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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net loss $ (16,504,101) $ (2,085,554)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 46,988 42,061
(Other income), loan forgiveness (178,250)
Non-cash equity-based compensation expense 11,194,200 337,386
Change in operating assets and liabilities:    
Inventory (334,543)
Prepaid expenses and other assets (979,607) (61,335)
Right-to-use assets 44,124
Other assets (161,358)
Royalty obligation (600,000) (250,000)
Accounts payable and accrued expenses 1,269,243 212,553
Net cash used in operating activities (6,203,304) (1,804,889)
Cash flows from investing activities:    
Purchase of property and equipment (262,748)
Payment of patent costs (82,608) (86,887)
Net cash used in investing activities (345,356) (86,887)
Cash flows from financing activities:    
Proceeds from common stock issuance 23,100,000 2,579,464
Placement cost (2,556,000)
Proceeds from exercise of options 290,625
Proceeds from SBA - PPP notes payable 178,235
Proceeds from issuance of convertible notes 50,000
Dividends paid (27,876) (65,103)
Principal repayments of notes payable (1,664)
Net cash provided by financing activities 20,805,085 2,742,596
Increase in cash and cash equivalents 14,256,425 850,820
Cash and cash equivalents at beginning of period 10,426,249 2,308,871
Cash and cash equivalents at end of period 24,682,674 3,159,691
Supplementary disclosure of non-cash financing activities:    
Preferred stock conversion to common 2,844,134 50,000
Common stock issued pursuant to antidilutive provisions 4,691,022
Cashless exercise of warrants 74,375
Cash paid during the year for:    
Interest $ 183,929 $ 281,141