v3.21.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities    
Net loss $ (5,150,781) $ (2,786,714)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation 331,281 168,607
Depreciation and amortization 59,058 44,961
Amortization of right-of-use assets 152,122 144,494
Change in fair value of derivatives (264,853)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (125,218) (104,159)
Security deposit and other assets (5,150)
Accounts payable (1,083,905) 346,167
Accrued expenses (532,975) 123,971
Payments on lease liabilities (157,101) (144,342)
Total adjustments (1,361,888) 314,846
Net Cash Used in Operating Activities (6,512,669) (2,471,868)
Cash Flows from Investing Activities    
Purchase of property and equipment (150,509) (127,786)
Net Cash Used in Investing Activities (150,509) (127,786)
Cash Flows from Financing Activities    
Proceeds from private placements of common stock and warrants, net 570,341
Proceeds from registered direct offerings of common stock with warrants, net 1,973,308
Proceeds from public offering, net 38,127,776
Proceeds from issuance of note payable 312,700
Proceeds from Warrant Exercises 240,000
Net Cash Provided by Financing Activities 38,367,776 2,856,349
Net Increase in Cash, Cash Equivalent, and Restricted Cash 31,704,598 256,695
Cash, cash equivalents and restricted cash - Beginning of period 9,334,584 2,117,286
Cash, cash equivalents and restricted cash - End of period 41,039,182 2,373,981
Cash Paid (Received) During the Years For:    
Interest, net (9,660) (2,861)
Non-Cash Financing Activities:    
Fair value of warrants issued in connection with common stock included in derivative liabilities 513,534
Fair value of placement agent warrants issued in connection with common stock included in derivative liabilities 32,502
Fair value of common stock issued in satisfaction of trade payable 37,576
Fair value of warrants issued $ (211,976)

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