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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net Loss $ (11,103,319) $ (5,019,531)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 177,379 27,560
Stock-based compensation expense 2,201,909 2,478,179
Amortization of debt discount 0 237,205
Gain on sale of asset 0 (1,145,141)
Changes in assets and liabilities:    
Prepaid expenses (373,420) (446,277)
Other current assets (1,018,906) (386,513)
Accounts payable 1,215,779 (60,652)
Accrued interest - legal contingency 0 75,073
Accrued payroll liabilities (458,124) (534,919)
Operating lease liability (43,479) (16,780)
Other current liabilities 216,701 83,673
Net cash used in operating activities (9,185,480) (4,708,123)
Cash flows from investing activities:    
Proceeds from the sale of assets, net of sales costs 0 1,145,141
Purchase of short-term investments (12,802,650) 0
Purchase of property and equipment (6,312) (3,181)
Net cash (used in) provided by investing activities (12,808,962) 1,141,960
Cash flows from financing activities:    
Proceeds from the issuance of common stock and warrants, net of equity issuance costs of $0 and $4,338,393, respectively 0 85,652,617
Net cash provided by financing activities 0 85,652,617
Net (decrease) increase in cash, cash equivalents and restricted cash (21,994,442) 82,086,454
Cash, cash equivalents and restricted cash, beginning of period 68,415,741 10,336,655
Cash, cash equivalents and restricted cash, end of period 46,421,299 92,423,109
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalent 46,421,299 83,342,907
Restricted cash 0 9,080,202
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows 46,421,299 92,423,109
Supplemental disclosures of non-cash financing activities:    
Accrued financing charges $ 0 $ 2,096,054

Source

10-Q XBRL Zip