v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities    
Net (Loss) Income $ (1,069,744) $ (4,762,078)
Adjustments to reconcile net loss to net cash used in operating activities:    
Shares issued for services
Amortization of stock options and restricted stock units 236,062 557,421
Amortization of intangibles 23,576 21,772
Change in fair value of derivative liabilities 191 (53,323)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 480,533 424,913
Accounts payable (97,254) (621,861)
Accounts payable – related parties (212,543)
Accrued expenses (447,946) 526,367
Accrued expenses – related parties 53,708 36,898
Total adjustments 36,327 892,187
Net Cash Used In Operating Activities (1,033,417) (3,869,891)
Cash Flows From Financing Activities    
Proceeds from exercise of pre-funded warrants from the Amendment to August 2023 Offering 489
Repayment of loans payable (264,883) (469,810)
Net Cash Used In Financing Activities (264,394) (469,810)
Effect of Exchange Rate Changes on Cash (2,011) 15,775
Net Decrease In Cash (1,299,822) (4,323,926)
Cash - Beginning of Period 1,975,799 6,970,110
Cash - End of Period 675,977 2,646,184
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for income taxes
Cash paid during the period for interest $ 12,078 $ 7,265

Source