v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net loss $ (3,729,128) $ 661,769 $ (7,408,218) $ (4,422,587)  
Adjustments to reconcile net loss to net cash used in operating activities:          
Accrued interest     9,268 33,175  
Amortization of original issue discount and debt issuance costs     1,197,200  
Change in fair value of liability classified warrants (998) (6,403) (10,061) (23,175)  
Consultant compensation     253,731  
Stock-based compensation     152,747 80,574  
Changes in operating assets and liabilities:          
Unbilled receivable     119,704 (1,685,244)  
Prepaid expenses and other assets     780,894 (1,729,252)  
Accounts payable     (893,621) (57,666)  
Accrued expenses and other liabilities     715,097 (131,635)  
Net cash used in operating activities     (6,280,459) (6,738,610)  
Cash flows from investing activities:          
Investment in property and equipment     (123,643)  
Net cash used in investing activities     (123,643)  
Cash flows from financing activities:          
Proceeds from public offerings     1,100,007 1,670,001  
Proceeds from warrant exercises     1,887,709 2,075,219  
Proceeds from warrant inducement, net of issuance costs     2,200,012 8,103,943  
Transaction costs from public offerings     (204,193)  
Transaction costs associated with warrant inducements     (297,021) (1,319,115)  
Repayment of convertible notes     (485,190)  
Repayment of financed insurance premiums     (111,271) (276,260)  
Net cash provided by financing activities     4,575,243 9,768,598  
Increase (decrease) in cash and cash equivalents     (1,828,859) 3,029,988  
Cash and cash equivalents beginning of period     3,502,077 1,123,604 $ 1,123,604
Cash and cash equivalents end of period $ 1,673,218 $ 4,153,592 1,673,218 4,153,592 $ 3,502,077
Supplemental disclosure of non-cash investing and financing activities:          
Incremental fair value of February 2024 Warrant Inducement     5,167,372  
Incremental fair value of April 2025 Warrant Inducement     3,483,420  
Conversion of convertible notes into common stock     1,168,600  
Transaction costs from warrant inducement and public offering included in accounts payable     12,641  
Transaction costs from public offerings      
Deemed dividend related to warrants down round provision     290  
Financed insurance premiums     $ 188,046 $ 235,155  

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