General form of registration statement for all companies including face-amount certificate companies

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.24.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:                          
Net loss $ (17,520,378) $ (10,178,640) $ (7,190,470) $ (7,511,322) $ (5,635,043) $ (6,239,797) $ (17,369,110) $ (11,874,840) $ (42,226,073) $ (34,889,488) $ (19,386,162) $ (42,770,610) $ (31,792,618)
Adjustments to reconcile net loss to cash used in operating activities:                          
Depreciation and amortization     42,557     43,417 81,207 77,316 223,082 122,415 110,276 192,375 148,435
Stock-based compensation expense     408,206     303,805 827,963 723,758 2,787,666 1,325,841 1,091,517 2,410,288 1,452,964
Loss on disposal of asset               3,386     3,386   3,386
Warrant issuance expense                 7,743,284 470,000   470,000 6,824,605
Change in operating lease right-of-use asset     13,829     21,358 28,034 43,533 48,117 42,768 66,547 58,051 90,432
Change in fair value of warrants 7,688,028 1,957,418 (1,390,797) (300,000) (1,800,000) 100,000 566,621 (1,700,000) (3,583,440) 8,254,649 (2,000,000) 3,787,114 (3,633,241)
Changes in:                          
Prepaid expenses and other current assets     (488,719)     107,065 257,998 387,817 (747,593) (408,790) (108,451) (173,548) 204,242
Lease liability     (4,378)     (32,433) (19,332) (65,684) (40,232) (34,815) (99,772) (50,846) (144,035)
Accounts payable and accrued liabilities     1,426,102     656,802 913,230 1,607,353 (874,334) 2,336,146 2,512,121 3,700,202 1,623,529
Cash used in operating activities     (7,183,670)     (5,039,783) (14,713,389) (10,797,361) (36,669,523) (22,781,274) (17,810,538) (32,376,974) (25,222,301)
CASH FLOWS FROM INVESTING ACTIVITIES:                          
Purchases of property, plant & equipment           (30,070)   (101,049) (42,909) (597,282) (108,115) (864,038) (225,971)
Cash used in investing activities           (30,070)   (101,049) (42,909) (597,282) (108,115) (864,038) (225,971)
CASH FLOWS FROM FINANCING ACTIVITIES:                          
Proceeds from issuance of preferred stock and warrants, net of issuance costs                   22,150,000   22,150,000 9,610,655
Proceeds from exercise of warrants, net of issuance costs     3       3   61,410,815 348,641   789,642  
Cash provided by financing activities     3       3   61,410,815 22,498,641   22,939,642 9,610,655
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS     (7,183,667)     (5,069,853) (14,713,386) (10,898,410) 24,698,383 (879,915) (17,918,653) (10,301,370) (15,837,617)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,152,972 12,682,691 19,866,358 24,805,565 30,634,122 35,703,975 19,866,358 35,703,975 9,564,988 19,866,358 35,703,975 19,866,358 35,703,975
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 18,986,443 $ 5,152,972 $ 12,682,691 $ 17,785,322 $ 24,805,565 $ 30,634,122 $ 5,152,972 $ 24,805,565 34,263,371 $ 18,986,443 $ 17,785,322 9,564,988 $ 19,866,358
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION                          
Settlement of warrants to equity                 7,410,000        
Conversion of preferred stock to common stock                 $ 54,553,720     13,242,368  
Conversion of pre-funded warrants to liability                       $ 3,239,112