v3.25.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:    
Net loss from ongoing operations $ (23,359,334) $ (3,999,950)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on sale of marketable securities (976) (416)
Change in fair value of marketable securities (671) (514)
Change in fair value of derivatives 388,000 (3,088,800)
Change in fair value of warrants 4,410,000 (9,756,000)
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 476,563 944,834
Options issued to key employees 507,390 1,962,138
Options issued to non-employees 73,318 142,565
Shares issued for services 600,000
Change in assets and liabilities    
Prepaid expenses (504) (327,439)
Trade and other payables (814,114) 1,042,997
Operating leases (1,481) (578)
Deferred compensation payable (100,538) 100,538
Net cash used by operating activities (8,976,347) (12,980,625)
Cash flows from investing activities:    
Purchases of marketable securities (12,851,809) (13,454,304)
Proceeds from sale of marketable securities 6,750,480 15,300,030
Net cash (used in)/provided by investing activities (6,101,329) 1,845,726
Cash flows from financing activities    
Net proceeds from the issuance of Series F Convertible Preferred Stock 14,685,689
Net proceeds from the issuance of Series F-1 Convertible Preferred Stock 5,050,000
Net proceeds from the issuance of Series G Convertible Preferred Stock 8,950,000
Redemption of Convertible Preferred Stock (73,472) (89,635)
Dividend on Convertible Preferred Stock (1,356,708) (1,452,145)
Premium on Convertible Preferred Stock (77,090)
Net cash provided by financing activities 12,569,820 13,066,819
Net increase/(decrease) in cash and cash equivalents (2,507,856) 1,931,920
Cash and cash equivalents at beginning of year 2,681,010 749,090
Cash and cash equivalents at end of year 173,154 2,681,010
Supplemental cash flow information    
Interest
Income Taxes
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Initial fair value of warrant liabilities pursuant to the issuance of Series F Convertible Preferred Stock and Warrants 10,623,000
Initial fair value of derivative liabilities pursuant to the issuance of Series F Convertible Preferred Stock and Warrants 3,149,000
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 to equity upon warrant modification for the Series F Warrants 7,961,000
Reclass of warrant liability to equity upon warrant modification for the Series F-1 Warrants 6,965,000
Reclass of warrant liability to equity upon warrant modification for the Series G Warrants 12,343,000
Modification of Series F Convertible Preferred Stock $ 4,673,735

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