v3.26.1
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (6,300,540) $ (4,697,024)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock options issued for services 331,530 749,042
Amortization of deferred compensation 43,266 230,150
Restricted stock units issued for services 1,342,733
Cashless option exercise 20,500
Common stock issued for commitment shares 8,029
Depreciation and amortization of patents 496,358 454,960
Amortization of right of use asset 53,577 50,043
(Gain) loss on disposal of property and equipment and intangible assets 36,409 (28,800)
(Increase) decrease in assets    
Accounts receivable (25,000) 26,815
Prepaid expenses and other current assets (582,353) (86,608)
(Decrease) increase in liabilities    
Accounts payable 301,777 41,511
Accrued bonuses and accrued expenses 347,951 (271,457)
Accounts payable and accrued expenses-related parties (56,250) 56,945
Contract liability (4,166) (4,167)
Operating lease liability (46,471) (40,070)
Net cash used in operating activities (4,061,179) (3,490,131)
CASH FLOWS FROM INVESTING ACTIVITIES    
Cost of intangibles (170,944) (45,878)
Purchase of property and equipment (450,466) (853,544)
Net cash used in investing activities (621,410) (899,422)
CASH FLOWS FROM FINANCING ACTIVITIES    
Exercise of options 1,862,119 163,500
Tax payment on net issuance of vested restricted stock units (2,088,366)
Tax payment on net issuance of performance stock units (481,103)
Issuance of common stock, institutional investor 1,486,983
Issuance of common stock to investment bank 4,930,928
Common stock sales at the market by investment banking company 6,544,407 116,435
Net cash provided by financing activities 10,767,985 1,766,918
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 6,085,396 (2,622,635)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 69,017,354 27,667,964
CASH AND CASH EQUIVALENTS - END OF PERIOD 75,102,750 25,045,329
Supplemental Disclosure of Non-cash activities:     
Options issued to settle accrued bonuses 48,068
Trade-in credit for purchase of property and equipment 28,800
Restricted stock awards issued for services $ 30,000