v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating Activities    
Net Income (Loss) $ 3,594,733 $ (12,513,896)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by (Used in) Operating Activities:    
Closure of EyeGate Pharma S.A.S. Subsidiary 0 (53,882)
Depreciation and Amortization of Intangible Assets 19,205 51,798
Impairment of Intangible Assets 104,167 0
Reduction of Right-of-Use Assets 46,500 10,626
Stock-Based Compensation 656,593 754,944
Impairment of In-Process R&D 2,008,000 1,904,314
Change in Fair Value of Contingent Consideration (937,469) 1,992,399
Accretion of Discount on Marketable Securities (283,474) 0
Change in Accrued Interest on Marketable Securities (25,811) 0
Net Realized Gain on Marketable Securities (4,519) 0
Change in Unrealized Gain on Cash Equivalents 119 0
Deferred Taxes (288,750) 90,319
Loss on Disposal of Assets 3,760 28,379
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets (1,823,897) 885
Collaboration Receivable (601,197) 0
Tax and Other Receivables 1,634,464 (548,109)
Other Assets 15,231 (7,583)
Accounts Payable 226,119 (808,016)
Accrued Expenses 3,280,730 (459,713)
Accrued Collaboration Credit 981,111 0
Operating Lease Liabilities (46,500) 584
Net Cash Provided by (Used in) Operating Activities 8,559,115 (9,556,951)
Investing Activities:    
Purchases of Property and Equipment (6,256) 0
Purchases of Marketable Securities (35,632,375) 0
Sales of Marketable Securities 1,338,256 0
Maturities of Marketable Securities 11,637,764 0
Net Cash Used in Investing Activities (22,662,611) 0
Financing Activities:    
Gross Proceeds from Private Placement 14,998,865 200,000
Exercise of Warrants 1,689,339 307,079
Payment of Contingent Consideration 0 (495,000)
Net Cash Provided by Financing Activities 15,498,155 5,966,066
Effect of Exchange Rate Changes on Cash (57,231) 36,020
Net Increase (Decrease) in Cash and Cash Equivalents 1,337,428 (3,554,865)
Cash and Cash Equivalents, Including Restricted Cash, Beginning of Year 2,458,951 6,013,816
Cash and Cash Equivalents, Including Restricted Cash, End of Year 3,796,379 2,458,951
Supplemental Disclosures of Noncash Operating and Financing Activities:    
Creation of Right-of-Use Assets and Related Lease Liabilities 0 114,747
Grant of Restricted Stock Awards 306 2,701
Series F Preferred Stock    
Supplemental Disclosures of Noncash Operating and Financing Activities:    
Conversion of Series F Preferred Stock into Common Stock 0 31,706
Public Offering    
Financing Activities:    
Proceeds from issuance of common stock, net of offering costs 0 6,325,000
Issuance Costs 0 (729,038)
Equity Line Of Credit    
Financing Activities:    
Proceeds from issuance of common stock, net of offering costs 0 442,310
Issuance Costs $ (1,190,049) $ (84,285)

Source

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