Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net loss $ (4,038,344) $ (4,217,563)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 36,685 43,958
Stock-based compensation 320,444 882,645
Equity modification expense 802,400
Amortization of debt discount 12,932 87,201
Amortization of debt issuance costs 574 4,081
Discount on investments (2,424)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 70,019 63,414
Accounts payable 324,432 17,348
Accrued liabilities (826,920) (6,018)
Accrued payroll and other compensation (36,785) (104,435)
Net cash used in operating activities (4,139,387) (2,426,969)
Cash flows from investing activities:    
Purchases of property and equipment (7,183)
Payment for security deposit (2,217) (3,161)
Purchases of investments (8,029,000)
Proceeds from redemptions of investments 10,152,000
Net cash provided by (used in) investing activities 2,120,783 (10,344)
Cash flows from financing activities:    
Proceeds from exercise of warrants 67,536
Repayment of promissory notes (85,000)
Proceeds from exercise of employee stock options 958,847 42,226
Net cash provided by financing activities 941,383 42,226
Net decrease in cash and cash equivalents (1,077,221) (2,395,087)
Cash at beginning of period 2,894,575 12,563,853
Cash at end of period 1,817,354 $ 10,168,766
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 20,437