v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net loss $ (5,476,627) $ (8,472,005)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 251,941 263,207
Amortization of operating lease right-of-use assets 56,325 58,866
Stock-based compensation 451,374 411,220
Gain on change in fair value of warrant liability (20,038) 18,922
Changes in operating assets and liabilities:    
Prepaid expenses 88,599 (572,917)
Accounts receivable (77,256) 106,325
Other current assets 87,376 (109,978)
Accounts payable and accrued liabilities 372,042 11,755
Management and directors' fees payable 24,306 621
Right-of-use assets operating leases liabilities (56,060) (58,400)
Net Cash Used In Operating Activities (4,298,018) (8,342,384)
Investing Activities    
Purchases of property and equipment (1,808) (28,809)
Purchase of License 0 (50,000)
Net Cash Used In Investing Activities (1,808) (78,809)
Financing Activities    
Net proceeds from issuances of common stock 2,384,654 15,733
Tax withholdings paid related to stock-based compensation (24,411) (3,062)
Proceeds from long-term debt 1,570,176 0
Payments on long-term debt (251,759) (210,183)
Payments on finance lease obligations (11,580) (11,886)
Net Cash Provided By (Used In) Financing Activities 3,667,080 (209,398)
Effect of foreign exchange on cash (31,341) (327,229)
Net change in cash and cash equivalents (664,087) (8,957,820)
Cash and cash equivalents - Beginning of the Period 3,264,429 20,729,983
Cash and cash equivalents - End of the Period 2,600,342 11,772,163
Supplemental Disclosures of Cash Flow Information    
Interest paid 96,669 77,233
Non-Cash Financing Activities    
Common stock issued upon settlement of vested RSUs 98 197
Offering costs from issuance of common stock 134,329 0
Common stock issued for License rights 0 125,258
Non-cash note payable $ 292,470 $ 294,603

Source

10-Q PDF
XBRL