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Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net Income (Loss) $ (22,748,253) $ (9,375,106)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 373,433 583,180
Stock-based compensation 484,506 522,629
Unrealized loss (gain) on investments, net 0 (223,440)
Changes in the carrying amount of right-of-use asset (418) (418)
Changes in operating assets and liabilities:    
Accounts receivable 880,784 (289,516)
Deposit for interest reserve 0 (5,250,000)
Prepaid expenses and other assets 703,805 (49,819)
Accounts payable and other liabilities 11,896,608 1,212,921
Operating lease liability (56,541) (160,490)
Net cash used in operating activities (8,466,076) (13,030,059)
Cash flows from investing activities:    
Purchases of property and equipment (111,142) (1,856,900)
Net cash used in investing activities (111,142) (1,856,900)
Cash flows from financing activities:    
Proceeds from issuance of common stock 2,502,260 9,613
Proceeds from issuance of debt 3,700,000 0
Debt repayment (58,829) 0
Net cash provided by financing activities 6,143,431 9,613
Net (decrease) increase in cash and cash equivalents (2,433,787) (14,877,346)
Cash and cash equivalents at the beginning of the period 3,595,101 22,326,356
Cash and cash equivalents at the end of the period 1,161,314 7,449,010
Supplemental disclosure of cash flow information:    
Cash paid for interest, net of amounts capitalized 159,666 188,951
Noncash operating, investing and financing activities:    
Capital expenditures accrued, but not yet paid 1,769,621 357,466
Purchases of property and equipment included in accounts payable and other liabilities $ 829,207 $ 18,382