Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.23.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net loss $ (2,124,902) $ (1,969,628)
Adjustments required to reconcile net loss to net cash used in operating activities:    
Amortization 903 903
Stock-based compensation 594,522 165,267
Changes in operating assets and liabilities:    
Unreimbursed expenses (accrued) (27,330) (144,004)
Net cash used in operating activities (1,556,807) (1,947,462)
Financing activities:    
Repurchase of common stock via stock buy back program, net of costs (5,513,711)
Net cash provided by (used in) financing activities (5,513,711)
Net increase (decrease) in cash (1,556,807) (7,461,173)
Cash, beginning of period 13,468,026 27,204,269
Cash, end of period $ 11,911,219 $ 19,743,096