Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 17,639,575 $ 18,267,994
Prepaid expenses and other current assets 343,106 570,071
Total current assets 17,982,681 18,838,065
Property and equipment, net 42,713 91,968
Operating lease right-of-use assets 655,138 822,684
Total assets 18,680,532 19,752,717
Current liabilities:    
Accounts payable and accrued expenses 937,020 1,541,415
Short-term notes payable 228,227 143,864
Operating lease liabilities 176,900 165,096
Total current liabilities 1,342,147 1,850,375
Long-term liabilities    
Operating lease liabilities 493,790 670,690
Total long-term liabilities 493,790 670,690
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 December 31, 2020 and December 31, 2019, respectively 7,174,854 6,513,396
Common stock, $0.001 par value; 200,000,000 shares authorized 91,766,928 and 46,124,803 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 91,767 46,125
Additional paid-in capital 164,022,957 138,024,957
Accumulated deficit (154,444,983) (127,352,826)
Total shareholders' equity 16,844,595 17,231,652
Total liabilities and shareholders' equity $ 18,680,532 $ 19,752,717