General form of registration statement for all companies including face-amount certificate companies

Condensed Statements of Cash Flows

v3.21.1
Condensed Statements of Cash Flows - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Dec. 31, 2020
Dec. 31, 2019
Operating activities        
Net loss $ (2,637,068) $ (547,440) $ (2,847,894) $ (5,722,983)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation expense 591,124 139,758 573,695 1,436,608
Non-cash consulting fees 60,391 37,500 148,795 150,000
Non-cash interest     17,260  
Non-cash PPP loan forgiveness (27,550)      
Deferred initial public offering costs       1,591,989
Warrant expense 237,768 190,993 1,443,426 574,324
Changes in operating assets and liabilities:        
Grants receivable (332,774)     472,941
Prepaid expenses and other assets 200,581 3,043 (37,913) 382,162
Prepaid research and development 61,682      
Accounts payable (1,008,447) (255,922) (247,071) 47,461
Accrued expenses and other current liabilities (5,535) 133,684 (1,076,758) (437,060)
Deferred revenue (1,074,392) 42,952 897,105 1,166,268
Net cash used in operating activities (3,934,220) (255,432) (1,129,355) (338,290)
Financing activities        
Proceeds from notes payable   245,250 272,800  
Proceeds from issuance of common stock   4,870 4,870  
Proceeds from issuance of common stock upon initial public offering, net of issuance costs     14,786,741  
Repayments of note payable (409,662)     (22,810)
Net cash provided by (used in) financing activities (409,662) 250,120 15,064,411 (22,810)
Net decrease in cash (4,343,882) (5,312) 13,935,056 (361,100)
Cash at beginning of period 13,953,513 18,457 18,457 379,557
Cash at end of period 9,609,631 13,145 13,953,513 18,457
Supplemental disclosures of cash flow information        
Cash paid for interest 11,797 1,772 6,249 9,152
Non-cash financing activities        
Notes payable settled with common stock     505,230  
Notes payable settled with new notes payable   98,419 $ 42,534 360,919
Accrued deferred initial public offering costs       $ 2,873
Insurance premium financing 1,361,916      
PPP loan forgiveness 27,550      
Public offering costs $ 2,783 $ 7,759