XML 16 R5.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income (loss) from operations $ (1,920,793) $ 1,258,479
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 4,625 8,876
Stock-based compensation expense 58,974
Changes in assets and liabilities:    
Prepaid expenses and other current assets 178,226 592,511
Other assets 6,228
Amortization of operating lease right-of-use asset 31,610 138,236
Accounts payable (407,009) 11,079
Operating lease liabilities (33,605) (146,078)
Accrued expenses and other current liabilities 68,925 14,124
Net cash provided by (used in) operating activities (2,012,819) 1,877,227
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 (2,012,819) 1,558,418
Cash and cash equivalents at beginning of period 2,070,075 1,374,992
Cash and cash equivalents at end of period 57,256 2,933,410
Supplemental disclosure of Cash Flow Information:    
Conversion of Series C 10% Convertible Preferred Stock to Common Stock $ 1,343,684