XML 45 R10.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:        
Net loss $ (4,092,384) $ (4,526,641) $ (15,591,428) $ (24,095,727)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense 121,371 278,131 928,052 897,260
Amortization of premium and discount on marketable securities (50,578) (13,546) (208,577) 0
Changes in operating assets and liabilities:        
Prepaid expenses, deposits and other assets (655,124) (495,903) 413,187 (248,997)
Accounts payable, accrued expenses and other current liabilities (291,405) 28,146 (510,348) 605,370
Net cash used in operating activities (4,968,120) (4,729,813) (14,969,114) (14,501,789)
Cash flows from investing activities:        
Purchases of marketable securities 0 (22,716,415) (37,985,738) 0
Maturities of marketable securities 9,500,000 0 25,750,000 0
Net cash used in investing activities 9,500,000 (22,716,415) (12,235,738) 4,000
Cash flows from financing activities:        
Proceeds from the sale of preferred stock 0 5,000 5,000 0
Net cash provided by financing activities 0 5,000 5,000 33,295,752
Net (decrease) increase in cash and cash equivalents 4,531,880 (27,441,228) (27,199,852) 18,797,963
Cash and cash equivalents at beginning of year 10,113,706 37,313,558 37,313,558 18,515,595
Cash and cash equivalents at end of year 14,645,586 9,872,330 10,113,706 37,313,558
Supplemental disclosure of non-cash investing and financing activities:        
Unrealized loss on marketable securities $ 32,252 $ (49,658) $ 35,375 $ 0