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Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (5,172,992) $ (5,255,473)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 417,188 419,435
Amortization 32,023 80,099
Amortization of discount on investments 0 (1,189)
Amortization of right-of-use assets 284,519 320,184
Share-based compensation expense 163,924 239,075
Loan and accrued interest forgiveness on note payable (821,515) 0
Loss on disposal of fixed asset 2,850 0
Changes in operating assets and liabilities:    
Accounts receivable (17,669) (37,105)
Inventory (18,958) 15,549
Other assets 498,878 205,839
Accounts payable (237,443) 4,426
Accrued expenses and other (510,730) 634,621
Lease liabilites (312,893) (337,074)
Other liabilities 9,935 49,606
Net cash used in operating activities (5,682,883) (3,662,007)
Cash flows from investing activities:    
Maturities of short-term investments 0 1,000,000
Purchases of property and equipment (188,245) (8,352)
Payments for patents and other intangible assets 0 (42,995)
Net cash (used in) provided by investing activities (188,245) 948,653
Cash flows from financing activities:    
Proceeds from issuance of common stock 31,725,645 55,550
Payments of offering costs (1,578,643) 0
Proceeds from note payable and advance 0 822,500
Repayment of note payable (302,343) 0
Payments under lease obligations (15,448) (13,977)
Net cash provided by financing activities 29,829,211 864,073
Net change in cash and cash equivalents 23,958,083 (1,849,281)
Cash and cash equivalents:    
Beginning of the period 3,322,226 6,415,274
End of the period 27,280,309 4,565,993
Cash paid for:    
Interest 11,155 5,487
Income taxes 800 2,000
Non-cash investing and financing activities:    
Prepaid insurance financed with promissory notes 320,866 0
Conversion of convertible preferred stock to common stock $ 55,360,897 $ 0