v3.20.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (4,087,923) $ (4,817,058)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation 966,085 748,464
Non-cash warrant modification expense 441,763
Amortization of intangible assets 282 283
Changes in operating assets and liabilities:    
Prepaid research and development expenses (131,618) 234,273
Prepaid expenses and other current assets 182,736 162,340
Accrued expenses 7,673 292,064
Accounts payable 252,171 76,515
Net cash used in operating activities (2,810,594) (2,861,356)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from sale of common stock and warrants 4,657,215 8,195,673
Proceeds from warrant exercise 1,050,663
Net cash provided by financing activities 4,657,215 9,246,336
NET INCREASE IN CASH AND CASH EQUIVALENTS 1,846,621 6,384,980
CASH AND CASH EQUIVALENTS-BEGINNING OF PERIOD 6,777,052 3,869,043
CASH AND CASH EQUIVALENTS-END OF PERIOD 8,623,673 10,254,023
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid
Income taxes paid
Reclassification of stock-based comp from accrued expenses $ 117,001

Source