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Liquidity, Capital Resources
12 Months Ended
Dec. 31, 2022
Liquidity, Capital Resources  
Liquidity, Capital Resources

Note 3 – Liquidity, Capital Resources

 

As of December 31, 2022, the Company had working capital of $7,060,511 compared to working capital of $11,263,270 at December 31, 2021.  As of December 31, 2022, the Company had an accumulated deficit of $7,849,982 compared to an accumulated deficit of $3,160,015 at December 31, 2021. For the year ended December 31, 2022, the Company had a net loss of $4,689,967 and used $4,948,996 of net cash in operations for the period. For the year ended December 31, 2021, the Company had a net loss of $3,164,608 and used $1,840,950 of net cash in operations for the period.

 

The Company believes it has sufficient cash-on-hand (including its marketable securities described in Note 2 above) for the Company to meet its financial obligations as they come due at least the next 12 months from the date of the report. 

 

To the extent that the Company raises additional funds by issuing shares of its common stock or other securities convertible or exchangeable for shares of common stock, stockholders will experience dilution, which may be significant. Any or all of the foregoing may have a material adverse effect on the Company’s business and financial performance.