Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,133,071) $ (2,704,650)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 757 2,412
Amortization of right of use asset 13,765 10,179
Gain on sale of property and equipment 0 (2,000)
Gain on settlement with vendor (143,639) 0
Share-based expense 277,332 450,667
Vendor share-based payments 0 32,427
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 167,586 (775,258)
Accounts payable, accrued expenses and other liabilities (484,190) 680,767
Net cash used in operating activities (2,301,460) (2,305,456)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of property and equipment 0 2,000
Net cash provided by investing activities 0 2,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock and warrants 0 2,699,559
Net cash provided by financing activities 0 2,699,559
Net change in cash (2,301,460) 396,103
Cash at beginning of period 10,367,920 638,115
Cash at end of period 8,066,460 1,034,218
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0 8
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Right of use assets obtained in exchange for lease liability 0 43,330
Issuance of common stock from cashless exercise of purchase warrants $ 229 $ 0