XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Operating activities            
Net loss $ (2,233,380) $ (2,173,665) $ (2,290,643) $ (2,605,495) $ (4,407,045) $ (4,896,138)
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 366,924   399,411   747,985 960,759
Change in operating assets and liabilities:            
Accounts receivable, net         (70,450) (175,100)
Prepaid expenses, inventory and other assets         545,455 703,867
Accounts payable and other current liabilities         (61,975) (805,318)
Accrued compensation         9,348 (394,756)
Accrued interest expense         247,945 248,208
Net cash used in operating activities         (2,988,737) (4,463,608)
Financing activities            
Proceeds from issuance of common stock         7,443,969 14,375,000
Payment of common stock offering costs (145,445) (3,548)   (1,304,846) (148,993) (1,304,846)
Proceeds from issuance of common stock from exercise of stock options           45,454
Net cash provided by financing activities         7,294,976 13,115,608
Net increase in cash and cash equivalents         4,306,239 8,652,000
Cash and cash equivalents at beginning of period   $ 9,144,710   $ 8,068,939 9,144,710 8,068,939
Cash and cash equivalents at end of period $ 13,450,949   $ 16,720,939   $ 13,450,949 16,720,939
Non-cash financing activities            
Forgiveness of paycheck protection loan and accrued interest           $ 105,130