v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net Loss $ (28,728,191) $ (12,922,347)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 364,445 57,350
Stock-based compensation expense 4,235,018 4,306,653
Amortization of debt discount 0 487,527
Gain on sale of asset (89,363) (1,145,141)
Write-down of vendor deposits 0 246,000
Loss from disposal of assets 0 10,794
Changes in assets and liabilities:    
Prepaid expenses (1,061,850) (901,780)
Other current assets 1,476,121 (1,833,439)
Accounts payable 2,584,507 (76,292)
Accrued payroll liabilities (246,231) (331,808)
Operating lease liability (88,050) (34,196)
Other current liabilities 1,621,927 186,243
Net cash used in operating activities (19,931,667) (11,801,659)
Cash flows from investing activities:    
Proceeds from the sale of assets, net of sales costs 89,363 1,145,141
Purchase of short-term investments (24,747,039) 0
Purchase of property and equipment (6,312) (35,644)
Net cash (used in) provided by investing activities (24,663,988) 1,109,497
Cash flows from financing activities:    
Purchase under employee stock purchase plan 18,158 0
Proceeds from the issuance of common stock and warrants, net of equity issuance costs of $0 and $6,434,447, respectively 0 83,556,563
Net cash provided by financing activities 18,158 83,556,563
Net (decrease) increase in cash, cash equivalents and restricted cash (44,577,497) 72,864,401
Cash, cash equivalents and restricted cash, beginning of period 68,415,741 10,336,655
Cash, cash equivalents and restricted cash, end of period 23,838,244 83,201,056
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalent 23,838,244 74,120,854
Restricted cash 0 9,080,202
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 23,838,244 83,201,056
Related Party    
Changes in assets and liabilities:    
Accrued interest - legal contingency 0 (1,369)
Nonrelated Party    
Changes in assets and liabilities:    
Accrued interest - legal contingency $ 0 $ 150,146

Source

10-Q XBRL Zip