Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,563,238) $ (3,860,840)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 4,166 4,717
Amortization expense 157,541 157,541
Stock-based compensation 98,558 346,477
Change in fair value of warrant liabilities (76,867) (26,716)
Loss on asset write-off 655
Realized foreign currency translation loss from dissolution of subsidiaries 7,171
Changes in operating assets and liabilities:    
Prepaid expenses 129,712 (822,507)
Other current assets (19,509) 58
Accounts payable and accrued liabilities 206,054 (118,369)
Lease liabilities (1,446)
Net cash used in operating activities (3,055,757) (4,321,085)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on financed director and officer insurance (179,310)
Proceeds from exercises of pre-funded warrants 871
Proceeds from at-the-market common stock sales 1,652,745
Net cash provided by financing activities 1,474,306
Effect of foreign currency translation on cash (620)
NET CHANGE IN CASH (1,581,451) (4,321,705)
Cash - Beginning of period 6,922,729 16,331,052
Cash - End of period 5,341,278 12,009,347
Supplemental disclosure of cash flow information:    
Cash paid for interest 7,892
Cash paid for taxes
Supplemental disclosures of non-cash activity:    
Amount due from sale of assets $ 40,500