v3.22.1
Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net loss $ (2,784,339) $ (3,613,404)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 336,685 430,679
Depreciation 3,375 2,998
Changes in operating assets and liabilities:    
Related party receivable 0 (132,648)
Prepaid expenses 318,124 (122,168)
Accounts payable (1,033,107) 111,354
Accrued expenses 82,063 15,136
Net cash used in operating activities (3,077,199) (3,308,053)
Cash Flows from Investing Activities:    
Purchase of property and equipment 0 (3,672)
Net cash used in investing activities 0 (3,672)
Cash Flows from Financing Activities:    
Payments on notes payable (115,222) (130,161)
Proceeds from exercise of warrants 2,616 332,750
Proceeds from sale of common stock 10,625,786 144,843
Net cash provided by financing activities 10,513,180 347,432
Net change in cash and cash equivalents 7,435,981 (2,964,293)
Cash and cash equivalents, at beginning of period 5,004,517 14,039,493
Cash and cash equivalents, at end of period 12,440,498 11,075,200
Supplemental disclosures of cash flow information:    
Cash paid for interest 2,883 4,208
Cash paid for income taxes 0 0
Supplemental disclosure of non-cash investing and financing activities:    
Cashless exercise of warrants $ 0 $ 1,296

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