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 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (919,371) $ (10,178,640) $ (27,561,355) $ (17,369,110)
Adjustments to reconcile net loss to cash used in operating activities:        
Depreciation and amortization     154,511 81,207
Stock-based compensation expense     1,253,613 827,963
Change in operating lease right-of-use asset     31,467 28,034
Change in fair value of warrants (12,455,431) 1,957,418 2,504,915 566,621
Changes in:        
Prepaid expenses and other current assets     (1,148,228) 257,998
Lease liability     (22,126) (19,332)
Accounts payable and accrued liabilities     (2,715,437) 913,230
Cash used in operating activities     (27,502,640) (14,713,389)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchases of property, plant & equipment     (42,909)  
Cash used in investing activities     (42,909)  
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from exercise of warrants, net of issuance costs     43,849,468 3
Cash provided by financing activities     43,849,468 3
NET INCREASE IN CASH AND CASH EQUIVALENTS     16,303,919 (14,713,386)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD     9,564,988 19,866,358
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 25,868,907 $ 5,152,972 25,868,907 $ 5,152,972
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION        
Settlement of warrants to equity     4,800,000  
Conversion of preferred stock to common stock     $ 40,051,711