Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows (Unaudited)

v3.23.3
Consolidated Statement of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net Loss $ (3,909,216) $ (4,305,432)
Adjustments to reconcile net loss to net cash used in operations:    
Common stock issued for services 805,129 325,719
Stock-based compensation to employees and directors 395,107 1,156,674
Amortization of debt discount 36,332 27,225
Inducement expense 397,928
Changes in operating assets and liabilities    
Decrease in prepaid expenses and other current assets 75,621 68,855
Increase in accounts payable and accrued expenses 504,126 451,329
Increase in accrued payroll and related expenses 715,054
Increase in accrued interest 7,043
Net cash used in operating activities (1,687,930) (1,560,576)
CASH FLOWS FROM FINANCING ACTIVITIES    
Deferred offering costs 35,000
Proceeds from warrant exercise 1,095,001
Proceeds from sale of common stock and warrants 814,246 925,000
Net cash provided by financing activities 1,909,247 960,000
NET INCREASE (DECREASE) IN CASH 221,317 (600,576)
CASH - Beginning of period 225,276 1,499,866
CASH - End of period 446,593 899,290
SUPPLEMENTAL CASH FLOW DISCLOSURES:    
Payment of interest in cash
Payment of income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Accrual of contractual dividends on Series A convertible preferred stock 21,600 20,420
Accrual of contractual dividends on Series B convertible preferred stock 112,861 113,276
Deemed dividend on warrant modifications 282,309 41,225
Incremental value of Series A conversion modifications 96,245
Incremental value of Series B conversion modifications 209,296
Deferred compensation for employees and consultants 1,468,510
Subscription receivable 100,000
Conversion of notes payable to common stock $ 519,712