Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net loss $ (16,946,731) $ (8,640,500)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 763,913 1,156,453
Consulting expense for restricted shares issued 11,500 488,330
Change in fair value of warrant liability 9,338,791 (123,741)
Loss on fair value of warrants over proceeds 12,952  
Change in operating assets and liabilities:    
Prepaid expenses and other current assets 8,198 309,089
Australia research and development incentives receivable (36,650) (91,009)
Accounts payable (372,786) 384,667
Accrued expenses (1,050,758) 595,430
Net cash used in operating activities (8,271,571) (5,921,281)
Cash flows from financing activities:    
Proceeds from exercise of stock options 185,646  
Deferred offering costs   (278,446)
Proceeds from sale of common stock in follow-on offering   5,749,875
Proceeds from At-The-Market offering 7,862,229  
Payment of offering transactions costs (597,233) (1,351,907)
Net cash provided by financing activities 12,704,327 4,119,522
Net effect of foreign currency exchange on cash (4,060) (3,012)
Net increase (decrease) in cash 4,428,696 (1,804,771)
Cash at beginning of period 7,150,695 10,950,927
Cash at end of period 11,579,391 9,146,156
Supplemental disclosure of cash flow information:    
Options issued for accrued bonus   974,224
Warrants issued to underwriters in connection with the follow-on offering   $ 241,109
Warrants issued in connection with private placement offering 1 2,049,600  
Warrants issued in connection with private placement offering 2 1,190,111  
Warrants issued in connection with private placement offering 3 677,919  
Private Placement Offering 1    
Cash flows from financing activities:    
Proceeds from sale of common stock 2,920,696  
Private Placement Offering 2    
Cash flows from financing activities:    
Proceeds from sale of common stock 1,327,990  
Private Placement Offering 3    
Cash flows from financing activities:    
Proceeds from sale of common stock $ 1,004,999