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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (2,669,349) $ (1,846,352)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 28,837 29,895
Realized loss on marketable securities 60,143
Unrealized loss on marketable securities 28,522
Share-based compensation 232,291 217,008
Bad debts 141,772 44,476
ROU asset amortization 146,315 146,618
Change in assets and liabilities:    
Royalty receivables 100,266 (277,819)
Prepaid expenses and other assets (30,542) (36,420)
Accounts payable and accrued expenses (10,387) 56,156
Operating lease liability (182,091) (166,377)
Net cash used in operating activities (2,182,745) (1,804,293)
Cash flows from investing activities:    
Purchases of fixed assets (1,271) (1,077)
Purchases of marketable securities (3,433,633)
Sales of marketable securities 2,694,968 650,000
Net cash used in investing activities 2,693,697 (2,784,710)
Cash flows from financing activities:    
Net proceeds from exercise of options and warrants 86,262
Proceeds from issuance of common stock and warrants 3,450,000
Net cash provided by financing activities 3,450,000 86,262
Net increase (decrease) in cash and cash equivalents 3,960,952 (4,502,741)
Cash and cash equivalents at beginning of year 269,964 4,772,705
Cash and cash equivalents at end of year $ 4,230,916 $ 269,964