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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (4,054,819) $ (3,109,404)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 604,081 664,955
Amortization of held-to-maturity securities, net (27,699) (25,889)
Amortization of debt issuance costs 26,717 0
Gain from the sale of investment in Alphazyme (60,977) (1,017,592)
Foreign currency exchange loss (gain), net 8,049 25,543
Changes in operating assets and liabilities:    
Interest receivable (18,077) 22,232
Accounts receivable 210,725 (429,790)
Prepaid expenses and other current assets 201,073 256,484
Operating lease assets and liabilities 870 0
Accounts payable (224,307) (404,801)
Accrued expenses 152,800 296,587
Deferred research and development obligation (7,790) (31,743)
Deferred license revenue 0 (88,236)
Net cash used in operating activities (3,077,354) (3,841,654)
Cash flows from investing activities    
Purchases of held-to-maturity investment securities (4,734,528) (1,977,166)
Proceeds from maturities of investment securities 1,546,000 4,563,000
Proceeds from the sale of investment in Alphazyme 60,977 1,302,524
Net cash (used in) provided by investing activities (3,127,551) 3,888,358
Cash flows from financing activities    
Net cash provided by financing activities 5,824,326 0
Effect of exchange rate changes on cash (1,051) 615
Net (decrease) increase in cash and cash equivalents (381,630) 47,319
Cash and cash equivalents at beginning of period 6,515,028 5,794,272
Cash and cash equivalents at end of period 6,133,398 5,841,591
Supplemental cash flow information    
Vesting of restricted stock units 439,085 342,186
Conversion of convertible notes 400,000 0
Cash paid for interest 34,844 0
Nonrelated Party [Member]    
Changes in operating assets and liabilities:    
Accrued interest 80,000 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 32,000 0
Cash flows from financing activities    
Proceeds from issuance of convertible notes, net of issuance costs $ 1,941,442 $ 0