v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities        
Net loss $ (2,123,884) $ (1,793,774) $ (4,078,567) $ (3,821,353)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense 144,372 340,462 283,671 565,492
Amortization of held-to-maturity securities, net     (8,422) (15,996)
Amortization of debt issuance costs     14,966 23,794
Foreign currency exchange (gain) loss, net 8,693 16,098 (898) 23,170
Changes in operating assets and liabilities:        
Interest receivable     19,115 (10,488)
Accounts receivable     (217,922) (471,860)
Prepaid expenses and other current assets     (199,819) 218,050
Operating lease assets and liabilities     (883) 11
Accounts payable     (28,437) 224,080
Accrued expenses     602,510 191,009
Accrued interest - related party     (5,373)
Deferred research and development obligation     (166,680) 999,718
Net cash used in operating activities     (3,781,366) (2,079,746)
Cash flows from investing activities        
Purchases of held-to-maturity investment securities     (1,293,431) (4,560,278)
Proceeds from maturities of investment securities     2,202,743 4,080,762
Net cash provided/(used in) investing activities     909,312 (479,516)
Cash flows from financing activities        
Proceeds from exercise of stock     24,249
Net cash provided by financing activities     24,249
Effect of exchange rate changes on cash     (432) 2,693
Net decrease in cash, cash equivalents, and restricted cash     (2,872,486) (2,532,320)
Cash, cash equivalents, and restricted cash at beginning of period     5,853,499 6,506,750
Cash, cash equivalents, and restricted cash at end of period 2,981,013 3,974,430 2,981,013 3,974,430
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets        
Cash and cash equivalents 1,425,364 2,140,899 1,425,364 2,140,899
Restricted cash 1,555,649 1,833,531 1,555,649 1,833,531
Total cash, cash equivalents, and restricted cash 2,981,013 3,974,430 2,981,013 3,974,430
Supplemental cash flow information        
Vesting of restricted stock units     171,242 269,100
Cash paid for interest $ 101,800 $ 101,800 $ 203,600 $ 208,973