v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities    
Net loss $ (8,472,005) $ (8,872,909)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 263,207 271,990
Amortization of operating lease right-of-use assets 58,866 62,585
Stock-based compensation 411,220 693,657
Loss on change in fair value of warrant liability 18,922 0
Changes in operating assets and liabilities:    
Prepaid expenses (572,917) (253,447)
Accounts receivable 106,325 (118,592)
Other current assets (109,978) (269,344)
Accounts payable and accrued liabilities 11,755 (206,562)
Management and directors' fees payable 621 9,019
Right-of-use assets operating leases liabilities (58,400) (61,141)
Net Cash Used In Operating Activities (8,342,384) (8,744,744)
Investing Activities    
Purchases of property and equipment (28,809) (200,592)
Purchase of License (50,000) 0
Net Cash Used In Investing Activities (78,809) (200,592)
Financing Activities    
Net proceeds from issuances of common stock 15,733 8,427,655
Tax withholdings paid related to stock-based compensation (3,062) (14,336)
Common stock repurchased 0 (31,772)
Payments on long-term debt (210,183) (223,340)
Payments on finance lease obligations (11,886) (11,445)
Net Cash (Used In) Provided By Financing Activities (209,398) 8,146,762
Effect of foreign exchange on cash (327,229) (57,598)
Net change in cash and cash equivalents (8,957,820) (856,172)
Cash and cash equivalents - beginning of the period 20,729,983 10,867,050
Cash and cash equivalents - End of Period 11,772,163 10,010,878
Supplemental Disclosures of Cash Flow Information    
Interest paid 77,233 51,322
Non-Cash Financing Activities    
Common stock issued upon cashless exercises of stock options and settlement of vested RSUs 197 27
Offering costs from issuance of common stock 0 195,892
Common stock issued for License rights 125,258 0
Non-cash note payable $ 294,603 $ 356,258

Source

10-Q PDF
XBRL