General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net Loss $ (8,745,293) $ (8,755,881)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock issued for services rendered 0 32,775
Gain on forgiveness of debt and accrued interest 0 (122,520)
Employee and director equity-based compensation expense 2,692,462 2,970,027
Non-cash lease expense 79,637 22,138
Amortization of deferred R&D obligations - participation agreements (774,025) (555,745)
Changes in assets and liabilities:    
Prepaid expenses (44,338) (28,125)
Security deposits (29,058) 0
Accounts payable (163,663) (905,295)
Advanced payments for R&D obligations - participation agreements   85,304
Lease liabilities (51,695) (29,171)
Accrued liabilities (66,639) 483,160
Net cash (used) in operating activities (7,102,612) (6,803,333)
Cash flows from investing activities:    
Net cash (used) in investing activities 0 0
Cash Flow from Financing Activities:    
Proceeds of loans payable, other 628,600 190,500
Payment of loans payable, other (628,600) (190,500)
Proceeds from sale of common stock warrants - participation agreements 0 55,697
Proceeds from public sale of common stock 0 15,644,507
Expenses related to public offering 0 (1,697,828)
Proceeds from sale of common stock, related party 0 50,000
Proceeds from sales of common stock 0 1,514,970
Net cash provided by financing activities 0 15,567,346
Increase (decrease) in cash (7,102,612) 8,764,013
Cash at beginning of period 8,901,875 137,862
Cash at end of period 1,799,263 8,901,875
Cash paid during the period for:    
Interest 10,920 3,084
Income taxes $ 0 $ 0