Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

v3.22.2.2
Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net loss $ (2,715,701) $ (1,346,753)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Amortization 1,806 1,806
Stock-based compensation 389,770 330,102
Changes in operating assets and liabilities:    
Accounts payable (120,000)
Accrued interest 36,606
Unreimbursed expenses (accrued) (156,038) (34,350)
Net cash used in operating activities (2,480,163) (1,132,589)
Financing activities:    
Proceeds from sale of common stock 2,548,000
Repurchase of common stock via stock buy back program, net of costs (7,536,216)
Repayment to related party/shareholder (275,154)
Net cash provided by (used in) financing activities (7,536,216) 2,272,846
Net increase (decrease) in cash (10,016,379) 1,140,257
Cash, beginning of period 27,204,269 28,660,375
Cash, end of period $ 17,187,890 $ 29,800,632