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 $ (7,955,338) $ (7,380,793)
Adjustments to reconcile net loss to net cash used in operating activities    
Amortization of debt discount 692,020 188,119
Issuance cost from shares issued on extension of investor note 201,600
Stock-based compensation 1,799,295 1,733,233
Shares issued for license 2,225,733
Gain on default judgement (363,091)
Changes in operating assets and liabilities:    
Accounts payable and accrued expenses 1,178,573 1,627,005
Accrued compensation (282,856) 424,072
Due from Chromocell Corporation (45,786)
Prepaid expenses (65,300)
Deferred offering costs (750,000)
Net Cash Used In Operating Activities (5,792,483) (981,031)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from loan payable, net of debt discount 536,184 201,008
Proceeds from loan payable - related party, net of debt discount 565,928
Payment of bridge loan, net of debt discount (214,757)
Common stock issued for cash 5,972,000 255,412
Recission of common stock (91,512)
Repurchase of Common Stock under Stock Repurchase Plan (75,000)
Shares issued for cash under equity line of credit 82,620
Net Cash Provided By Financing Activities 6,209,535 1,022,348
NET INCREASE IN CASH 417,052 41,317
CASH AT BEGINNING OF YEAR 96,391 55,074
CASH AT END OF YEAR 513,443 96,391
Supplemental cash flow information:    
Cash paid for income taxes
Cash paid for interest expense
NONCASH INVESTING AND FINANCING ACTIVITIES:    
Shares forfeited   13
Debt discount from common stock issued for extension of bridge loan 447,779 428,400
Conversion of notes to common stock 1,362,821
Transfer of liabilities to Chromocell Corp for Series C Preferred Stock 2,153,362
Accounts payable and accrued expenses converted to loans payable 1,455,416
Accounts payable and accrued expenses converted to loans payable - related party 131,868
Shares issued for payment of accounts payable 7,339
Shares issued for payment of accrued interest 3,344
Shares issued for payment of principal on loan payable $ 23,788

Source

HTML PDF
ZIP