XML 16 R5.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net Income (loss) $ (1,096,253) $ 2,074,468
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 3,461 5,918
Stock-based compensation expense 55,047
Changes in assets and liabilities:    
Prepaid expenses and other current assets 119,167 395,154
Other assets 6,228
Amortization of right-of-use asset 31,610 91,730
Accounts payable (369,418) 74,742
Decrease in lease liabilities (33,605) (96,588)
Accrued expenses and other current liabilities 30,256 1,700
Net cash provided by (used in) operating activities (1,253,507) 2,547,124
Cash flows from financing activities    
Preferred stock dividend (68,809)
Purchase of preferred investment option (250,000)
Net cash used in financing activities (318,809)
Net increase (decrease) in cash and cash equivalents (1,253,507) 2,228,315
Cash and cash equivalents at beginning of period 2,070,075 1,374,992
Cash and cash equivalents at end of period 816,568 3,603,307
Supplemental disclosure of Cash Flow Information:    
Conversion of Series C 10% Convertible Preferred Stock to Common Stock $ 1,343,684