Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net loss $ (2,110,843) $ (1,763,759)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 70,343 57,248
Write-off of capitalized patents 528 18,235
Stock-based compensation 153,644 226,168
Stock issued for services 68,680 50,000
Gain on loan forgiveness (91,407) 0
Decrease (increase) in operating assets:    
Accounts receivable 37,916 6,515
Prepaid expenses and other assets (57,663) 35,715
Increase (decrease) in operating liabilities:    
Accounts payable 57,123 (135,623)
Accrued expenses 70,584 8,144
Net cash used in operating activities (1,801,095) (1,497,357)
Cash flows from investing activities:    
Purchase of property and equipment (32,919) (10,678)
Acquisition of intangible assets (112,100) (23,288)
Net cash used in investing activities (145,019) (33,966)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 21,204,609 0
Exercise of options and warrants 3,301,226 175,816
Proceeds from loans 0 91,407
Net cash provided by financing activities 24,505,835 267,223
Net increase (decrease) in cash and cash equivalents 22,559,721 (1,264,100)
Cash and cash equivalents at beginning of year 3,157,256 3,057,682
Cash and cash equivalents at end of year $ 25,716,977 $ 1,793,582