Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 13,951,054 $ 27,265,703
Other receivables 6,987
Prepaid expenses and other current assets 561,952 434,699
Total current assets 14,513,006 27,707,389
Property and equipment, net 132,382 45,708
Operating lease right-of-use assets 395,435 477,882
Total assets 15,040,823 28,230,979
Current liabilities:    
Accounts payable and accrued expenses 871,084 947,574
Short-term notes payable 424,924 303,416
Operating lease liabilities 201,973 194,270
Total current liabilities 1,497,981 1,445,260
Long-term liabilities:    
Operating lease liabilities 204,593 299,520
Total long-term liabilities 204,593 299,520
Shareholders’ equity:    
Preferred stock, no par value; 50,000,000 shares authorized; 5,417,000, and 9,417,000 Series A shares, 4,050,000 and 6,600,000 Series B shares, issued and outstanding at September 30, 2022 and December 31, 2021, respectively 1,592,723 2,656,713
Common stock, $0.001 par value; 250,000,000 and 200,000,000 shares authorized at September 30, 2022 and December 31, 2021, respectively, 117,304,809 and 116,394,806 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 117,305 116,395
Additional paid-in capital 196,888,079 194,987,219
Accumulated deficit (185,259,858) (171,274,128)
Total shareholders’ equity 13,338,249 26,486,199
Total liabilities and shareholders’ equity $ 15,040,823 $ 28,230,979