v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (6,028,604) $ (3,341,640)
Adjustments to reconcile net loss to net cash used in operating activities    
Amortization of debt discount 615,933 66,786
Issuance cost from shares issued on extension of bridge loan 201,600
Stock-based compensation 1,268,873 941,989
Gain on default judgement (363,091)
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses 557,589 1,166,880
Accrued compensation (282,548) 340,161
Due from Chromocell Corporation (45,786)
Prepaid expenses (94,585)
Deferred offering costs (750,000)
Net Cash Used In Operating Activities (5,122,219) (624,224)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loan payable, net of debt discount 690,000 181,008
Proceeds from loan payable - related party, net of debt discount 410,928
Payment of bridge loan, net of debt discount (214,757)
Common stock issued for cash 5,972,000
Recission of common stock (166,512)
Net Cash Provided By Financing Activities 6,280,731 591,936
NET INCREASE IN CASH 1,158,512 (32,288)
CASH AT BEGINNING OF PERIOD 96,391 55,074
CASH AT END OF PERIOD 1,254,903 22,786
Supplemental cash flow information:    
Cash paid for income taxes
Cash paid for interest expense
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Shares forfeited   120
Debt discount from common stock issued for extension of bridge loan 447,779
Conversion of notes 1,362,821
Transfer of liabilities to Chromocell Corp for Preferred Stock 2,153,362
Account payable and accrued expenses converted to notes 1,455,416
Account payable and accrued expenses converted to notes - related party 131,868
Shares issued for payment of accounts payable $ 7,339

Source