Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 29,348,925 $ 20,208,301
Prepaid expenses and other current assets 1,724,078 1,724,975
Total current assets 31,073,003 21,933,276
Property and equipment, net 103,607 116,276
Operating lease right-of-use assets 132,264  
Total assets 31,308,874 22,049,552
Current liabilities:    
Accounts payable and accrued expenses 1,975,113 1,043,356
Short-term notes payable 77,525 124,213
Operating lease liabilities 132,465  
Total current liabilities 2,185,103 1,167,569
Shareholders’ equity:    
Preferred stock, no par value; 50,000,000 shares authorized; 9,417,000 and 9,417,000 Series A shares, 6,600,000 and 6,600,000 Series B shares, 113.941 and 101.733 Series C shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 6,513,396 6,100,182
Common stock, $0.001 par value; 200,000,000 shares authorized; 46,112,303 and 29,433,135 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 46,112 29,433
Additional paid-in capital 137,676,802 126,125,976
Accumulated deficit (115,112,539) (111,373,608)
Total shareholders’ equity 29,123,771 20,881,983
Total liabilities and shareholders’ equity $ 31,308,874 $ 22,049,552