Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.24.1
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net loss $ (7,794,690) $ (9,610,913)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 522,082 930,325
Increase (decrease) in cash resulting from changes in:    
Prepaid expenses and other current assets 162,695 121,940
Accounts payable 369,326 (18,543)
Accrued and other current liabilities 331,656 (256,973)
Total adjustments to reconcile net loss to cash used in operations 1,385,759 776,749
Net cash used in operating activities (6,408,931) (8,834,164)
Cash flows from financing activities:    
Proceeds from issuance of Common Stock and warrants, net of issuance costs 7,605,625 4,276,365
Proceeds from exercise of pre-funded warrants 187 287
Payment for fractional shares in reverse stock split (40) 0
Net cash provided by financing activities 7,605,772 4,276,652
Net increase (decrease) in cash and cash equivalents 1,196,841 (4,557,512)
Cash and cash equivalents at beginning of period 6,241,294 10,798,806
Cash and cash equivalents at end of period 7,438,135 6,241,294
Supplemental disclosure:    
Cash paid for taxes 950 950
Non-cash financing activities:    
Incremental fair value of March 2023 warrant modification 144,765 0
Incremental fair value of November 2023 warrant inducement $ 2,995,343 $ 0