v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net loss $ (21,400,758) $ (26,877,374)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 817,542 855,947
Amortization of operating lease right-of-use assets 169,273 194,036
Loss on disposal of fixed assets 34,693 15,913
Stock-based compensation 942,805 1,823,811
Gain on change in fair value of warrant liability (30,424) (249,845)
Changes in operating assets and liabilities:    
Prepaid expenses (168,625) (2,402)
Accounts receivable (69,992) (34,441)
Other current assets (24,064) (45,785)
Deferred revenue, current and non-current (106,600) 0
Accounts payable and accrued liabilities (416,167) 12,128
Management and directors' fees payable (34,774) (11,137)
Right-of-use assets operating leases liabilities (174,758) (191,586)
Net Cash Used In Operating Activities (20,461,849) (24,510,735)
Investing Activities    
Purchases of property and equipment (204,898) (775,027)
Purchase of License (171,095) 0
Net Cash Used In Investing Activities (375,993) (775,027)
Financing Activities    
Net proceeds from issuances of common stock 6,565,422 25,795,654
Tax withholdings paid related to stock-based compensation (57,127) (80,231)
Common stock repurchased 0 (31,772)
Proceeds from grants repayable 0 27,052
Proceeds from long-term debt 754,457 216,908
Payments on long-term debt (831,542) (680,325)
Payments on grants repayable (28,213) 0
Payments on finance lease obligations (35,621) (35,071)
Net Cash Provided By Financing Activities 6,367,376 25,212,215
Effect of foreign exchange on cash (845,371) 15,244
Net change in cash and cash equivalents (15,315,837) (58,303)
Cash and cash equivalents - beginning of the period 20,729,983 10,867,050
Cash and cash equivalents - End of Period 5,414,146 10,808,747
Supplemental Disclosures of Cash Flow Information    
Interest paid 247,871 163,623
Non-Cash Financing Activities    
Common stock issued upon cashless exercises of stock options and settlement of vested RSUs 578 308
Offering costs from issuance of common stock 245,107 239,772
Fair value of warrants issued in connection with public offering 0 366,960
Common stock issued for License rights 125,258 0
Non-cash note payable $ 294,603 $ 356,258

Source

10-Q PDF
XBRL