Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows From Operating Activities    
Net loss $ (6,634,638) $ (8,391,499)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash lease expense for right-of-use assets 39,982 45,291
Non-cash milestone expense in connection with license agreement 189,000
Amortization of issuance costs 40,613
Amortization of intangible asset 394,248
Stock-based compensation 660,627 2,838,266
Warrants issued to purchase 3,160,130 shares of common stock in connection with a consulting agreement 1,310,875
Net changes in operating assets and liabilities:    
Prepaid expenses and other 662,984 272,050
Operating lease liability (38,233) (47,256)
Accounts payable (88,526) 429,199
Due (from) to related parties (51) (1,772)
Other receivables 70,274
Accrued expenses (91,559) 28,147
Net cash used in operating activities (4,178,539) (4,133,439)
Cash Flows From Financing Activities    
Net proceeds from common stock issued 6,352,077
Acquisition of treasury stock (300,000)
Net cash provided by (used in) financing activities 6,352,077 (300,000)
Net Increase (Decrease) in Cash 2,173,538 (4,433,439)
Cash and Cash Equivalents – Beginning of Period 6,503,595 16,497,581
Cash and Cash Equivalents – End of Period 8,677,133 12,064,142
Non-Cash Financing Activities    
Issuance of 123,609 shares of common stock in connection with the Purchase Agreement with Lincoln Park $ 450,000