Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,934,133) $ (2,262,810)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 13,379 13,725
Amortization of discount on royalty obligation 233,888 233,888
Amortization of debt discount 33,262 0
Impairment of intellectual property 47,980 0
Amortization of right-of-use asset 61,259 55,931
Loss on settlement of debt 34,338 0
Stock based compensation 157,462 210,932
Warrants issued in connection with loan default 0 301,796
Changes in operating assets and liabilities:    
Accounts receivable 22,725 (11,465)
Grant receivable 37,726 (61,000)
Prepaid expenses (44,545) (41,649)
Accounts payable and accrued expenses 450,488 411,860
Lease liability (65,380) (58,238)
Deferred revenue (17,347) (17,347)
Net cash used in operating activities (968,898) (1,224,377)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from common stock subscription and royalty agreement 900,000 1,250,000
Payment to Economic Injury Disaster loan (686) 0
Payment of notes payable - related party (35,000) 0
Proceeds from notes payable 50,000 0
Proceeds from notes payable - related party 183,273 0
Net cash provided by financing activities 1,097,587 1,250,000
Net increase in cash and restricted cash 128,689 25,623
Cash and restricted cash, beginning of the period 68,615 85,838
Cash and restricted cash, end of period 197,304 111,461
Cash and restricted cash consist of the following, end of period:    
Cash 197,304 81,761
Restricted cash 0 29,700
Total 197,304 111,461
Cash and restricted cash consist of the following, beginning of the period:    
Cash 68,615 85,838
Restricted cash 0 0
Total 68,615 85,838
Supplemental disclosures of cash flow information:    
Interest paid 0 0
Taxes paid 0 $ 0
Common stock issued in connection with conversion of promissory notes and accounts payable 361,892  
Common stock issued in connection with issuance of promissory notes $ 6,000