Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (5,131,691) $ (4,807,791)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 163,871 121,423
Amortization of right of use asset 34,948 30,590
Write-off of capitalized patent 62,073 0
Write-off of fixed assets 14,459 0
Gain on lease termination (15,319) 0
Stock-based compensation 745,600 1,233,207
Decrease (increase) in operating assets:    
Accounts receivable 68,669 (137,388)
Inventory 1,788 0
Prepaid expenses and other assets 160,007 49,065
Increase (decrease) in operating liabilities:    
Accounts payable (174,464) (18,493)
Accrued expenses and other liabilities 135,175 250,414
Lease liability (36,046) (31,389)
Net cash used in operating activities (3,970,930) (3,408,492)
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract    
Purchase of property and equipment (64,036) (114,025)
Acquisition of intangible assets (174,968) (139,838)
Net cash used in investing activities (239,004) (253,863)
Cash flows from financing activities:    
Net proceeds from issuance of common stock and pre-funded warrants 15,724,818 0
Exercise of options 86,757 0
Payment of taxes related to restricted stock unit vestings (11,579) 0
Net cash provided by financing activities 15,799,996 0
Net increase (decrease) in cash and cash equivalents 11,590,062 (3,662,355)
Cash and cash equivalents at beginning of period 8,474,835 16,345,623
Cash and cash equivalents at end of period $ 20,064,897 $ 12,683,268