Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net loss $ (3,349,521) $ (6,658,498)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 113,607 86,368
Write-off of capitalized patents 528 18,235
Stock-based compensation 247,512 434,782
Stock issued for services 68,680 50,000
Warrant inducement expense 0 3,720,866
Gain on forgiveness of long-term debt (91,407) 0
Decrease (increase) in operating assets:    
Accounts receivable (92,240) (28,623)
Prepaid expenses and other assets 105,687 127,632
Increase (decrease) in operating liabilities:    
Accounts payable (44,629) (116,246)
Accrued expenses 49,040 61,845
Net cash used in operating activities (2,992,743) (2,303,639)
Cash flows from investing activities:    
Purchase of property and equipment (43,685) (12,407)
Acquisition of intangible assets (139,116) (35,836)
Net cash used in investing activities (182,801) (48,243)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 21,204,609 0
Exercise of options and warrants 3,301,226 2,972,018
Proceeds from loans 0 91,407
Net cash provided by financing activities 24,505,835 3,063,425
Net increase in cash and cash equivalents 21,330,291 711,543
Cash and cash equivalents at beginning of period 3,157,256 3,057,682
Cash and cash equivalents at end of period $ 24,487,547 $ 3,769,225