Decorative
Decorative
Decorative Decorative

Cash Flow

v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net loss $ (33,224,854) $ (9,589,960)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 95,880 83,466
Stock-based compensation expense 394,657 425,846
Change in fair value of derivative liability (3) (59,406)
Amortization of debt discount 102,400 480,466
Estimate for legal contingency 7,009 0
Loss from divestiture of asset 307,086 0
Debt conversion inducement expense 1,383,285 0
Accrued interest conversion expense (15,952) 0
Cost to acquire IPR&D asset 21,215,214 0
Foreign currency remeasurement gain (45,350) 0
Changes in assets and liabilities:    
Prepaid expenses 782,265 121,277
Prepaid expenses - related party 0 13,432
Other current assets (236,779) (86,989)
Other current assets - related party 0 (22,542)
Accounts payable (112,021) 370,136
Accounts payable - related parties (113,601) 118,086
Accrued interest - related party 60,274 130,823
Accrued payroll liabilities (11,904) 99,533
Operating lease liability (60,647) (60,489)
Other current liabilities (570,473) 1,381
Other current liabilities - related parties (95,850) 102,390
Net cash used in operating activities (10,107,460) (7,872,550)
Cash flows from investing activities:    
Proceeds from asset sale, net of legal expenses 5,532,266 0
Asset acquisition costs 0 (436,554)
Purchase of property and equipment (5,533) (15,556)
Cash acquired in asset acquisition 1,076,740 0
Net cash provided by (used in) investing activities 6,603,473 (452,110)
Cash flows from financing activities:    
Financing costs allocated to warrants issued with convertible debt (6,026) 0
Repayment of insurance premium loan payable (236,681) (244,922)
Net cash provided by (used in) financing activities 16,465,924 (242,955)
Net increase (decrease) in cash and restricted cash 12,961,937 (8,567,615)
Cash, cash equivalents and restricted cash, beginning of period 1,249,107 8,987,578
Cash, cash equivalents and restricted cash, end of period 14,211,044 419,963
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 5,126,245 415,389
Restricted cash 9,084,799 4,574
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 14,211,044 419,963
Cash paid during the period for:    
Interest 135,917 4,275
Income taxes 3,600 5,141
Supplemental disclosures of non-cash financing activities:    
Common stock warrant exercises 282,905 0
Conversion of multi-draw credit agreement 1,565,470 0
Conversion of accrued interest due to related party 31,766 0
Purchases of property and equipment in other current liabilities 0 951,890
Financing of insurance premium 203,884 275,537
Release of share liability to additional paid-in-capital 0 13,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 241,134 0
Stock issued for assets 20,532,846 0
Purchases of property and equipment in other current liabilities 0 10,455
Prefunded Warrants    
Cash flows from financing activities:    
Proceeds from pre-funded warrant exercises 0 1,967
Common Stock Warrants    
Cash flows from financing activities:    
Proceeds from convertible note - related party 4,973,684 0
Proceeds from pre-funded warrant exercises $ 11,734,947 $ 0

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