Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.2.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows From Operating Activities    
Net loss $ (5,736,707) $ (6,634,638)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 278
Non-cash lease expense for right-of-use assets 42,670 39,982
Stock-based compensation 320,275 660,627
Warrant 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 (980,554) 662,984
Operating lease liability (41,228) (38,233)
Accounts payable 641,469 (88,526)
Due to related parties (39) (51)
Accrued expenses 359,123 (91,559)
Net cash used in operating activities (5,394,713) (4,178,539)
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 (11,932)
Settlement of stock award (8,561)
Payment of finance lease obligation (2,301)
Net cash provided by financing activities 6,259,636 6,352,077
Net Increase in Cash 864,923 2,173,538
Cash and Cash Equivalents – Beginning of Period 4,706,197 6,503,595
Cash and Cash Equivalents – End of Period 5,571,120 8,677,133
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