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, 2022
Dec. 31, 2021
Operating Activities    
Net Loss $ (7,497,857) $ (7,835,665)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Common stock issued for services 45,000 254,994
Stock-based compensation 842,704 826,493
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (1,812) 59,008
Prepaid project costs (345,000) 0
Accounts payable and accrued liabilities 193,810 (140,919)
Accrued legal settlement costs 0 (4,200,000)
Net Cash Used in Operating Activities (6,763,155) (11,036,089)
Investing Activities    
Trademarks (6,642) (16,021)
Net Cash Used in Investing Activities (6,642) (16,021)
Financing Activities    
Net proceeds from the issuances of common stock 11,026,785 14,821,354
Net proceeds from the exercise of stock options 0 270,857
Payments for taxes related to net share settlement of equity awards (104,604) (824,153)
Net Cash Provided by Financing Activities 10,922,181 14,268,058
Net Increase in Cash and Cash Equivalents 4,152,384 3,215,948
Cash and Cash Equivalents, Beginning of Year 24,747,613 21,531,665
Cash and Cash Equivalents, End of Year 28,899,997 24,747,613
Supplemental Disclosure of Cash Flow Information    
Interest paid 0 0
Income taxes paid 0 0
Non-Cash Financing Activities:    
Accumulated preferred stock dividend 0 691,711
Exchanges of preferred stock Series A and B to common stock 0 3,366
Payment of accrued liabilities with common stock $ 15,000 $ 69,690