Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.23.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 6,473,822 $ 11,426,785
Other receivables 13,163
Prepaid expenses and other current assets 1,611,849 2,844,798
Total current assets 8,098,834 14,271,583
Property and equipment, net 98,456 121,062
Operating lease right-of-use assets 249,256 347,440
Deposits 17,940 17,940
Total assets 8,464,486 14,758,025
Current liabilities:    
Accounts payable and accrued expenses 951,019 1,124,197
Short-term notes payable 267,640
Operating lease liabilities - Current 190,242 204,447
Total current liabilities 1,141,261 1,596,284
Long-term liabilities:    
Operating lease liabilities - Long Term 65,752 152,439
Total long-term liabilities 65,752 152,439
Shareholders’ equity:    
Preferred stock, no par value; 50,000,000 shares authorized; 5,417,000 and 5,417,000 Series A shares, 4,050,000 and 4,050,000 Series B shares, -0- and -0- Series C shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 1,592,723 1,592,723
Common stock, $0.001 par value; 4,166,666 shares authorized 2,024,657 and 2,024,657 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively 2,025 2,025
Additional paid-in capital 197,120,665 196,977,071
Accumulated deficit (191,457,940) (185,562,517)
Total shareholders’ equity 7,257,473 13,009,302
Total liabilities and shareholders’ equity $ 8,464,486 $ 14,758,025