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, 2024
Mar. 31, 2023
Cash Flows From Operating Activities    
Net loss $ (2,726,381) $ (4,022,073)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 139
Non-cash lease expense for right-of-use assets 21,372 19,800
Stock-based compensation 167,643 341,504
Recording of warrant to be issued to purchase 158,007 shares of common stock in connection with a consulting agreement 1,310,875
Net changes in operating assets and liabilities:    
Prepaid expenses and other 68,665 405,615
Operating lease liability (21,083) (18,926)
Accounts payable 143,751 (10,839)
Due (from) related parties (22,334) (51)
Accrued expenses 319,344 (139,975)
Net cash used in operating activities (2,048,884) (2,114,070)
Cash Flows From Financing Activities    
Net proceeds from issuance of stock 6,282,430 6,352,077
Shares withheld to pay taxes on stock-based compensation (9,924)
Settlement of stock award (8,561)
Payment of finance lease obligation (895)
Net cash provided by financing activities 6,263,050 6,352,077
Net Increase in Cash 4,214,166 4,238,007
Cash and Cash Equivalents – Beginning of Period 4,706,197 6,503,595
Cash and Cash Equivalents – End of Period 8,920,363 10,741,602
Non-Cash Financing Activities    
Issuance of 5,000 shares of common stock in connection with a licensing agreement which had previously been recorded as a due to licensor 189,000
Right-of-use asset 11,804
Financing lease liability (11,804)
Net