Quarterly report pursuant to Section 13 or 15(d)

Condensed Statement Of Cash Flows

v3.20.2
Condensed Statement Of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net loss $ (4,501,424) $ (6,766,510)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 27,013 31,460
Loss on sale of equipment   9,594
Amortization of premiums and discounts on marketable securities, net (4,864) (86,770)
Stock-based compensation 202,212 379,348
Unrealized loss (gain) on fair value of warrants 126,457 (2,183,714)
Changes in assets and liabilities:    
Prepaid expenses and other assets (126,429) 333,132
Accounts payable and accrued expenses 992,750 (1,786,335)
Deferred revenue (850,000) 1,500,000
Other, net (5,751) 5,215
Net Cash Used in Operating Activities (4,140,036) (8,564,580)
Cash Flows from Investing Activities:    
Purchase of equipment   (19,383)
Sale of equipment   5,500
Purchase of marketable securities   (8,887,566)
Redemption of marketable securities 3,000,000 9,000,000
Net Cash Provided by Investing Activities 3,000,000 98,551
Cash Flows from Financing Activities:    
Issuance of common stock and units, net of issuance costs   7,653,828
Net Cash Provided by Financing Activities   7,653,828
Net Decrease in Cash and Cash Equivalents (1,140,036) (812,201)
Cash and Cash Equivalents - beginning of period 9,219,547 8,744,301
Cash and Cash Equivalents - end of period 8,079,511 7,932,100
Supplemental Cash Flow Information    
Operating cash flows paid for amounts included in the measurement of lease liabilities 116,061 158,962
Non-cash financing and investing activties:    
Warrants issued   4,735,913
Operating lease right-of-use assets obtained in exchange for lease obligations   $ 380,935
Warrant liability extinguishment from exercise of warrants $ 57,393