v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from Operating activities    
Net loss $ (7,901,424) $ (1,684,758)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation 167 0
Stock-based compensation 4,518,785 231,548
Fair value of common stock to consultants 496,300 0
Change in fair value of share liability (170,385) 0
Changes in right-of-use lease asset 32,553 37,476
Changes in operating assets and liabilities:    
Deferred offering costs 0 (154,200)
Prepaid expenses and other current assets 294,971 (321,778)
Other noncurrent assets (48,747) 0
Accounts payable (351,830) (35,716)
Accrued expenses 446,564 576,601
Lease liability (18,844) (32,722)
Net cash used in operating activities (2,701,890) (1,383,549)
Cash flows from investing activities    
Purchases of property and equipment (508,607) (1,732,595)
Net cash used in investing activities (508,607) (1,732,595)
Cash flows from financing Activities    
Proceeds from issuance of common stock and warrants 5,000,000 3,119,560
Common stock issuance costs (506,390) (255,965)
Repayment of notes payable 0 (13,046)
Net cash provided by financing activities 4,493,610 2,850,549
Net change in cash 1,283,113 (265,595)
Effect of exchange rate changes on cash (46,088) 125,285
Cash - beginning of period 2,389,140 2,953,721
Cash - end of period 3,626,165 2,813,411
Supplemental disclosures of non-cash investing and financing activities:    
Settlement of liabilities with related party 626,223 0
Share liability for non-cash issuance costs 0 124,782
Unpaid financing fees 0 0
Purchase of property and equipment included in accounts payable 318,900 855,404
Settlement of share liability $ 75,570 $ 0

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