Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ (21,581,637) $ (8,581,267)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 88,490 42,557
Stock-based compensation expense 454,363 408,206
Loss on revaluation of warrants 9,900,000  
Noncash lease expense 15,436 13,829
Changes in:    
Prepaid expenses and other current assets (448,959) (488,719)
Lease liability (4,639) (4,378)
Accounts payable and accrued liabilities (1,784,695) 1,426,102
Cash used in operating activities (13,361,641) (7,183,670)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of fixed assets (21,633)  
Cash used in investing activities (21,633)  
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of warrants, net of issuance costs (Note 2) 43,849,467 3
Cash provided by financing activities 43,849,467 3
NET DECREASE IN CASH AND CASH EQUIVALENTS 30,466,193 (7,183,667)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 9,564,988 19,866,358
CASH AND CASH EQUIVALENTS AT END OF PERIOD 40,031,181 $ 12,682,691
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Settlement of warrants to equity 4,800,000  
Conversion of pre-funded warrants into common shares $ 31,758,346