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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities:    
Net loss $ (14,185,306) $ (11,799,379)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 103,168 97,915
Stock-based compensation expense 736,119 515,762
Change in deferred income taxes (1,675,381) 332,885
Changes in operating assets and liabilities:    
Prepaid expenses, deposits and other assets 518,169 426,774
Accounts payable, accrued expenses and other liabilities 950,602 567,668
Net cash used in operating activities (13,552,629) (9,858,375)
Cash flows provided by financing activities:    
Proceeds from the sale of common stock 10,827,100
Proceeds from the sale of common stock, pre-funded warrants and warrants 12,318,956
Proceeds from the exercise of common stock warrants and pre-funded warrants 8,046,103 3,888,425
Payment of offering costs (982,328) (162,829)
Net cash provided by financing activities 17,890,875 16,044,552
Net increase in cash and cash equivalents 4,338,247 6,186,177
Cash and cash equivalents at beginning of year 14,177,349 7,991,172
Cash and cash equivalents at end of year 18,515,595 14,177,349
Supplemental disclosure of non-cash investing and financing activities:    
Offering costs in accounts payable and accrued expenses 238,232
Operating lease right of use asset and liability $ 334,205