General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Statements of Cash Flows

v3.22.4
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:          
Net loss $ (5,203,568) $ (11,623,541) $ (9,685,477) $ (12,578,211) $ (6,959,248)
Adjustments to reconcile net loss to net cash used in operating activities:          
Stock-based compensation   1,830,536 2,108,868 2,722,893 3,888,968
Loss on extinguishment of convertible notes 2,322,943   2,322,943 2,322,943  
Gain from forgiveness of Paycheck Protection Program loan       (62,500) (62,500)
Change in fair value of embedded features 96,000   203,000 203,000 (5,000)
Change in fair value of warrant liability 100,780 (128,030) 1,546,280 1,546,280 19,600
Amortization of debt discount     596,954 596,953 19,875
Prepaid expenses and other current assets   (412,124) (1,290) (15,155) (58,084)
Australia research and development incentives receivable   (230,188)      
Other assets   322 (520,648) (3,122)  
Accounts payable   64,788 342,369 805,516 (2,304)
Accrued expenses   252,487 344,940 1,261,495 826,470
Due to related parties     (7,037) (7,037) 4,938
Accrued interest     226,909    
Deferred offering costs       (651,582)  
Other assets   322 (520,648) (3,122)  
Accounts payable   64,788 342,369 805,516 (2,304)
Accrued expenses   252,487 344,940 1,261,495 826,470
Due to related parties     (7,037) (7,037) 4,938
Deferred compensation       (264,369) 483,122
Net cash used in operating activities   (9,146,390) (2,515,658) (4,122,896) (1,844,163)
Stock-based compensation   1,830,536 2,108,868 2,722,893 3,888,968
Loss on extinguishment of convertible notes 2,322,943   2,322,943 2,322,943  
Loss on settlement of bonus     6,531    
Change in fair value of embedded features 96,000   203,000 203,000 (5,000)
Issuance of ratchet shares   1,099,360      
Change in fair value of warrant liability 100,780 (128,030) 1,546,280 1,546,280 19,600
Amortization of debt discount     596,954 596,953 19,875
Cash flows from financing activities:          
Proceeds from issuance of convertible notes, warrants, and embedded conversion features     7,369,000 7,369,000 610,000
Proceeds from Paycheck Protection Program loan     62,500 62,500 62,500
Collections of subscriptions receivable - MAIA       322,002 102,400
Collections of subscriptions receivable - DGD         35,000
Proceeds from issuance of common stock, net of transaction costs - MAIA       5,742,171  
Proceeds from issuance of common stock - DGD         50,000
Proceeds from exercise of stock options   65,700 5,400 9,000  
Proceeds from exercise of warrants   385,400   529,425  
Return of capital – DGD         (58,212)
Payment on loan payable to officer     (367) (367) (3,633)
Net cash provided by financing activities   12,670,074 12,804,705 14,033,731 798,055
Collections of subscriptions receivable     2,002    
Issuance of common stock   2,473,560 5,366,170 5,000,000  
Proceeds from sale of common stock in initial public offering   11,500,000      
Payment of initial public offering transaction costs   (1,754,586)      
Net increase (decrease) in cash   3,489,350 10,289,047 9,910,835 (1,046,108)
Cash at beginning of year   10,574,292 663,457 663,457 1,709,565
Cash at end of year 10,952,504 14,063,642 10,952,504 10,574,292 $ 663,457
Supplemental disclosure of cash flow information:          
Conversion of convertible notes and accrued interest into MAIA common stock     8,249,587 8,249,587  
Conversion of SAFE into MAIA common stock     25,000 25,000  
Options issued for accrued bonus     786,531 786,531  
Options issued for deferred compensation     285,418 285,418  
Reclassification of warrant liability to equity $ 1,952,000   1,952,000 1,952,000  
Issuance of convertible note for payment on loan from officer     (21,000) $ (21,000)  
Subscription receivable for issuance of MAIA common stock     $ (320,000)    
Previously paid issuance costs in connection with the initial public offering   651,582      
Warrants issued to underwriters in connection with the initial public offering   343,735      
Change in operating assets and liabilities:          
Net effect of foreign currency exchange on cash   $ (34,334)