v3.22.2.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
Cash flows from operating activities:          
Net loss $ (9,855,565) $ (17,199,474) $ (18,729,609) $ (19,108,777)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation 50 151  
Gain on sale of asset     (4,500)  
Accrued interest     57,536 336,851  
Accretion of discounts on promissory notes     945,969  
Change in fair value of derivative liabilities (673,314)  
Change in fair value of liability classified warrants     (5,626,130)  
Loss on issuance of convertible notes 3,609,944 3,609,944  
Change in fair value of convertible notes     (6,169,929) (1,071,099)  
Loss on extinguishment of debt 347,566  
Stock-based compensation     855,160 105,026  
Issuance of warrants for share subscription facility     11,565,472  
Issuance of liability classified warrants     3,737,371 620,718  
Issuance costs for convertible notes     946,085 800,158  
Commitment fee for share subscription facility     1,124,292  
Warrant modification     56,590  
Lease cost     (63) (1,838)  
Loss on debt conversions 1,404,877 4,000,155  
Changes in operating assets and liabilities:          
Unbilled receivable     300,908 (86,867)  
Prepaid expenses and other assets     475,499 (683,492)  
Accounts payable     984,410 (1,252,740)  
Accrued expenses and other liabilities     971,344 2,500,970  
Net cash used in operating activities     (14,591,819) (4,474,364)  
Cash flows from investing activities:          
Proceeds from sale of asset     4,500  
Net cash provided by investing activities     4,500  
Cash flows from financing activities:          
Proceeds from issuance of convertible notes, net     7,533,915 4,549,842  
Proceeds from issuance of promissory notes to related parties     350,000  
Proceeds from exercise of stock options     262,862  
Repayment of promissory notes     (467,774)  
Repayments of convertible notes     (265,812)  
Proceeds from issuance of common stock for business combination, net of transaction costs     6,626,312  
Repayment of financed insurance premiums     (442,439) (195,420)  
Net cash (used in) provided by financing activities     6,825,664 11,125,822  
Increase in cash and cash equivalents     (7,761,655) 6,651,458  
Cash and cash equivalents beginning of period     12,264,736 194,214 $ 194,214
Cash and cash equivalents end of period $ 4,503,081 $ 6,845,672 4,503,081 6,845,672 12,264,736
Supplemental cash flow information:          
Income tax payments     1,600 1,600  
Supplemental disclosure of non-cash investing and financing activities:          
Stock-based compensation     1,742,478  
Conversions of convertible notes and accrued interest into common stock     13,879,535 5,696,703  
Payable to related parties     800,000  
Net assets acquired in business combination     1,068,950  
Financed insurance premiums     399,949 867,300 $ 900,000
Share subscription facility transaction costs     12,689,764  
Deemed dividend related to warrants down round provision     $ 881,598  

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