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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net loss $ (2,009,596) $ (956,444)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 306,478 330,639
Amortization of held-to-maturity securities, net (3,828) (8,597)
Amortization of debt issuance costs 3,125 0
Gain from the sale of investment in Alphazyme (60,977) (989,319)
Foreign currency exchange loss (gain), net 4,903 11,021
Changes in operating assets and liabilities:    
Interest receivable (5,144) 28,207
Accounts receivable 216,383 (413,991)
Prepaid expenses and other current assets 85,657 107,610
Operating lease assets and liabilities 436 0
Accounts payable 5,201 (526,556)
Accrued expenses 271,144 250,146
Deferred research and development obligation 43,905 24,464
Deferred license revenue 0 (44,118)
Net cash used in operating activities (1,112,979) (2,186,938)
Cash flows from investing activities    
Purchases of held-to-maturity investment securities (1,615,884) (719,767)
Proceeds from maturities of investment securities 900,000 2,213,000
Proceeds from the sale of investment in Alphazyme 60,977 1,274,007
Net cash (used in) provided by investing activities (654,907) 2,767,240
Cash flows from financing activities    
Net cash provided by financing activities 5,824,326 0
Effect of exchange rate changes on cash (1,654) (484)
Net increase in cash and cash equivalents 4,054,786 579,818
Cash and cash equivalents at beginning of period 6,515,028 5,794,272
Cash and cash equivalents at end of period 10,569,814 6,374,090
Supplemental cash flow information    
Vesting of restricted stock units 340,335 342,186
Nonrelated Party [Member]    
Changes in operating assets and liabilities:    
Accrued interest 19,556 0
Cash flows from financing activities    
Proceeds from issuance of convertible notes, net of issuance costs 3,882,884 0
Related Party [Member]    
Changes in operating assets and liabilities:    
Accrued interest 9,778 0
Cash flows from financing activities    
Proceeds from issuance of convertible notes, net of issuance costs $ 1,941,442 $ 0