Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (unaudited)

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Statements of Cash Flows (unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net loss $ 7,941,311 $ 5,349,621
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 709,435 1,416,691
Amortization of debt discount costs 0 14,126
Increase/(decrease) in cash resulting from changes in:    
Prepaid expenses and other current assets (82,933) (1,007,393)
Accounts payable (31,504) 665,587
Accrued and other current liabilities 337,677 371,127
Net cash used in operating activities: (7,008,636) (3,889,483)
Cash flows from financing activities:    
Proceeds from issuance of common stock and warrants, net of issuance costs 4,276,365 15,386,189
Proceeds from issuances of common stock upon exercises of pre-funded warrants 287 0
Redemption of Series 1c preferred stock 0 (1,000,000)
Payments on debt 0 (556,482)
Net proceeds from issuance of convertible subordinated promissory notes 0 1,562,717
Proceeds from issuance of Series 1d preferred units 0 570,000
Net cash provided by financing activities: 4,276,652 15,962,424
Net increase (decrease) in cash and cash equivalents (2,731,984) 12,072,941
Cash and cash equivalents at beginning of period 10,798,806 530,400
Cash and cash equivalents at end of period 8,066,822 12,603,341
Supplemental disclosures:    
Cash paid for interest 0 1,420
Cash paid for taxes 800 1,400
Non-cash financing activities:    
Conversion of common and preferred units and warrants to common and preferred stock and warrants 0 29,936,660
Conversion of convertible subordinated promissory notes to Series 1d preferred units 0 4,464,801
Deemed dividend upon amendment to the terms of the Series 1d convertible preferred stock 0 2,293,199
Conversion of convertible subordinated promissory notes and accrued interest to common shares at IPO 0 180,434
Conversion of preferred stock to common stock at IPO $ 0 $ 6,582