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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows From Operating Activities:    
Net loss $ (6,420,341) $ (13,855,796)
Adjustments to reconcile net loss to cash used in operating activities    
Change in fair value of warrant liability (20,722) 115,342
Change in fair value of investment option liability (18,664) 399,921
Change in fair value of derivative liability (727,000)
Stock-based compensation 1,090,716 1,785,432
Amortization of right of use asset 64,246
Amortization of intangibles 126,564 126,566
Depreciation expense 128,438 132,734
Gain on disposal of property and equipment (4,219)
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (3,674) (746,033)
Accounts payable and accrued liabilities (1,296,907) 429,688
Right-of-use operating lease asset and obligation (64,244)
Net cash used in operating activities (6,414,590) (12,343,363)
Cash Flows From Investing Activities:    
Purchases of property and equipment (5,195)
Proceeds from disposal of property and equipment 16,900
Net cash provided by investing activities 11,705
Cash Flows From Financing Activities:    
Proceeds from the subscription receivable related to the issuance of Inducement Warrants and the exercise of warrants and preferred investment options 1,804,819
Proceeds from exercise of Inducement Warrants 2,676,980
Proceeds from common stock sold under the Equity Distribution Agreement, net of offering costs 2,290,186
Proceeds from common stock sold under the Purchase Agreement, net of offering costs 599,862
Payment for offering costs previously accrued (161,461) (105,000)
Redemption of Series A Preferred Stock (1,052,057)
Net cash provided by (used in) financing activities 7,210,386 (1,157,057)
Effect of Foreign Exchange Rate on Changes on Cash 27,910 31,399
Net increase (decrease) in cash 823,706 (13,457,316)
Cash at beginning of period 2,287,977 17,723,884
Cash at end of period 3,111,683 4,266,568
Supplemental disclosure of cash and non-cash transactions:    
Cash paid for interest
Income taxes paid 24,001 6,595
Offering costs accrued not paid 35,455 20,800
Deferred offering costs charged to offering costs 495,544
Issuance of common shares for offering costs 771,293
Preferred dividends attributable to redeemable non-controlling interest 19,041
Accretion of embedded derivative to redemption value $ 147,988