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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net loss $ (4,526,641) $ (4,643,919)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 0 24,447
Stock-based compensation expense 278,131 181,280
Amortization of premium and discount on marketable securities (13,546) 0
Changes in operating assets and liabilities:    
Prepaid expenses, deposits and other assets (495,903) (417,677)
Accounts payable, accrued expenses and other liabilities 28,146 (320,501)
Net cash used in operating activities (4,729,813) (5,176,370)
Cash flows used in investing activities:    
Purchases of marketable securities (22,716,415) 0
Net cash used in investing activities (22,716,415) 0
Proceeds from the sale of common stock, net of issuance costs 0 31,094,302
Proceeds received from the exercise of common stock warrants 0 2,201,450
Proceeds from the sale of series C preferred stock to related parties 5,000 0
Net cash provided by financing activities 5,000 33,295,752
Net (decrease) increase in cash and cash equivalents (27,441,228) 28,119,382
Cash and cash equivalents at beginning of year 37,313,558 18,515,595
Cash and cash equivalents at end of period 9,872,330 46,634,977
Supplemental disclosure of non-cash activities:    
Unrealized loss on marketable securities $ 49,658 $ 0