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, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,471,459) $ (1,934,133)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 13,427 13,379
Amortization of discount on royalty obligation 237,108 233,888
Amortization of debt discount 421,925 33,262
Impairment of intellectual property 0 47,980
Amortization of right-of-use asset 43,242 61,259
Loss on settlement of debt 0 34,338
Other income (32,405) 0
Stock based compensation 343,334 157,462
Changes in operating assets and liabilities:    
Accounts receivable 740 22,725
Grant receivable (33,470) 37,726
Prepaid expenses (9,018) (44,545)
Accounts payable and accrued expenses 1,043,732 450,488
Deposits 2,584 0
Lease liability (47,236) (65,380)
Deferred revenue (4,045) (17,347)
Net cash used in operating activities (491,541) (968,898)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from common stock subscription and royalty agreement 0 900,000
Payment to Economic Injury Disaster loan (712) (686)
Payment of notes payable - related party 0 (35,000)
Proceeds from notes payable 200,000 50,000
Proceeds from notes payable - related party 235,396 183,273
Net cash provided by financing activities 434,684 1,097,587
Net increase (decrease) in cash (56,857) 128,689
Cash, beginning of period 65,222 68,615
Cash, end of period 8,365 197,304
Supplemental disclosures of cash flow information:    
Interest paid 9,279 0
Taxes paid 0 0
Warrants issued in connection with issuance of promissory notes 83,552 0
Derivative liability recognized in connection with issuance of promissory notes 26,730 0
Common stock issued in connection with conversion of promissory notes and accounts payable 809,284 361,892
Common stock issued in connection with subscription agreement 9 0
Record right to use assets per ASC 842 (225,663) 0
Record lease liability per ASC 842 225,663 0
Common stock issued in connection with issuance of promissory notes $ 40,217 $ 6,000