Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.21.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net loss $ (2,637,068) $ (547,440)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 591,124 139,758
Non-cash consulting fees 60,391 37,500
Non-cash PPP loan forgiveness (27,550)  
Warrant expense 237,768 190,993
Changes in operating assets and liabilities:    
Grants receivable (332,774)  
Prepaid expenses and other assets 200,581 3,043
Prepaid research and development 61,682  
Accounts payable (1,008,447) (255,922)
Accrued expenses and other current liabilities (5,535) 133,684
Deferred revenue (1,074,392) 42,952
Net cash used in operating activities (3,934,220) (255,432)
Financing activities    
Proceeds from notes payable   245,250
Proceeds from issuance of common stock   4,870
Repayments of note payable (409,662)  
Net cash provided by (used in) financing activities (409,662) 250,120
Net decrease in cash (4,343,882) (5,312)
Cash at beginning of period 13,953,513 18,457
Cash at end of period 9,609,631 13,145
Supplemental disclosures of cash flow information    
Cash paid for interest 11,797 1,772
Non-cash financing activities    
Notes payable settled with new notes payable   98,419
Insurance premium financing 1,361,916  
PPP loan forgiveness 27,550  
Public offering costs $ 2,783 $ 7,759