Lightwave Logic Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
LWLG$4.91+12.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDING DECEMBER 31, 2023, 2022 AND 2021
| For the | For the | For the | |
|---|---|---|---|
| Year Ending | Year Ending | Year Ending | |
| December 31, 2023 | December 31, 2022 | December 31, 2021 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net loss | $(21,038,032) | $(17,230,480) | $(18,631,381) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Warrants issued for services | — | — | 11,001 |
| Stock options issued for services | 6,459,387 | 5,813,628 | 1,022,985 |
| Amortization of deferred compensation | 262,697 | 91,713 | — |
| Cashless option exercise | — | 53,219 | 3,407,444 |
| Common stock issued for services and fees | 673,578 | 209,709 | 2,059,464 |
| Depreciation and amortization of patents | 1,119,141 | 1,045,208 | 878,520 |
| Amortization of right of use asset | 184,835 | 178,192 | 167,007 |
| Gain on disposal of property and equipment | (215,509) | — | — |
| Paycheck Protection Program loan forgiveness | — | — | (410,700) |
| Decrease (increase) in assets | |||
| Accounts receivable | (30,376) | — | — |
| Prepaid expenses and other current assets | (587,540) | (379,037) | 334,877 |
| Increase (decrease) in liabilities | |||
| Accounts payable | 655,925 | 575,937 | 46,487 |
| Accrued bonuses and accrued expenses | 219,150 | (737,800) | 1,036,684 |
| Accounts payable and accrued expenses-related parties | 213,314 | 67,980 | (17,608) |
| Deferred revenue | 39,875 | — | — |
| Deferred lease liability | (41,778) | (41,778) | (41,778) |
| Operating lease liability | (150,691) | (178,192) | (167,007) |
| Net cash used in operating activities | (12,236,024) | (10,531,701) | (10,304,005) |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Cost of intangibles | (307,687) | (260,415) | (18,649) |
| Purchase of property and equipment | (3,292,224) | (1,307,187) | (1,097,530) |
| Repayment (issuance) of loan | 642,120 | (642,120) | — |
| Sale of property and equipment | 590 | — | — |
| Net cash used in investing activities | (2,957,201) | (2,209,722) | (1,116,179) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Exercise of options and warrants | 1,013,924 | 653,895 | 2,379,225 |
| Cashless option exercise tax payments | — | (18,201) | (1,170,586) |
| Issuance of common stock, institutional investor | 19,993,359 | 12,775,268 | 30,350,674 |
| At the market sale by investment banking company | 1,515,878 | — | — |
| Repayment of equipment purchase payable | — | — | (13,107) |
| Net cash provided by financing activities | 22,523,161 | 13,410,962 | 31,546,206 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 7,329,936 | 669,539 | 20,126,022 |
| CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 24,102,151 | 23,432,612 | 3,306,590 |
| CASH AND CASH EQUIVALENTS - END OF YEAR | $31,432,087 | $24,102,151 | $23,432,612 |
| Supplemental Disclosure of Non-cash investing and financing activities: | |||
| Amended Operating Lease - Right of Use - Building and Operating lease liability | $2,703,527 | $— | $— |
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