XML 15 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:          
Net loss $ (5,127,624) $ (7,021,722) $ (22,415,257) $ (18,502,315)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization     2,052,729 1,381,637  
Amortization on right of use asset     153,365 166,489  
Gain on sale of assets 0 0 (202,159) 0  
Amortization of debt issuance costs     3,999 444  
Accrued interest on Convertible Notes     629,041 70,000  
Realized and unrealized gain on marketable securities     (110,914) (3,295)  
Provision for doubtful accounts     142,846 89,130  
Stock-based compensation expense     11,634,022 6,245,679  
Change in fair value of warrant liability (8,539) (251,778) (343,155) (746,605)  
Unrealized foreign currency related (gains) and losses     14,803 (15,030)  
Issuance of warrants in connection with transaction expenses     0 389,976 $ 389,976
Change in operating assets and liabilities:          
Accounts receivable     (1,761,038) (1,757,660)  
Contract assets     (921,290) (147,651)  
Prepaid expenses     (187,703) (576,836)  
Changes in lease liabilities during the period     (148,378) (186,383)  
Deposits and other assets     504,052 (120,732)  
Accounts payable     (228,151) (234,152)  
Accrued expenses     481,159 559,770  
Deferred revenues     1,708,759 202,337  
Net cash used in operating activities     (8,993,270) (13,185,197)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Additions to property and equipment     (1,695,937) (640,080)  
Proceeds from sale of assets     225,575 0  
Purchase of marketable securities     (42,929,102) (24,903,107)  
Sale of marketable securities     36,392,416 24,009,003  
Cash acquired as part of business combination     0 1,310,977  
Net cash used in investing activities     (8,007,048) (223,207)  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from exercise of MOR Class B options     0 292,830  
Payments on notes payable and financing arrangements     (13,122) (5,551)  
Payment of employee withholding tax related to restricted stock units     (58,085) 0  
Proceeds from exercise of common stock options     0 48,570  
Proceeds from sale of common stock     0 11,968,652  
Proceeds from the issuance of convertible notes payable     0 23,978,670  
Net cash (used in) provided by financing activities     (71,207) 36,283,171  
Effect of foreign exchange rate changes on cash     (6,686) (5,132)  
Net change in cash     (17,078,211) 22,869,635  
Cash and cash equivalents, beginning of period     18,663,805 665,463 665,463
Cash and cash equivalents, end of period $ 1,585,594 $ 23,535,098 1,585,594 23,535,098 $ 18,663,805
Supplemental disclosure of cash flow information:          
Cash paid for interest     0 724  
Cash paid for taxes     2,550 0  
Non-cash Investing Activities:          
Non-cash consideration for Helix acquisition     $ 0 $ 18,454,784