Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net loss from ongoing operations $ (1,511,732) $ (4,122,033)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of warrant liabilities (1,175,000)
Change in fair value of derivative liabilities 120,700
(Gain)/loss on sale of marketable securities (175) 1,650
Change if fair value of marketable securities 1,712 3,092
Stock based compensation:    
Options issued to key employees 19,908 81,002
Options issued to non-employees 49,160 15,998
Change in assets and liabilities    
Prepaid expenses (172,351) 222,226
Trade and other payables (1,304,021) 1,431,487
Operating leases 157 396
Net cash used in operating activities (3,971,642) (2,366,182)
Cash flows from investing activities:    
Purchases of marketable securities (13,024,559) (562)
Proceeds from sale of marketable securities 1,749,970 3,000,000
Net cash provided by/(used in) investing activities (11,274,589) 2,999,438
Cash flows from financing activities    
Net proceeds from the issuance of Series F Convertible Preferred Stock, net of offering costs 14,685,689
Net cash provided by financing activities 14,685,689
Net increase/(decrease) in cash and cash equivalents (560,542) 633,256
Cash and cash equivalents at beginning of period 749,090 555,967
Cash and cash equivalents at end of period 188,548 1,189,223
Supplemental cash flow information    
Interest
Income Taxes
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Accrual of Series F Convertible Preferred Stock Dividend 158,333
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 $ 3,149,800