v3.20.2
Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Acitivites    
Net loss $ (4,441,902) $ (643,208)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 565,433 113,861
Common stock issued for services 0 49,180
Amortization of debt discount 0 18,082
Write off of deferred issuance cost 0 102,225
Depreciation 4,789 167
Changes in operating assets and liabilities    
Prepaid expenses (676,098) (388,368)
Accounts payable (93,153) 36,891
Accounts payable and accrued expenses - related party (45,833) (794)
Accrued expenses 89,192 12,391
Net cash used in operating activities (4,597,572) (699,573)
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:    
Payments of deferred issuance cost 0 (38,025)
Payments on notes payable 0 (35,000)
Proceeds from sale of common stock 0 1,407,169
Net cash provided by financing activities 0 1,334,144
Net change in cash, cash equivalents and restricted cash (4,615,517) 626,194
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 2,625,771 1,181,327
Supplemental disclosures of cash flow information:    
Cash paid for interest 0 3,993
Cash paid for income taxes $ 0 $ 0

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