Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,869,482) $ (3,563,238)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 4,821
Amortization expense 157,541 157,541
Stock-based compensation 139,182 98,558
Change in fair value of warrant liabilities 1,542,132 (76,867)
Realized foreign currency translation loss from dissolution of subsidiaries 7,171
Changes in operating assets and liabilities:    
Prepaid expenses (1,018,063) 129,712
Other current assets (12,647) (19,509)
Accounts payable and accrued liabilities 358,381 206,054
Net cash used in operating activities (4,787,220) (3,055,757)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on notes payable (179,310)
Proceeds from exercises of pre-funded warrants 750 871
Proceeds from at-the-market common stock sales 1,652,745
Net cash provided by financing activities 750 1,474,306
Effect of foreign currency translation on cash 28,132
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (4,758,338) (1,581,451)
Cash, cash equivalents, and restricted cash - Beginning of period 55,259,805 6,922,729
Cash, cash equivalents, and restricted cash - End of period 50,501,467 5,341,278
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 50,400,377 5,341,278
Restricted cash 101,090
Total cash, cash equivalents and restricted cash 50,501,467 5,341,278
Supplemental disclosure of cash flow information:    
Cash paid for interest 13,212 7,892
Cash paid for taxes