Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (1,636,391) $ (11,451,818)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on sale of marketable securities 714 4,849
Change in fair value of marketable securities 371 (1,754)
Change in fair value of derivatives (2,251,700)
Change in fair value of warrants (8,166,000)
Stock based compensation    
Options issued to directors 769,657
Options issued to key employees 1,429,693 293,700
Options issued to non-employees 142,565 55,168
Restricted stock units to non-employees 78,210
Warrants issued for services 154,585
Change in assets and liabilities    
Prepaid Expenses (697,691) 113,217
Trade and Other Payables (639,381) 730,683
Operating Leases 168 1,496
Net cash used by operating activities (11,047,995) (10,021,664)
Cash flows from investing activities:    
Purchases of marketable securities (13,338,466) (4,774,405)
Proceeds from sale of marketable securities 9,250,000 9,000,000
Net cash (used in)/provided by investing activities (4,088,466) 4,225,595
Cash flows from financing activities    
Net proceeds from the issuance of preferred stock 14,685,689
Net proceeds from issuance of common stock 5,550,028
Net cash provided by financing activities 14,685,689 5,550,028
Net decrease in cash (450,772) (246,041)
Cash and cash equivalents at beginning of period 749,090 555,967
Cash and cash equivalents at end of period 298,318 309,926
Supplemental cash flow information    
Interest
Income Taxes
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Accrual of Series F Convertible Preferred Stock Dividend 204,194
Operating lease right-of-use asset obtained in exchange for lease obligation 53,196
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