Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 11,426,785 $ 27,265,703
Other receivables 6,987
Prepaid expenses and other current assets 2,862,738 434,699
Total current assets 14,289,523 27,707,389
Property and equipment, net 121,062 45,708
Operating lease right-of-use assets 347,440 477,882
Total assets 14,758,025 28,230,979
Current liabilities:    
Accounts payable and accrued expenses 1,124,197 947,574
Short-term notes payable 267,640 303,416
Operating lease liabilities 204,447 194,270
Total current liabilities 1,596,284 1,445,260
Long-term liabilities    
Operating lease liabilities 152,439 299,520
Total long-term liabilities 152,439 299,520
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, -0- and 0 Series C shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively 1,592,723 2,656,713
Common stock, $0.001 par value; 4,166,666 shares authorized 2,024,657 and 2,002,946 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively 2,025 2,003
Additional paid-in capital 196,977,071 195,101,611
Accumulated deficit (185,562,517) (171,274,128)
Total shareholders’ equity 13,009,302 26,486,199
Total liabilities and shareholders’ equity $ 14,758,025 $ 28,230,979