Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows From Operating Activities    
Net Loss $ (2,834,405) $ (2,726,381)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 301 139
Non-cash lease expense for right-of-use assets 22,940 21,372
Stock-based compensation 227,711 167,643
Net changes in operating assets and liabilities:    
Prepaid expenses and other 129,995 68,665
Operating lease liability (22,312) (21,083)
Accounts payable (328,320) 143,751
Due from related parties (27,774) (22,334)
Accrued expenses 102,016 319,344
Net cash used in operating activities (2,729,848) (2,048,884)
Cash Flows From Financing Activities    
Net proceeds from issuance of stock 4,438,570 6,282,430
Shares withheld to pay taxes on stock-based compensation (1,439) (9,924)
Settlement of stock award (8,561)
Payment of finance lease obligation (1,536) (895)
Net cash provided by financing activities 4,435,595 6,263,050
Net Decrease in Cash and Cash Equivalents 1,705,747 4,214,166
Cash and Cash Equivalents - Beginning of Period 1,191,325 4,706,197
Cash and Cash Equivalents - End of Period 2,897,072 8,920,363
Supplemental Cash Flow Information:    
Cash paid for interest (1,880)
Cash paid for income taxes
Non-Cash Financing Activities    
Issuance of 5,000 shares of common stock in connection with a licensing agreement which had previously been recorded as a due to licensor 189,000
New right-of-use asset 11,804
Financing lease liability (11,804)
Net