Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities    
Net loss $ (9,121,410) $ (8,716,589)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 481 82
Non-cash lease expense for right-of-use assets 64,700 60,552
Stock-based compensation 474,466 803,521
Warrants 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 (1,020,375) 836,344
Operating lease liability (61,776) (57,929)
Accounts payable 400,093 18,751
Due (from) to related parties (39) 5,740
Accrued expenses 266,539 (200,825)
Net cash used in operating activities (8,997,321) (5,939,478)
Cash Flows From Investing Activities    
Purchase of property and equipment (3,244) (2,776)
Net cash used in investing activities (3,244) (2,776)
Cash Flows From Financing Activities    
Net proceeds from common stock issued 7,213,721 6,352,077
Shares withheld to pay taxes on stock-based compensation (15,590)
Settlement of stock award (8,561) (52,746)
Payment of finance lease obligation (3,738)
Net cash provided by (used in) financing activities 7,185,832 6,299,331
Net Increase (Decrease) in Cash (1,814,733) 357,077
Cash and Cash Equivalents – Beginning of Period 4,706,197 6,503,595
Cash and Cash Equivalents – End of Period 2,891,464 6,860,672
Non-Cash Financing Activities    
Issuance of common stock in satisfaction of a due to licensor in connection with a licensing agreement 189,000
Right-of-use asset obtained in exchange for financing lease liability 11,804
Financing lease liability (11,804)
Net