v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Loss from operations $ (4,187,357) $ (8,934,858)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation 360,830 428,368
Amortization of intangible assets 282 282
Inducement expense 4,464,427
Change in value of equity method investment 261,820 412,343
Change in fair value contingent consideration (150,000)
Changes in operating assets and liabilities:    
Prepaid research and development (346,754)
Prepaid expenses and other current assets 144,592 182,997
Accrued expenses (137,547) (142,591)
Accrued expenses, related party (27,942)
Accounts payable 420,988 213,401
Accounts payable, related party (48,272) (24,062)
Net cash used in operating activities (3,334,664) (3,774,389)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash receipt from contingent consideration 150,000
Net cash provided by investing activities 150,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from sale of common stock 3,127,187 411,091
Proceeds from warrant exercise, net of expenses 2,221,932 3,824,264
Net cash provided by financing activities 5,349,119 4,235,355
NET INCREASE IN CASH AND CASH EQUIVALENTS 2,164,455 460,966
CASH AND CASH EQUIVALENTS-BEGINNING OF PERIOD 3,750,525 2,827,082
CASH AND CASH EQUIVALENTS-END OF PERIOD $ 5,914,980 $ 3,288,048