v3.25.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:            
Net loss   $ (1,733,517) $ (1,967,793) $ (3,679,090) $ (5,084,356)  
Adjustments to reconcile net loss to net cash used in operating activities:            
Accrued interest       6,107 29,113  
Amortization of orginal issue discount and debt issuance costs       1,197,200  
Change in fair value of liability classified warrants   853 (7,818) (9,063) (16,773)  
Consultant compensation       203,014  
Stock-based compensation       106,889 59,756  
Changes in operating assets and liabilities:            
Unbilled receivable       (1,080,864) (126,662)  
Prepaid expenses and other assets       1,185 190,909  
Accounts payable       (314,247) (1,795,404)  
Accrued expenses and other liabilities       351,789 (172,077)  
Net cash used in operating activities       (4,414,280) (5,718,294)  
Cash flows from financing activities:            
Proceeds from public offerings       1,100,007  
Proceeds from warrant exercises       390,855 2,075,219  
Proceeds from warrant inducement, net of issuance costs       2,200,012 4,718,295  
Transaction costs from public offerings       (204,193)  
Transaction costs associated with warrant inducements       (291,611) (465,494)  
Repayment of convertible notes       (485,190)  
Repayment of financed insurance premiums       (71,292) (204,909)  
Net cash provided by financing activities       3,123,778 5,637,921  
Increase (decrease) in cash and cash equivalents       (1,290,502) (80,373)  
Cash and cash equivalents beginning of period       3,502,077 1,123,604 $ 1,123,604
Cash and cash equivalents end of period $ 2,211,575 $ 2,211,575 $ 1,043,231 2,211,575 1,043,231 $ 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       341,368  
Transaction costs from public offerings       5,410  
Deemed dividend related to warrants down round provision       290  
Financed insurance premiums $ 200,000     $ 188,046 $ 235,155  

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