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, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (2,165,851) $ (3,261,773)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 63,481 32,801
Gain on disposal of assets (22,975)
Stock-based compensation 337,601 456,423
Amortization of debt discount 8,350
Amortization of debt issuance costs 373
Discount on investments 50,644 18,048
Changes in operating assets and liabilities:    
Vendor receivable 27,500 173,499
Prepaid expenses and other current assets 216,381 151,999
Accounts payable 352,319 268,700
Accrued liabilities (278,355) (59,235)
Accrued payroll and other compensation (209,061) (307,994)
Net cash used in operating activities (1,628,316) (2,518,809)
Cash flows from investing activities:    
Net proceeds from the sale of property and equipment 22,975
Payment for security deposit (6,976)
Purchases of investments (8,773,000) (21,983,000)
Proceeds from redemptions of investments 9,840,000 21,255,000
Net cash provided by (used in) investing activities 1,089,975 (734,976)
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 (used in) financing activities (174,376)
Net decrease in cash and cash equivalents (538,341) (3,428,161)
Cash and cash equivalents at beginning of period 5,930,731 4,992,145
Cash and cash equivalents at end of period 5,392,390 1,563,984
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 114,411