CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
|
3 Months Ended |
Mar. 31, 2022 |
Mar. 31, 2021 |
| Operating Activities: |
|
|
| Net Loss |
$ (3,565,014)
|
$ (2,010,618)
|
| Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: |
|
|
| Depreciation and Amortization |
10,773
|
10,599
|
| Reduction of Right-of-Use Assets |
51,102
|
39,490
|
| Stock-Based Compensation |
215,921
|
216,945
|
| Change in fair value of contingent consideration |
233,890
|
(570,203)
|
| Gain on Disposal of Equipment |
(4,211)
|
|
| Changes in Operating Assets and Liabilities: |
|
|
| Prepaid Expenses |
(323,825)
|
216,078
|
| Tax Receivable |
(33,497)
|
(59,706)
|
| Other Assets |
(10,856)
|
8,073
|
| Accounts Payable |
141,641
|
22,583
|
| Lease Liabilities |
(51,102)
|
(39,490)
|
| Accrued Expenses |
502,792
|
(403,802)
|
| Net Cash Used in Operating Activities |
(2,832,386)
|
(2,570,051)
|
| Investing Activities: |
|
|
| Purchases of Property and Equipment |
|
(58,119)
|
| Proceeds on Sale of Equipment |
6,375
|
|
| Net Cash Provided by (Used in) Investing Activities |
6,375
|
(58,119)
|
| Financing Activities: |
|
|
| Proceeds from Stock Offerings, Net of Offering Costs |
0
|
7,988,861
|
| Exercise of Warrants |
|
50,001
|
| Net Cash Provided by Financing Activities |
0
|
8,038,862
|
| Effect of Exchange Rate Changes on Cash |
38,675
|
14,123
|
| Net (Decrease) Increase in Cash |
(2,787,336)
|
5,424,815
|
| Cash, Cash Equivalents and Restricted Cash, Beginning of Period |
7,899,690
|
1,230,677
|
| Cash, Cash Equivalents and Restricted Cash, End of Period |
5,112,354
|
6,655,492
|
| ASU 2016-02 | Cumulative Effect, Period of Adoption, Adjustment [Member] |
|
|
| Supplemental Disclosures of Noncash Operating and Financing Activities: |
|
|
| Creation of Right-of-Use Assets and Related Lease Liabilities |
$ 0
|
$ 201,089
|