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, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,262,810) $ (2,645,968)
Adjustments to reconcile net loss to cash flows used in operating activities:    
Depreciation and amortization 13,726 38,719
Amortization of discount on royalty obligation 233,888 233,888
Amortization of right-of-use asset 55,931 51,097
Stock based compensation 210,932 114,940
Gain on forgiveness of debt 0 (28,229)
Warrants issued in connection with loan default 301,796 0
Changes in operating assets and liabilities:    
Accounts receivable (11,465) 500
Grant receivable (61,000) 224,879
Prepaid expenses (41,649) 37,744
Accounts payable and accrued expenses 411,859 (132,991)
Lease liability (58,238) (51,641)
Deferred revenue (17,347) (45,696)
Deferred revenue-grant 0 (65,560)
Net cash used in operating activities (1,224,377) (2,268,318)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment 0 (2,017)
Net cash used in investing activities 0 (2,017)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from common stock subscription and royalty agreement 1,250,000 2,250,000
Proceeds from PPP loan 0 131,440
Net cash provided by financing activities 1,250,000 2,381,440
Net increase in cash and restricted cash 25,623 111,105
Cash and restricted cash, beginning of the period 85,838 592,053
Cash and restricted cash, end of period 111,461 703,158
Cash and restricted cash consist of the following, end of period:    
Cash 81,761 703,158
Restricted 29,700 0
Total Cash and restricted cash 111,461 703,158
Cash and restricted cash consist of the following, beginning of period:    
Cash 85,838 592,053
Restricted cash 0 0
Total cash and restricted cash 85,838 592,053
Supplemental disclosures of cash flow information:    
Interest paid 0 0
Taxes paid $ 0 $ 0