Activities        
Accrual of Series F Convertible Preferred Stock Dividend     172,387
Initial fair value of warrant liabilities pursuant to the issuance of Series F Convertible Preferred Stock and Warrants     10,623,000
Initial fair value of derivative liabilities pursuant to the issuance of Series F Convertible Preferred Stock and Warrants     $ 3,149,800