Decorative
Decorative
Decorative Decorative

Cash Flow

v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net Loss $ (2,160,517) $ (2,341,660)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 938 365
Stock-based compensation expense 146,580 64,142
Change in fair value of derivative liabilities 238,350 (35,903)
Amortization of debt discount 141,490 130,710
Changes in assets and liabilities:    
Prepaid expenses and other current assets (34,199) 57,290
Accounts payable 135,514 807,457
Accounts payable to related party (7,032) 30,903
Accrued interest due to related party (958) 35,645
Accrued payroll liabilities 70,448 (24,546)
Other current liabilities 121,298 9,484
Net cash used in operating activities (1,348,088) (1,266,113)
Cash flows from investing activities:    
Purchase of property and equipment (10,696) 0
Net cash used in investing activities (10,696) 0
Cash flows from financing activities:    
Proceeds from common stock warrant exercises 4,030,000 0
Proceeds from pre-funded warrant exercises 11,800 0
Net cash provided by financing activities 4,041,800 0
Net increase (decrease) in cash and restricted cash 2,683,016 (1,266,113)
Cash and restricted cash, beginning of period 2,473,976 1,834,515
Cash and restricted cash, end of period 5,156,992 568,402
Reconciliation of cash and restricted cash:    
Total cash and restricted cash shown in the consolidated statements of cash flows 5,156,992 568,402
Cash paid during the period for:    
Interest 44,087 0
Supplemental disclosures of non-cash financing activities:    
Reclassification of warrant liabilities to equity from exercise of warrants $ 0 $ 26,563

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