Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net Loss $ (1,894,683) $ (18,708,007)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation
Shares issued for services 60,624
Amortization of stock options and restricted stock units 274,826 1,692,725
Loss on IP R&D asset impairment   9,063,000
Depreciation and amortization 61,408 83,015
Change in fair value of derivative liabilities (58) (69,776)
Gain loss on settlement of liabilities (194,211)
Deferred tax benefit (2,345,025)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,443,471 1,273,033
Accounts payable 4,060 (99,169)
Accounts payable - related parties 317,541 51,227
Accrued expenses (542,260) 94,778
Accrued expenses – related parties 141,366
Total adjustments 1,364,777 9,945,798
Net Cash Used In Operating Activities (529,906) (8,762,209)
Cash Flows from Financing Activities    
Proceeds from exercise of pre-funded warrants from the Amendment to August 2023 Offering 489
Proceeds from sale of April 2023 Offering stock and warrants 2,999,882
Proceeds from sale of August 2023 Offering stock and warrants 2,999,606
Proceeds from exercise of April 2023 Offering pre-funded warrants 117
Proceeds from exercise of August 2023 Offering pre-funded warrants 66
Payment of offering costs in connection with April 2023 Offering stock and warrants (279,994)
Payment of offering costs in connection with August 2023 Offering stock and warrants (294,976)
Repayment of loans payable (1,005,856) (985,175)
Net cash provided by (used in) financing activities (1,005,367) 4,439,526
Effect of Exchange Rate Changes on Cash (245,606) 15,093
Net Decrease In Cash (1,780,879) (4,307,590)
Cash – Beginning of Period 1,975,799 6,970,110
Cash – End of Period 194,920 2,662,520
Supplemental Disclosures of Cash Flow Information:    
Cash paid during the period for income taxes
Cash paid during the period for interest expense 12,078 21,722
Non cash investing and financing activities    
Common stock issued for settlement of liabilities 523,251
Warrants and Series B Convertible Preferred Stock issued for asset acquisition $ 7,622,041