v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating Activities    
Net Loss $ (8,872,909) $ (7,718,007)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 271,990 224,310
Amortization of operating lease right-of-use assets 62,585 65,361
Stock-based compensation 693,657 915,031
Changes in operating assets and liabilities:    
Prepaid expenses (253,447) (664,782)
Accounts receivable (118,592) (59,861)
Other current assets (269,344) (102,185)
Deferred revenue, current and non-current 0 10,000,000
Accounts payable and accrued liabilities (206,562) 981,786
Management and directors' fees payable 9,019 25,750
Right-of-use assets operating leases liabilities (61,141) (57,008)
Net Cash (Used In) / Provided by Operating Activities (8,744,744) 3,610,395
Investing Activities    
Purchases of property and equipment (200,592) (124,648)
Net Cash Used In Investing Activities (200,592) (124,648)
Financing Activities    
Net proceeds from issuances of common stock 8,427,655 9,467
Tax withholdings paid related to stock-based compensation (14,336) 0
Common stock repurchased (31,772) 0
Payments on long-term debt (223,340) (250,711)
Payments on finance lease obligations (11,445) (13,133)
Net Cash Provided By (Used In) Financing Activities 8,146,762 (254,377)
Effect of foreign exchange on cash (57,598) (80,304)
Net Change in Cash and Cash Equivalents (856,172) 3,151,066
Cash and cash equivalents - Beginning of Period 10,867,050 20,581,313
Cash and cash equivalents - End of Period 10,010,878 23,732,379
Supplemental Disclosures of Cash Flow Information    
Interest paid 51,322 41,009
Non-Cash Financing Activities    
Common stock issued on cashless exercises of stock options and settlement of vested RSUs 27 15
Offering costs from issuance of common stock 195,892 0
Non-cash note payable $ 356,258 $ 620,549

Source

PDF HTML 10-Q Filing
ZIP XLS HTML XBRL