v3.21.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (16,541,695) $ (7,911,691)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 38,539 38,316
Stock-based compensation 5,961,543 2,466,312
Provision for losses on accounts receivable 50,079 0
Changes in operating assets and liabilities:    
Accounts receivable (42,328) 25,431
Insurance deposits 654,454 (749,454)
Lease deposit and other current assets 103,557 155,862
Accounts payable 838,775 443,372
Accrued liabilities 1,267,927 (17,112)
Insurance reserve (122,557) 26,426
Deferred revenues (12,991) (10,564)
Net cash used in operating activities (7,804,697) (5,533,102)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Net cash used in investing activities 0 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from sale of common stock 29,727,500 0
Offering costs associated with public offering (2,126,305)
Proceeds from exercise of stock options 114,896 33,825
Proceeds from note payable 0 2,004,175
Principal repayment on note payable 0 (5,000)
Proceeds from exercise of warrants 64,540 0
Net cash provided by financing activities 27,780,631 2,033,000
Increase (decrease) in cash, cash equivalents and restricted cash 19,975,934 (3,500,102)
Cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash - beginning of period 4,923,515 10,657,140
Cash, cash equivalents and restricted cash - end of period 24,899,449 7,157,038
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets    
Cash and cash equivalents 24,021,863 7,157,038
Restricted cash 877,586 0
Total cash, and cash equivalents and restricted cash to the consolidated balance sheets 24,899,449 7,157,038
Supplemental disclosures of cash flow information:    
Interest expense 0 19
Income taxes $ 800 $ 8,500