v3.20.2
Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Acitivites    
Net loss $ (6,452,966) $ (1,349,863)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 930,443 286,778
Common stock issued for services 0 105,430
Amortization of debt discount 0 18,082
Deferred financing cost 0 102,225
Depreciation 7,952 865
Changes in operating assets and liabilities    
Prepaid expenses (556,457) (423,355)
Accounts payable 6,515 150,270
Accounts payable and accrued expenses - related party (45,833) 9,206
Accrued expenses 239,101 22,470
Net cash used in operating activities (5,871,245) (1,077,892)
Cash Flows from Investing Activities:    
Purchase of furniture and equipment (17,945) (8,377)
Net cash used in investing activities (17,945) (8,377)
Cash Flows from Financing Activities:    
Payment of deferred offering cost (45,000) (41,525)
Payments on notes payable 0 (35,000)
Proceeds from sale of common stock 0 1,507,169
Net cash provided by (used in) financing activities (45,000) 1,430,644
Net change in cash, cash equivalents and restricted cash (5,934,190) 344,375
Cash, cash equivalents and restricted cash, at beginning of period 7,241,288 555,133
Cash, cash equivalents and restricted cash, at end of period 1,307,098 899,508
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 3,993
Cash paid for income taxes 0 0
Supplemental disclosure of non-cash investing and financing activities:    
Common stock issued for deferred offering costs $ 395,902 $ 0

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