Annual report pursuant to Section 13 and 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net Loss $ (7,777,184) $ (8,745,293)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization on debt discount 439,594 0
Employee and director equity-based compensation expense 867,359 2,692,462
Non-cash lease expense 91,002 79,637
Amortization of deferred R&D obligations - participation agreements (701,332) (774,025)
Changes in assets and liabilities:    
Prepaid expenses (44,846) (44,338)
Security deposits 0 (29,058)
Accounts payable 502,420 (163,663)
Accounts payable - related party 172,670 0
Accounts receivable (3,735) 0
Lease liabilities (98,835) (51,695)
Accrued liabilities 752,994 (66,639)
Net cash (used) in operating activities (5,799,893) (7,102,612)
Cash flows from investing activities:    
Net cash (used) in investing activities 0 0
Cash Flow from Financing Activities:    
Proceeds of loans payable, other 605,600 628,600
Payment of loans payable, other (605,600) (628,600)
Proceeds of loans payable, related party 1,150,000 0
Payment of loans payable, related party (1,150,000) 0
Proceeds from private placement of registered securities, net 3,634,963 0
Exercise of common stock warrants 47 0
Proceeds from direct sale of common stock, related party 485,000 0
Proceeds from direct sales of common stock 155,000 0
Net cash provided by financing activities 4,275,010 0
Decrease in cash (1,524,883) (7,102,612)
Cash at beginning of period 1,799,263 8,901,875
Cash at end of period 274,380 1,799,263
Cash paid during the period for:    
Interest 72,178 10,920
Income taxes $ 0 $ 0