v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net loss $ (2,920,938) $ (19,365,689)
Adjustments to reconcile net loss to net cash used in operating activities:    
(Gain) on sale of marketable securities (2,176) (100)
Change in fair value of marketable securities 1,744 975
Change in fair value of derivatives (1,303,000) 11,000
Change in fair value of warrants 4,393,000
Loss on issuance of Series F-1 Convertible Preferred Stock 3,737,000
Loss on issuance of Series G Convertible Preferred Stock 5,109,000
Stock based compensation    
Options issued to directors 110,168 345,056
Options issued to key employees 35,103 558,355
Options issued to non-employees 44,219 53,581
Change in assets and liabilities    
Prepaid Expenses (445,773) (398,154)
Trade and Other Payables (224,954) 900,295
Operating Leases (1,481)
Deferred Compensation Payable 231,454
Net cash used by operating activities (4,705,607) (4,425,708)
Cash flows from investing activities:    
Purchases of marketable securities (5,919,540) (12,539,455)
Proceeds from sale of marketable securities 10,659,546 2,250,360
Net cash provided by/(used in) investing activities 4,740,006 (10,289,095)
Cash flows from financing activities    
Redemption of Series F Convertible Preferred Stock (73,472)
Premium on Series F Convertible Preferred Stock (68,104)
Dividends on Preferred Stock (1,288,605)
Proceeds from issuance of Series F-1 Convertible Preferred Stock 5,050,000
Proceeds from the issuance of Series G Convertible Preferred Stock 8,950,000
Net cash provided by financing activities 12,569,819
Net decrease in cash 34,399 (2,144,984)
Cash at beginning of period 173,154 2,681,010
Cash at end of period 207,553 536,026
Cash paid for:    
Interest
Income Taxes
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Fair value of Series G Convertible Preferred Stock issued in-lieu of dividends 1,193,000
Issuance of common stock for redemptions of Series F Convertible Preferred Stock 155,137
Accrual of Series F Convertible Preferred Stock Dividend 403,758
Accrual of Series F-1 Convertible Preferred Stock Dividend 54,813
Accrual of Series G Convertible Preferred Stock Dividend 97,145
Initial fair value of warrant liabilities pursuant to the issuance of Series F-1 Convertible Preferred Stock and Warrants 7,933,000
Initial fair value of derivative liabilities pursuant to the issuance of Series F-1 Convertible Preferred Stock and Warrants 854,000
Initial fair value of warrant liabilities pursuant to the issuance of Series G Convertible Preferred Stock and Warrants 14,059,000
Reclass of warrant liability upon warrant modification for the Series F Warrants $ 7,961,000

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