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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:        
Net loss $ (1,411,620) $ (9,085,268) $ (3,892,932) $ (11,964,663)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense 278,969 56,739 579,734 99,295
Depreciation expense 25,000 22,000 53,104 46,394
Noncash lease expense     2,816 358
Reverse recapitalization issuance costs in excess of gross proceeds   6,566,821   6,566,821
Change in fair value of derivative warrant liabilities (72,591) (1,454,440) (99,353) (1,454,440)
Changes in operating assets and liabilities:        
Accounts receivable     (215,680) (100,000)
Prepaid expenses and other current assets     561,579 (101,413)
Due from related parties       286
Accounts payable     487,297 983,634
Accrued expenses and other current liabilities     (267,866) 400,166
Security deposits       (11,000)
Deferred revenue     (107,970)  
Net cash used in operating activities     (2,899,271) (5,534,562)
Cash flows from investing activities:        
Purchases of property and equipment     (94,009) (3,453)
Net cash flows used in investing activities     (94,009) (3,453)
Cash flows from financing activities:        
Proceeds from January 2023 PIPE, net of issuance costs     1,985,301  
Net proceeds from Transaction and Maxim Private Placement       3,307,162
Proceeds from the Arena Purchase Agreement     49,158  
Repayment of insurance premium financing     (518,552)  
Proceeds from exercise of stock options     1,443 659,501
Net cash provided by financing activities     1,517,350 3,966,663
Net decrease in cash, cash equivalents and restricted cash     (1,475,930) (1,571,352)
Cash, cash equivalents and restricted cash at beginning of period     2,002,232 6,560,140
Cash, cash equivalents, and restricted cash at end of period 526,302 4,988,788 526,302 4,988,788
Supplemental information:        
Cash and cash equivalents 476,302 4,938,788 476,302 4,938,788
Restricted cash 50,000 50,000 50,000 50,000
Total cash, cash equivalents, and restricted cash shown in statements of cash flows $ 526,302 $ 4,988,788 526,302 4,988,788
Supplemental disclosure of noncash investing and financing activities:        
Fixed asset additions in accounts payable       25,154
Stock issuance costs in accounts payable and accrued expenses and other current liabilities     383,616  
Acquisition of right-of-use asset       162,634
Conversion of convertible preferred stock into common stock       20,857,453
Financing of insurance premiums     647,799 1,516,000
Issuance of common stock to settle stock issuance costs       3,443,750
Issuance of common stock in exchange for services by the Company's Board of Directors     68,125  
Issuance of Series A preferred stock to settle stock issuance costs       910,000
Accretion on convertible preferred stock     $ 172,688 201,168
Issuance of Series A preferred stock to settle underwriting fees payable assumed in Transaction       3,395,389
Derivative warrant liabilities assumed in Transaction       $ 2,286,379