Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

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Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:        
Net loss $ (2,717,369) $ (3,826,952) $ (5,198,192) $ (6,438,787)
Adjustments to reconcile net loss to net cash used in operating activities        
Stock-based compensation 200,000 200,000 430,059 437,521
Amortization of loan commitment fee     31,838
Changes in operating assets and liabilities:        
Prepaid expenses     251,008 498,054
Accounts payable     (215,866) (34,274)
Accrued expenses     160,621 894,144
Net cash used in operating activities     (4,540,532) (4,643,342)
Cash flows from financing activities:        
Proceeds from issuance of common stock     6,646,748
Payment of financing/offering costs     (62,354) (248,927)
Proceeds from issuance of common stock upon exercise of options     52,400
Net cash (used in) provided by financing activities     (62,354) 6,450,221
Net (decrease) increase in cash     (4,602,886) 1,806,879
Cash, beginning of period     11,247,403 14,548,471
Cash, end of the period $ 6,644,517 $ 16,355,350 6,644,517 16,355,350
Noncash investing and financing activities:        
Financing commitment fee funded through issuance of common stock     $ 654,000