Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities    
Net Loss $ (18,708,007) $ (16,983,981)
Stock-based compensation:    
Shares issued for services 60,624 270,967
Amortization of stock options and restricted stock units 1,692,725 2,002,980
Amortization of intangibles 83,015 71,396
Loss on IP R&D asset impairment 9,063,000
Loss on goodwill impairment 18,872,850
Change in fair value of derivative liabilities (69,776) (14,167,560)
Deferred tax benefit (2,345,025)
Prepaid expenses and other current assets 1,273,033 36,340
Accounts payable (99,169) 428,632
Accrued expenses 94,778 127,449
Total adjustments 9,945,798 7,783,151
Net Cash Used In Operating Activities (8,762,209) (9,200,830)
Cash Flows From Financing Activities    
Repayment of loans payable (985,175) (1,491,986)
Net Cash Provided By Financing Activities 4,439,526 4,477,924
Effect of Exchange Rate Changes on Cash 15,093 87,037
Net Decrease In Cash (4,307,590) (4,635,869)
Cash - Beginning of Period 6,970,110 8,224,508
Cash - End of Period 2,662,520 3,588,639
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for income taxes
Cash paid during the period for interest expense 21,722 13,423
Offering costs in connection with July 2022 Offering stock and warrants    
Cash Flows From Financing Activities    
Proceeds from sale of Offering stock and warrants 6,499,737
Payment of offering costs in connection with Offering stock and warrants (529,982)
Offering costs in connection with April 2023 Offering stock and warrants    
Cash Flows From Financing Activities    
Proceeds from sale of Offering stock and warrants 2,999,882
Payment of offering costs in connection with Offering stock and warrants (279,994)
Offering costs in connection with August 2023 Offering stock and warrants    
Cash Flows From Financing Activities    
Proceeds from sale of Offering stock and warrants 2,999,606
Payment of offering costs in connection with Offering stock and warrants (294,976)
Exercise of July 2022 Offering pre-funded warrants    
Cash Flows From Financing Activities    
Proceeds from exercise of Offering pre-funded warrants 155
Exercise of April 2023 Offering pre-funded warrants    
Cash Flows From Financing Activities    
Proceeds from exercise of Offering pre-funded warrants 117
Exercise of August 2023 Offering pre-funded warrants    
Cash Flows From Financing Activities    
Proceeds from exercise of Offering pre-funded warrants 66
Related Party    
Stock-based compensation:    
Accounts payable – related parties 51,227
Accrued expenses – related parties $ 141,366 $ 140,097