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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Net loss $ (2,223,255) $ (7,172,572)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 42,713 39,351
Dividend and interest income (151,596) (63,940)
Stock-based compensation 2,028,374 3,378,495
Non-cash lease expense 36,062 29,011
Gain on exchange of warrants (1,711,698)
Change in fair value of derivative liabilities 137,319 1,488,350
Changes in operating assets and liabilities:    
Accounts receivable (15,700)
Prepaid expenses and other current assets (60,142) (69,281)
Accounts payable 41,513 (78,316)
Accrued expenses and other current liabilities (402,589) 102,913
Lease liability (38,781) (33,288)
Net Cash Used In Operating Activities (2,317,780) (2,379,277)
Cash Flows From Investing Activities:    
Sale of marketable securities 5,800,000 4,066,501
Purchase of marketable securities (10,728,006) (1,467,310)
Purchases of equipment (60,022)
Net Cash (Used In) Provided By Investing Activities (4,928,006) 2,539,169
Cash Flows From Financing Activities:    
Proceeds from exchange and issuance of warrants, net [1] 7,528,027
Deferred offering costs (9,538)
Net Cash Provided By Financing Activities 7,518,489
Net Increase In Cash and Cash Equivalents 272,703 159,892
Cash and Cash Equivalents - Beginning of the Period 884,377 1,676,577
Cash and Cash Equivalents - End of the Period 1,157,080 1,836,469
Supplemental Disclosures of Cash Flow Information:    
Interest
Income taxes
Non-cash investing and financing activities:    
Accrued purchases of equipment 29,246
Return and cancellation of shares in lieu of payroll tax withholding $ 48,410 $ 39,308
[1] Includes gross proceeds of $8,123,391, less issuance costs of $595,364.