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 ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net loss $ (4,022,073) $ (3,227,131)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash lease expense for right-of-use assets 19,800 22,559
Amortization of issuance costs 3,113
Amortization of intangible asset 197,124
Stock-based compensation 341,504 828,897
Recording of warrant to be issued to purchase 3,160,130 shares of common stock in connection with a consulting agreement 1,310,875
Net changes in operating assets and liabilities:    
Prepaid expenses and other 405,615 216,717
Operating lease liability (18,926) (23,195)
Accounts payable (10,839) 97,187
Due (from) to related parties (51) (1,772)
Other receivables 70,274
Accrued expenses (139,975) 13,301
Net cash used in operating activities (2,114,070) (1,802,926)
Cash Flows From Financing Activities    
Net proceeds from common stock issued 6,352,077
Acquisition of treasury stock (300,000)
Net cash provided by (used in) financing activities 6,352,077 (300,000)
Net Increase (Decrease) in Cash 4,238,007 (2,102,926)
Cash and Cash Equivalents – Beginning of Period 6,503,595 16,497,581
Cash and Cash Equivalents – End of Period 10,741,602 14,394,655
Non-Cash Financing Activities    
Issuance of 123,609 shares of common stock in connection with the Purchase Agreement with Lincoln Park $ 450,000