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, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net loss $ (6,350,291) $ (7,427,077)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 623,526 900,289
Depreciation 6,581 6,208
Loss on disposal of fixed assets 1,467 0
Changes in operating assets and liabilities:    
Related party receivable 0 (132,648)
Prepaid expenses 259,297 (1,839,800)
Accounts payable (1,031,937) (53,838)
Accrued expenses 51,624 240,874
Net cash used in operating activities (6,439,733) (8,305,992)
Cash Flows from Investing Activities:    
Purchase of property and equipment (2,909) (3,672)
Net cash used in investing activities (2,909) (3,672)
Cash Flows from Financing Activities:    
Payments on notes payable (231,397) (261,711)
Proceeds from exercise of warrants 2,616 332,750
Proceeds from sale of common stock 10,625,786 1,084,704
Net cash provided by financing activities 10,397,005 1,155,743
Net change in cash and cash equivalents 3,954,363 (7,153,921)
Cash and cash equivalents, at beginning of period 5,004,517 14,039,493
Cash and cash equivalents, at end of period 8,958,880 6,885,572
Supplemental disclosures of cash flow information:    
Cash paid for interest 4,813 7,207
Cash paid for income taxes 0 0
Supplemental disclosure of non-cash investing and financing activities:    
Cashless exercise of warrants 0 1,296
Common stock issued for subscription receivable $ 0 $ 3,569,117