Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Cash flows from operating activities:          
Net loss $ (1,668,355) $ (1,546,304) $ (3,036,014) $ (3,203,222)  
Stock-based compensation expense included in -          
Stock-based compensation expense 280,060 424,094 557,040 763,766  
Increase (decrease) in -          
Advances on research and development contract services     69,002 3,224  
Prepaid insurance     (5,426) 8,574  
Other prepaid expenses and current assets     (39,183) (30,313)  
Accounts payable and accrued expenses     136,764 146,743  
Research and development contract liabilities     (128,936) 81,871  
Net cash used in operating activities     (2,446,753) (2,229,357)  
Cash flows from financing activities:          
Exercise of common stock options     6,281  
Proceeds from sale of common stock in registered direct offering, net of offering costs     5,141,384  
Net cash provided by financing activities     6,281 5,141,384  
Cash:          
Net increase (decrease)     (2,440,472) 2,912,027  
Balance at beginning of period     5,353,392 4,823,745 $ 4,823,745
Balance at end of period $ 2,912,920 $ 7,735,772 2,912,920 7,735,772 $ 5,353,392
Supplemental disclosures of cash flow information:          
Interest     5,809 3,121  
Income taxes      
General and Administrative Expense [Member]          
Stock-based compensation expense included in -          
Stock-based compensation expense     557,040 763,766  
Research and Development Expense [Member]          
Stock-based compensation expense included in -          
Stock-based compensation expense