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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net loss $ (5,684,038) $ (5,243,207)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 54,041 52,662
Stock-based compensation expense 304,824 240,284
Change in deferred income taxes (869,705) (259,256)
Changes in operating assets and liabilities:    
Prepaid expenses, deposits and other assets (604,558) (106,390)
Accounts payable, accrued expenses and other liabilities 151,411 48,320
Net cash used in operating activities (6,648,025) (5,267,587)
Cash flows provided by financing activities:    
Proceeds from the sale of common stock 10,827,100 5,731,779
Proceeds from the exercise of common stock warrants 8,038,603
Payment of financing costs (833,428) (82,623)
Net cash provided by financing activities 18,032,275 5,649,156
Net increase in cash and cash equivalents 11,384,250 381,569
Cash and cash equivalents at beginning of period 14,177,349 7,991,172
Cash and cash equivalents at end of period 25,561,599 8,372,741
Supplemental disclosure of non-cash investing and financing activities:    
Offering costs in accounts payable 148,900 80,206
Operating lease right of use asset and current and noncurrent liability $ 334,205