XML 21 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net loss $ (2,070,661) $ (325,781)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 1,300 1,232
Stock-based compensation 19,332 41,721
Changes in assets and liabilities:    
Prepaid expenses 144,546 (57,309)
Receivable from related parties (11,991) (5,056)
Prepaid expenses, long-term (129,454) 46,233
Deposit (87,638)
Accrued expenses 896,659
Accounts payable 351,816 42,412
Net cash used in operating activities (886,091) (256,548)
Cash flows from investing activities    
Purchase of property and equipment (5,197)
Net cash used in investing activities (5,197)
Cash flows from financing activities    
Payment of deferred offering costs (5,000)
Proceeds from issuance of common stock in initial public offering, net of underwriting discount 18,400,000
Payments of initial public offering costs (822,937)
Net cash provided by financing activities 17,572,063
Net increase (decrease) in cash 16,680,775 (256,548)
Cash, beginning of period 1,928,474 4,308,821
Cash, end of period 18,609,249 4,052,273
Noncash investing and financing activities:    
Deferred offering costs included in accounts payable and accrued expenses 233,804
Conversion of convertible preferred stock to common stock upon initial public offering 45
Initial public offering costs included in accounts payable $ 104,035