v3.20.4
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Acitivites    
Net loss $ (9,457,871) $ (3,877,211)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation 1,293,392 477,096
Common stock issued for services 0 150,000
Amortization of debt discount 0 18,082
Deferred financing costs 0 102,225
Depreciation 11,096 1,955
Loss on disposal of fixed assets 1,583 0
Changes in operating assets and liabilities    
Prepaid expenses (321,353) (619,622)
Accounts payable 702,664 108,570
Accounts payable and accrued expenses - related party (45,833) 45,039
Accrued expenses 498,304 40,394
Net cash used in operating activities (7,318,018) (3,553,472)
Cash Flows from Investing Activities:    
Purchase ofproperty and equipment (17,945) (20,120)
Net cash used in investing activities (17,945) (20,120)
Cash Flows from Financing Activities:    
Payment of deferred offering cost (45,000) 0
Payments on notes payable (43,081) (35,000)
Proceeds from sale of common stock and warrants 14,222,249 10,294,747
Net cash provided by financing activities 14,134,168 10,259,747
Net change in cash and cash equivalents 6,798,205 6,686,155
Cash and cash equivalents, at beginning of period 7,241,288 555,133
Cash and cash equivalents, at end of period 14,039,493 7,241,288
Supplemental disclosures of cash flow information:    
Cash paid for interest 1,708 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
Prepaid expenses financed with note payable 482,375 0
Deferred offering costs of fset against additional paid in capital 106,764 0
Conversion of SAFE agreements 0 763,249
Common stock and warrants issued for extinguishment of convertible notes payable and accrued interest $ 0 $ 342,493

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