v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net loss $ (8,591,426) $ (6,182,154)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 312,280 327,381
Stock-based compensation 545,039 541,349
Accretion of discount on note payable 15,353
Amortization of debt issue costs 155,135
Changes in operating assets and liabilities:    
Other receivables 6,740 12,375
Prepaid expenses and other current assets (879,743) (6,682)
Operating lease right-of-use assets (1,348,209) 128,662
Trade accounts payable and accrued expenses (935,266) (5,137,926)
Current portion of operating lease liability 92,971 (40,742)
Long-term portion of operating lease liability 1,223,587 (130,663)
Net cash used in operating activities (9,403,539) (10,488,400)
Investing activities:    
Purchase of property and equipment (5,925) (154,133)
Net cash used in investing activities (5,925) (154,133)
Financing activities:    
Proceeds from the issuance of common stock and pre-funded common stock purchase warrants, net of fees 6,102,756 10,979,443
Principal payments on finance lease obligations (4,430) (8,398)
Net cash provided by financing activities 6,098,326 10,971,045
Cash and cash equivalents:    
Net increase (decrease) in cash and cash equivalents (3,311,138) 328,512
Cash and cash equivalents at beginning of year 12,211,321 52,416
Cash and cash equivalents at end of period 8,900,183 380,928
Property and equipment accrued but not yet paid at end of period 220,370
Cash payments:    
Interest paid $ 16,250 $ 5,975