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, 2023
Sep. 30, 2022
Cash Flows From Operating Activities    
Net loss $ (8,716,589) $ (14,411,909)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 82
Lease expense for right-of-use assets 60,552 66,126
Milestone expense in connection with license agreement 189,000
Amortization of issuance costs 78,113
Amortization of intangible asset 591,372
Stock-based compensation 803,521 6,052,081
Warrants 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 836,344 299,074
Operating lease liability (57,929) (69,420)
Accounts payable 18,751 92,161
Due (from) to related parties 5,740 (1,772)
Other receivables 70,274
Accrued expenses (200,825) (62,858)
Net cash used in operating activities (5,939,478) (7,107,758)
Cash Flows From Investing Activities    
Purchase of property and equipment (2,776)
Net cash used in investing activities (2,776)
Cash Flows From Financing Activities    
Net proceeds from common stock issued 6,352,077 (35,247)
Settlement of stock award (52,746)
Acquisition of treasury stock (300,000)
Net cash provided by (used in) financing activities 6,299,331 (335,247)
Net Increase (Decrease) in Cash 357,077 (7,443,005)
Cash and Cash Equivalents – Beginning of Period 6,503,595 16,497,581
Cash and Cash Equivalents – End of Period 6,860,672 9,054,574
Non-Cash Financing Activities    
Issuance of 123,609 shares of common stock in connection with the Purchase Agreement with Lincoln Park 450,000
Right-of-use asset obtained in exchange for operating lease liability (238,924)
Operating lease liability 238,924
Net