Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net loss $ (8,953,181) $ (6,717,730)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 579,983 623,526
Depreciation 2,282 6,581
Loss of disposal of fixed assets 0 1,467
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 823,073 259,297
Accounts payable (111,262) (664,498)
Accrued expenses (568,254) 51,624
Net cash used in operating activities (8,227,359) (6,439,733)
Cash Flows from Investing Activities:    
Purchase of property and equipment 0 (2,909)
Net cash used in investing activities 0 (2,909)
Cash Flows from Financing Activities:    
Payments on notes payable (243,572) (231,397)
Proceeds from exercise of warrants 725,668 2,616
Proceeds from sale of common stock 1,969,107 10,625,786
Net cash provided by financing activities 2,451,203 10,397,005
Net change in cash and cash equivalents (5,776,156) 3,954,363
Cash and cash equivalents, at beginning of period 10,055,407 5,004,517
Cash and cash equivalents, at end of period 4,279,251 8,958,880
Supplemental disclosures of cash flow information:    
Cash paid for interest 9,086 4,813
Cash paid for income taxes $ 0 $ 0