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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities:    
Net loss $ (20,621,286) $ (10,123,249)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 67,302 78,233
Stock-based compensation expense 642,952 584,297
Deferred income taxes (443,893) (1,675,381)
Intangible asset impairment charge 8,639,000 0
Changes in operating assets and liabilities:    
Prepaid expenses, deposits and other assets (119,080) (224,224)
Accounts payable, accrued expenses and other liabilities 358,703 1,202,283
Net cash used in operating activities (11,476,302) (10,158,041)
Cash flows provided by financing activities:    
Proceeds from the sale of common stock and warrants, net of issuance costs 31,094,302 10,827,100
Proceeds from the exercise of common stock warrants 2,201,450 8,046,103
Payment of financing costs 0 (982,328)
Net cash provided by financing activities 33,295,752 17,890,875
Net increase in cash and cash equivalents 21,819,450 7,732,834
Cash and cash equivalents at beginning of period 18,515,595 14,177,349
Cash and cash equivalents at end of period $ 40,335,045 $ 21,910,183