Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CONSOLIDATED STATEMENTS OF CASH FLOWS    
Net Loss $ (7,835,665) $ (14,417,266)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Common stock issued for services 254,994 17,000
Stock-based compensation 826,493 53,341
Patent write-off and impairment loss 0 1,169,645
Amortization of patents 0 100,117
Changes in operating working capital items:    
Other receivable from joint venture 0 400,000
Prepaid expenses and other current assets 59,008 (125,089)
Accounts payable and accrued liabilities (140,919) 31,831
Accrued legal settlement costs (4,200,000) 4,200,000
Net Cash Used in Operating Activities (11,036,089) (8,570,421)
Investing Activities    
Trademarks (16,021) (210,436)
Net Cash Used in Investing Activities (16,021) (210,436)
Financing Activities    
Net proceeds from the issuances of common stock 14,821,354 12,328,520
Net proceeds from the exercise of stock options $ 270,857 $ 25,013
Payments for taxes related to net share settlement of equity awards (824,153) 0
Net Cash Provided by Financing Activities $ 14,268,058 $ 12,353,533
Net Increase in Cash and Cash Equivalents 3,215,948 3,572,676
Cash and Cash Equivalents, Beginning of Year 21,531,665 17,958,989
Cash and Cash Equivalents, End of Year 24,747,613 21,531,665
Cash paid during the year:    
Interest paid 0 0
Income taxes paid 0 0
Non-Cash Financing Activities:    
Accumulated preferred stock dividend 691,711 735,149
Exchanges of preferred stock Series A and B to common stock $ 3,366 $ 0
Payment of accrued liabilities with common stock 69,690 17,000