Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows

v3.23.1
Condensed Statements of Cash Flows - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss $ (6,652,507) $ (7,152,718)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 45,797 70,119
Stock based compensation 522,077 796,906
Changes in operating lease right-of-use assets 181,357 186,736
Inventory net realizable adjustment 111,019  
Bad debt expense (12,500)  
Offering costs allocated to warrants 591,670  
Changes in operating assets and liabilities:    
Accounts receivable 54,918 84,678
Inventory (76,795) (68,480)
Prepaid expenses and other current assets 178,072 443,216
Accounts payable 450,253 (271,044)
Accrued expenses (420,368) (180,535)
Accrued severance expense (166,906) (65,566)
Operating lease liabilities (176,606) (203,010)
Deferred revenue 6,164 2,727
Net cash used in operating activities (5,364,355) (6,356,971)
Cash flows from investing activities:    
Purchases of property and equipment   (44,489)
Net cash used in investing activities   (44,489)
Cash flows from financing activities:    
Net proceeds from an ATM offering 2,674,697  
Net proceeds from a sale of common stock and warrant issuance 2,677,191  
Proceeds from contributions to employee stock purchase plan 65,134 104,217
Net cash provided by financing activities 5,417,022 104,217
Net increase (decrease) in cash and cash equivalents 52,667 (6,297,243)
Cash and cash equivalents – beginning 26,287,293 49,071,414
Cash and cash equivalents – ending 26,339,960 42,774,171
Restricted Stock Units (RSUs) [Member]    
Supplemental disclosure of non-cash investing and financing activities:    
Common stock issued $ 2 $ 4