v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities:    
Net loss $ (3,627,492) $ (1,796,612)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 162,221 77,379
Change in fair value of contingent consideration (589,622)  
Stock-based compensation: Common stock 429,811 2,576
Stock-based compensation: Options 2,295 238,638
Changes in operating assets and liabilities:    
Accounts receivable (60,930) 913,623
Other receivable 507,387  
Prepaid expenses and other current assets 83,274 (107,093)
Accounts payable - suppliers 630,026 (2,523)
Accounts payable - trade 391,034 (378,411)
Accrued expenses and other current liabilities (1,532,150) (454,018)
Accrued interest   1,584
Deferred revenue (369,195)  
Net Cash Used In Operating Activities (3,973,341) (1,504,857)
Cash Flows From Investing Activities:    
Purchase of intangible assets   (64,072)
Purchase of property and equipment (7,520) (1,882)
Net Cash Used In Investing Activities (7,520) (65,954)
Cash Flows From Financing Activities:    
Proceeds from exercise of warrants [1] [1]   9,326,163
Repayment of PPP loan (109,270)  
Repayment of financed director and officer insurance premiums (108,788)  
Net Cash (Used In) Provided By Financing Activities (218,058) 9,326,163
Net (Decrease) Increase In Cash and Cash Equivalents (4,198,919) 7,755,352
Cash and Cash Equivalents - Beginning of the Period 24,907,963 24,782,128
Cash and Cash Equivalents - End of the Period 20,709,044 32,537,480
Non-cash investing and financing activities:    
Surrender and cancellation of common stock $ (18,683)  
Shares of common stock issued in satisfaction of accrued issuable equity   500,400
Accrual of issuance costs   $ 51,252
[1] Includes gross proceeds of $9,708,038, less issuance costs of $381,875.

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