Quarterly report [Sections 13 or 15(d)]

Statements of Cash Flows (Unaudited)

v3.25.1
Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (2,703,024) $ (2,469,626)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 90,476 81,121
Amortization of right of use asset 20,876 16,157
Write-off of property and equipment 1,201 10,217
Stock-based compensation 384,595 381,019
Accounts receivable (7,843) (70,000)
Inventory (7,069) 27,912
Prepaid expenses and other assets 44,405 211,438
Accounts payable 51,590 (23,086)
Accrued expenses and other liabilities 63,499 32,357
Lease liability (19,618) (16,980)
Net cash used in operating activities (2,066,774) (1,875,295)
Cash flows from investing activities:    
Purchase of property and equipment (11,324) (29,611)
Acquisition of intangible assets (58,554) (73,939)
Net cash used in investing activities (69,878) (103,550)
Cash flows from financing activities:    
Payment of taxes upon vesting of restricted stock units (9,346) 0
Net proceeds from issuance of common stock and pre-funded warrants 0 13,652,663
Exercise of options and warrants 0 86,757
Net cash provided by financing activities (9,346) 13,739,420
Net increase (decrease) in cash and cash equivalents (2,145,998) 11,760,575
Cash and cash equivalents at beginning of period 15,842,850 8,474,835
Cash and cash equivalents at end of period $ 13,696,852 $ 20,235,410