v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (13,732,350) $ (30,534,839) $ (21,386,162)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation and amortization   122,415 110,276
Stock-based compensation expense   1,325,841 1,091,517
Noncash lease expense   42,768 66,547
Loss on disposal of fixed assets     3,386
Warrant issuance expense   470,000  
Loss on revaluation of warrants 3,900,000 3,900,000  
Changes in:      
Prepaid expenses and other current assets   (408,790) (108,451)
Lease liability   (34,815) (99,772)
Accounts payable and accrued liabilities   2,336,146 2,512,121
Cash used in operating activities   (22,781,274) (17,810,538)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of fixed assets   (597,282) (108,115)
Cash used in investing activities   (597,282) (108,115)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from exercise of warrants   348,641  
Proceeds from issuance of preferred stock and warrants, net of issuance costs   22,150,000  
Cash provided by financing activities   22,498,641  
NET DECREASE IN CASH AND CASH EQUIVALENTS   (879,915) (17,918,653)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD   19,866,358 35,703,975
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 18,986,443 $ 18,986,443 $ 17,785,322

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