XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating activities      
Net loss $ (1,969,452) $ (6,420,909) $ (6,865,590)
Adjustments to reconcile net loss to net cash used in operating activities:      
Forgiveness of paycheck protection loan and accrued interest     (105,130)
Stock-based compensation expense 463,995 1,103,737 1,424,754
Non-cash lease expense   12,428  
Change in operating assets and liabilities:      
Accounts receivable, net   (379,777) (198,855)
Prepaid expenses, inventory and other assets   888,976 1,055,913
Accounts payable and other current liabilities   146,662 (835,632)
Accrued compensation   197,676 (205,442)
Accrued interest expense   373,973 374,236
Operating lease liabilities   (12,428)  
Milestone payable     (5,000,000)
Net cash used in operating activities   (4,089,662) (10,355,746)
Financing activities      
Proceeds from issuance of common stock     14,375,000
Payment of common stock offering costs (6,421)   (1,304,846)
Proceeds from issuance of common stock from ATM   7,443,969 319,528
Payment of common stock offering costs from ATM   (148,993) (6,421)
Proceeds from issuance of common stock from exercise of stock options     45,454
Net cash provided by financing activities   7,294,976 13,428,715
Net increase in cash and cash equivalents   3,205,314 3,072,969
Cash and cash equivalents at beginning of period   9,144,710 8,068,939
Cash and cash equivalents at end of period $ 11,141,908 12,350,024 11,141,908
Supplemental disclosure of non-cash investing and financing activities      
Operating lease right-of-use assets obtained in exchange for operating lease liabilities   $ 153,671  
Forgiveness of paycheck protection loan and accrued interest     $ 105,130