v3.21.1
Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Acitivites    
Net loss $ (3,613,404) $ (1,968,131)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 430,679 242,209
Depreciation 2,998 1,917
Changes in operating assets and liabilities    
Related party receivable (132,648) 0
Prepaid expenses (122,168) (156,124)
Accounts payable 111,354 (102,419)
Accounts payable and accrued expenses - related party 0 4,167
Accrued expenses 15,136 123,293
Net cash used in operating activities (3,308,053) (1,855,088)
Cash Flows from Investing Activities:    
Purchase of property and equipment (3,672) (6,410)
Net cash used in investing activities (3,672) (6,410)
Cash Flows from Financing Activities:    
Payments on notes payable (130,161) 0
Proceeds from exercise of warrants 332,750 0
Proceeds from sale of common stock 144,843 0
Net cash provided by financing activities 347,432 0
Net change in cash, cash equivalents (2,964,293) (1,861,498)
Cash, cash equivalents, at beginning of period 14,039,493 7,241,288
Cash, cash equivalents, at end of period 11,075,200 5,379,790
Supplemental disclosures of cash flow information:    
Cash paid for interest 4,208 0
Cash paid for income taxes 0 0
Supplemental disclosure of non-cash investing and financing activities:    
Cashless exercise of warrants $ 1,296 $ 0

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