XML 23 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net loss $ (2,958,068) $ (2,370,629)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 19,656 8,350
Amortization of debt discount 124,185
Stock-based compensation expense 64,463 327,500
Changes in assets and liabilities:    
Grant funds and other receivables (114,060) 53,211
Prepaid expenses and other current assets (24,702) (56,211)
Accounts payable and accrued expenses 137,956 639,282
Total adjustments 207,498 972,132
Net cash used in operating activities (2,750,570) (1,398,497)
Cash flows from investing activities:    
Purchase of property and equipment (156,791) (7,606)
Net cash used in investing activities (156,791) (7,606)
Cash flows from financing activities:    
Net proceeds from sale of preferred stock 300,000 1,440,000
Net proceeds from issuance of note payable 170,200
Net proceeds from bridge financing 888,500
Net proceeds from sale of common stock and warrants 11,158,496
Net proceeds from warrant exercises 2,500
Principal repayment of notes payable (11,880) (10,257)
Net cash provided by financing activities 12,507,816 1,429,743
Net increase in cash and cash equivalents 9,600,455 23,640
Cash and cash equivalents at beginning of period 283,341 259,701
Cash and cash equivalents at end of period $ 9,883,796 $ 283,341