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Statement of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (12,862,468) $ (5,802,201)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 543,598 572,868
Stock-based compensation 360,975 21,875
Gain on extinguishment of debt (567,311) 0
Unrealized gain (loss) on investments, net 65,832 0
Accretion of issuance costs 28,256 23,043
Changes in operating assets and liabilities:    
Accounts receivable 2,367,000 (2,500,000)
Prepaid expenses and other assets (2,799,415) (2,118,264)
Accounts payable and other liabilities 1,887,816 (628,647)
Net cash used in operating activities (10,975,717) (10,431,326)
Cash flows from investing activities:    
Purchases of property and equipment (47,263) (186,682)
Purchases of short-term investments (24,987,277) 0
Purchases of long-term investments (9,984,375) 0
Net cash used in investing activities (35,018,915) (186,682)
Cash flows from financing activities:    
Proceeds from PPP loan 0 563,590
Proceeds from the sale of Series C Preferred Stock 0 11,144,520
Proceeds from initial public offering 56,000,000 0
Issuance costs of initial public offering (6,760,053) 0
Proceeds from issuance of common stock 29,528 9,898
Net cash provided by financing activities 49,269,475 11,718,008
Net changes in cash and cash equivalents 3,274,843 1,100,000
Cash and cash equivalents at the beginning of the period 8,455,834 7,355,834
Cash and cash equivalents at the end of the period 11,730,677 8,455,834
Non-cash operating, investing and financing activities:    
In-kind payment for license fee 0 1,599,750
Cumulative dividends earned, accrued and forfeited in the reporting period 0 1,271,676
Forfeiture of cumulative dividends, upon conversion of Preferred Stock 2,822,081 0
PPP loan forgiveness $ 567,311