XML 17 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows From Operating Activities:    
Net loss $ (2,184,966) $ (2,456,915)
Adjustments to reconcile net loss to cash used in operating activities    
Change in fair value of warrant liability (858) (10,039)
Change in fair value of investment option liability (1,707) (11,398)
Stock-based compensation 193,848 351,488
Amortization of intangibles 42,182 42,188
Depreciation expense 38,842 43,221
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (46,126) (759,289)
Accounts payable, accrued expenses and other current liabilities (301,281) 202,397
Due to related parties (131,516)
Net cash used in operating activities (2,391,582) (2,598,347)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock and warrants, net of offering costs 4,373,870
Proceeds from the exercise of warrants 75,044 2,676,980
Proceeds from the subscription receivable related to the issuance of Inducement Warrants and the exercise of warrants and preferred investment options 1,817,640
Proceeds from common stock sold under the Equity Distribution Agreement, net of offering costs 2,307,707
Payment for offering costs previously accrued (144,058)
Net cash provided by financing activities 4,448,914 6,658,269
Effect of foreign exchange rate on changes on cash (3,923) 8,137
Net increase in cash 2,053,409 4,068,059
Cash at beginning of period 2,241,026 2,287,977
Cash at end of period 4,294,435 6,356,036
Supplemental disclosure of cash flow transactions:    
Cash paid for interest
Income taxes paid 24,001
Non-cash financing and investing activities:    
Non-cash issuance of round-up shares 874
Non-cash issuance of RSA vested shares 146
Offering costs accrued not paid 129,403 49,249
Issuance of common shares for offering costs $ 322,453