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, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (7,427,077) $ (4,441,902)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 900,289 565,433
Depreciation 6,208 4,789
Changes in operating assets and liabilities:    
Related party receivable (132,648) 0
Prepaid expenses (1,839,800) (676,098)
Accounts payable (53,838) (93,153)
Accounts payable and accrued expenses - related party 0 (45,833)
Accrued expenses 240,874 89,192
Net cash used in operating activities (8,305,992) (4,597,572)
Cash Flows from Investing Activities:    
Purchase of property and equipment (3,672) (17,945)
Net cash used in investing activities (3,672) (17,945)
Cash Flows from Financing Activities:    
Payments on notes payable (261,711) 0
Proceeds from exercise of warrants 332,750 0
Proceeds from sale of common stock, net 1,084,704 0
Net cash provided by financing activities 1,155,743 0
Net change in cash and cash equivalents (7,153,921) (4,615,517)
Cash and cash equivalents, at beginning of period 14,039,493 7,241,288
Cash and cash equivalents, at end of period 6,885,572 2,625,771
Supplemental disclosures of cash flow information:    
Cash paid for interest 7,207 0
Cash paid for income taxes 0 0
Supplemental disclosure of non-cash investing and financing activities:    
Cashless exercise of warrants 1,296 0
Common stock issued for subscription receivable $ 3,569,117 $ 0