Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net loss $ (6,498,203) $ (5,986,741)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 64,395 65,044
Gain on disposal of assets (22,975)
Stock-based compensation 670,362 891,379
Amortization of debt discount 8,350
Amortization of debt issuance costs 373
Discount on investments 17,579 36,687
Changes in operating assets and liabilities:    
Vendor receivable (14,823) 173,499
Prepaid expenses and other current assets 333,939 (540,753)
Accounts payable 1,195,638 (63,388)
Accrued liabilities 170,509 (119,354)
Accrued payroll and other compensation 602,120 (395,742)
Payment for security deposit 50,096 (6,976)
Net cash used in operating activities (3,431,363) (5,937,622)
Cash flows from investing activities:    
Net proceeds from the sale of property and equipment 22,975
Purchases of investments (13,283,000) (34,140,000)
Proceeds from redemptions of investments 16,953,000 38,138,000
Net cash provided by investing activities 3,692,975 3,998,000
Cash flows from financing activities:    
Proceeds from the At-the-Market Offering, net 200,624
Repayment of promissory notes (375,000)
Net cash provided by financing activities (174,376)
Net increase (decrease) in cash and cash equivalents 261,612 (2,113,998)
Cash and cash equivalents at beginning of period 5,930,731 4,992,145
Cash and cash equivalents at end of period 6,192,343 2,878,147
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 800 1,333
Cash paid for interest $ 114,411