Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.20.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 10,043,613 $ 18,267,994
Prepaid expenses and other current assets 485,655 570,071
Total current assets 10,529,268 18,838,065
Property and equipment, net 55,026 91,968
Operating lease right-of-use assets 697,910 822,684
Total assets 11,282,204 19,752,717
Current liabilities:    
Accounts payable and accrued expenses 456,794 1,541,415
Short-term notes payable 472,148 143,864
Operating lease liabilities 173,536 165,096
Total current liabilities 1,102,478 1,850,375
Long-term liabilities:    
Operating lease liabilities 539,381 670,690
Total long-term liabilities 539,381 670,690
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, 133.483 and 113.941 Series C shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively 7,174,854 6,513,396
Common stock, $0.001 par value; 200,000,000 shares authorized; 61,004,917 and 46,124,803 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively 61,005 46,125
Additional paid-in capital 152,440,386 138,024,957
Accumulated deficit (150,035,900) (127,352,826)
Total shareholders' equity 9,640,345 17,231,652
Total liabilities and shareholders' equity $ 11,282,204 $ 19,752,717