Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss $ (23,254,656) $ (19,772,905)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 1,912,744 3,089,304
Consulting expense for restricted shares issued 179,490 731,661
Change in fair value of warrant liability 6,682,758 (205,130)
Loss on fair value of warrants over proceeds 12,952  
Change in operating assets and liabilities:    
Prepaid expenses and other current assets (195,935) 285,831
Australia research and development incentives receivable 56,805 158,405
Accounts payable (118,827) 471,897
Accrued expenses (979,792) 2,169,921
Net cash used in operating activities (15,704,461) (13,071,016)
Cash flows from financing activities:    
Proceeds from exercise of stock options 217,158 1,432
Proceeds from sale of common stock in follow-on offering   5,749,875
Proceeds from direct offering   4,000,001
Proceeds from At-The-Market offering 10,111,996 1,667,084
Payment of offering transactions costs (795,257) (2,147,491)
Net cash provided by financing activities 18,176,609 9,270,901
Net effect of foreign currency exchange on cash (21,545) (117)
Net increase (decrease) in cash 2,450,603 (3,800,232)
Cash at beginning of period 7,150,695 10,950,927
Cash at end of period 9,601,298 7,150,695
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 the At-The-Market offering   84,251
Warrants issued in connection with the direct offering   1,903,915
Warrants issued to underwriters in connection with the direct offering   $ 123,811
Warrants issued with private placement 1 offering 2,049,600  
Warrants issued with private placement 2 offering 1,190,111  
Warrants issued with private placement 3 offering 677,919  
Warrants issued with private placement 4 offering 1,800,389  
Warrants issued with private placement 5 offering 635,345  
Private Placement Round 1    
Cash flows from financing activities:    
Proceeds from sale of common stock 2,920,696  
Private Placement Round 2    
Cash flows from financing activities:    
Proceeds from sale of common stock 1,327,990  
Private Placement Round 3    
Cash flows from financing activities:    
Proceeds from sale of common stock 1,004,999  
Private Placement Round 4    
Cash flows from financing activities:    
Proceeds from sale of common stock 2,439,236  
Private Placement Round 5    
Cash flows from financing activities:    
Proceeds from sale of common stock $ 949,791