v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (5,732,326) $ (21,295,080)
Adjustments to reconcile net loss to net cash used in operating activities:    
Gain on sale of marketable securities (2,176) (651)
Change in fair value of marketable securities 1,435 (3,771)
Change in fair value of derivatives (244,000) 367,000
Change in fair value of warrants 4,410,000
Loss on issuance of Series F-1 Convertible Preferred Stock 3,737,000
Loss on issuance of Series G Convertible Preferred Stock 5,109,000
Stock based compensation    
Options issued to directors 110,168 410,810
Options issued to key employees 35,103 496,494
Options issued to non-employees 44,219 63,450
Change in assets and liabilities: net of acquisition    
Prepaid Expenses (256,561) (491,875)
Trade and Other Payables 178,261 444,119
Operating Leases (1,481)
Deferred Compensation Payable (100,538)
Net cash used by operating activities (5,865,877) (6,855,523)
Cash flows from investing activities:    
Purchase of technology license (2,009,022)
Purchases of marketable securities (5,955,495) (12,703,405)
Proceeds from sale of marketable securities 11,209,546 5,500,450
Net cash provided by/(used in) investing activities 3,245,029 (7,202,955)
Cash flows from financing activities    
Redemption of Series F Convertible Preferred Stock (73,472)
Premium on Series F Convertible Preferred Stock
Dividends on Preferred Stock (1,356,709)
Net proceeds from the issuance of Series F-1 Convertible Preferred Stock 5,050,000
Net proceeds from the issuance of Series G Convertible Preferred Stock 8,950,000
Net proceeds from the issuance of Series H Convertible Preferred Stock 6,654,838
Net proceeds from the exercise of warrants for common stock 2,697,041
Net cash provided by financing activities 9,351,879 12,569,819
Net increase/(decrease) in cash 6,731,031 (1,488,659)
Cash and cash equivalents at beginning of period 173,154 2,681,010
Cash and cash equivalents at end of period 6,904,185 1,192,351
Cash paid for:    
Interest
Income Taxes
Supplemental Schedule of Non-Cash Financing and Investing Activities    
Fair value of Series G Convertible Preferred Stock issued in-lieu of dividends 1,866,000
Initial fair value of derivative liabilities pursuant to the issuance of Series H Convertible Preferred Stock and Warrants 1,837,000
Contingent Consideration Payable for technology license 9,380,000
Issuance of Series I Convertible Preferred Stock for technology license 2,697,977
Issuance of common stock for redemptions of Series F Convertible Preferred Stock 155,137
Accrual of Series F Convertible Preferred Stock Dividend 403,758
Accrual of Series F-1 Convertible Preferred Stock Dividend 54,813
Accrual of Series G Convertible Preferred Stock Dividend 97,145
Initial fair value of warrant liabilities pursuant to the issuance of Series F-1 Convertible Preferred Stock and Warrants 7,933,000
Initial fair value of derivative liabilities pursuant to the issuance of Series F-1 Convertible Preferred Stock and Warrants 854,000
Initial fair value of derivative liabilities pursuant to the issuance of Series F-1 Convertible Preferred Stock and Warrants 14,059,000
Reclass of warrant liability upon warrant modification for the Series F Warrants $ 7,961,000

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