Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.23.1
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net loss $ (26,275,260) $ (41,427,293)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 246,156 258,249
Stock based compensation 2,918,837 11,931,188
Change in operating lease right-of-use assets 730,452 674,306
Bad debt expense 40,737 10,850
Changes in operating assets and liabilities:    
Accounts receivable 99,512 (218,602)
Inventory (105,821)  
Prepaid expenses and other current assets 47,335 (238,184)
Other assets 11,991 (10,381)
Accounts payable (305,192) 109,118
Accrued expenses 267,097 (52,970)
Accrued severance (558,923) 975,439
Operating lease liabilities (770,031) (733,473)
Deferred revenue 16,363 1,364
Net cash used in operating activities (23,636,747) (28,720,389)
Cash flows from investing activities:    
Purchases of property and equipment (164,994) (365,735)
Net cash used in investing activities (164,994) (365,735)
Cash flows from financing activities:    
Net proceeds from an at-the-market ("ATM") offerings 744,787 27,043,751
Proceeds from contributions to employee stock purchase plan 272,833 384,126
Net cash provided by financing activities 1,017,620 27,427,877
Net decrease in cash and cash equivalents (22,784,121) (1,658,247)
Cash and cash equivalents - beginning 49,071,414 50,729,661
Cash and cash equivalents - ending 26,287,293 49,071,414
Supplemental disclosure of non-cash financing activities:    
Increase in operating lease right-of-use assets and operating lease liabilities 2,071,336  
Performance Share Unit (PSUs) [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued 1 14
Restricted Stock Units (RSUs) [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued $ 10 $ 14