Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities    
Net loss $ (5,589,701) $ (5,534,340)
Adjustments to reconcile net loss from operations to net cash used in operating activities    
Common stock issued for services 30,000 45,000
Stock-based compensation 614,367 300,583
Changes in operating working capital items    
Other receivables 0 (110,000)
Prepaid expenses and other current assets (192,467) (74,751)
Accounts payable and accrued liabilities 1,033,865 780,425
Accrued legal settlement costs 0 (4,200,000)
Net Cash Used in Operating Activities (4,103,936) (8,793,083)
Investing Activities    
Trademarks (6,174) (16,021)
Net Cash Used in Investing Activities (6,174) (16,021)
Financing Activities    
Net proceeds from issuances of common stock and exercise of stock options 10,646,998 3,411,091
Net Cash Provided by Financing Activities 10,646,998 3,411,091
Net Increase (Decrease) in Cash and Cash Equivalents 6,536,888 (5,398,013)
Cash and Cash Equivalents, Beginning of Period 24,747,613 21,531,665
Cash and Cash Equivalents, End of Period 31,284,501 16,133,652
Cash paid during the period    
Interest paid 0 0
Income taxes paid 0 0
Non-Cash Financing Activities    
Accumulated preferred stock dividend 0 575,049
Conversion of Series A convertible preferred stock to common stock and payment of paid-in-kind dividends to Series A preferred stockholder 0 39,885
Payment of accrued liabilities with common stock $ 15,000 $ 69,690