Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.22.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:    
Net loss $ (41,427,293) $ (31,832,086)
Adjustments to reconcile net loss to Net cash used in operating activities:    
Depreciation and amortization 258,249 356,310
Stock based compensation 11,931,188 7,897,970
Change in operating lease right-of-use assets 674,306 764,285
Bad debt expense 10,850 21,377
Loss on disposal of property and equipment   4,134
Changes in operating assets and liabilities:    
Accounts receivable (218,602) (34,083)
Prepaid expenses and other current assets (238,184) (186,471)
Other assets (10,381) 800
Accounts payable 109,118 (574,680)
Accrued expenses (52,970) (486,810)
Accrued severance expense 975,439  
Operating lease liabilities (733,473) (722,291)
Deferred revenue 1,364  
Net cash used in operating activities (28,720,389) (24,791,545)
Cash flows used in investing activities:    
Purchases of property and equipment (365,735) (136,631)
Net cash used in investing activities (365,735) (136,631)
Cash flows from financing activities:    
Net proceeds from an at-the-market ("ATM") offerings 27,043,751 53,556,202
Proceeds from contributions to employee stock purchase plan 384,126 417,546
Net cash provided by financing activities 27,427,877 53,973,748
Net (decrease) increase in cash and cash equivalents (1,658,247) 29,045,572
Cash and cash equivalents - beginning 50,729,661 21,684,089
Cash and cash equivalents - ending 49,071,414 50,729,661
Performance Shares    
Supplemental disclosure of non-cash financing activities:    
Common stock issued 14  
Restricted Stock Units (RSUs) [Member]    
Supplemental disclosure of non-cash financing activities:    
Common stock issued $ 14 $ 12