Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Current assets:            
Cash and cash equivalents $ 17,867,483   $ 27,265,703      
Other receivables   6,987      
Prepaid expenses and other current assets 1,990,049   434,699      
Total current assets 19,857,532   27,707,389      
Property and equipment, net 109,780   45,708      
Operating lease right-of-use assets 385,361   477,882      
Total assets 20,352,673   28,230,979      
Current liabilities:            
Accounts payable and accrued expenses 1,279,598   947,574      
Short-term notes payable   303,416      
Operating lease liabilities 180,824   194,270      
Total current liabilities 1,460,422   1,445,260      
Long-term liabilities:            
Operating lease liabilities 217,353   299,520      
Total long-term liabilities 217,353   299,520      
Shareholders’ equity:            
Preferred stock, no par value; 50,000,000 shares authorized; 9,417,000 Series A shares, 6,600,000 Series B shares, issued and outstanding at June 30, 2022 and December 31, 2021, respectively 2,656,713   2,656,713      
Common stock, $0.001 par value; 250,000,000 and 200,000,000 shares authorized at June 30, 2022 and December 31, 2021, respectively, 116,394,806 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 116,395   116,395      
Additional paid-in capital 195,356,454   194,987,219      
Accumulated deficit (179,454,664)   (171,274,128)      
Total shareholders’ equity 18,674,898 $ 21,985,453 26,486,199 $ 32,733,400 $ 36,050,467 $ 16,844,595
Total liabilities and shareholders’ equity $ 20,352,673   $ 28,230,979