v3.23.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Net loss $ (31,607,956) $ (12,768,238)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation, amortization and impairment 6,677 19,183
Loss on impairment of goodwill 8,865,909 0
Equity-based compensation expense 796,803 559,044
Change in fair value of warrant liability (14,454) (44,693)
In-process research and development technology 1,987,900 0
Changes in operating assets and liabilities:    
Grants receivable 0 2,245,506
Prepaid expenses and other current assets 202,538 (70,470)
Accounts payable 1,312,735 (310,660)
Accrued expenses and other current liabilities 854,527 170,131
Net cash (used in) operating activities (17,595,321) (10,200,197)
Investing activities    
Purchase in-process research and development technology (1,500,000) 0
Net cash used in investing activities (1,500,000) 0
Financing activities    
Proceeds from issuance of equity securities 1,987,376 27,287,638
Proceeds from warrants exercised for cash 0 1,485,353
Payments on note payable 0 (477,028)
Net cash provided by financing activities 1,987,376 28,295,963
Net (decrease) increase in cash, cash equivalents and restricted cash (17,107,945) 18,095,766
Cash, cash equivalents and restricted cash at beginning of period 29,214,380 11,118,614
Cash, cash equivalents and restricted cash at end of period 12,106,435 29,214,380
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 1,468
Non-cash investing and financing activities:    
Common stock issued for in-process research and development technology 487,900 0
Accrued cost for shares issued for cash $ 2,500