Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.24.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 3,483,501 $ 11,426,785
Prepaid expenses and other current assets 382,273 2,862,738
Total current assets 3,865,774 14,289,523
Property and equipment, net (0) 121,062
Prepaid research and development expense 1,090,750 (0)
Operating lease right-of-use assets 9,811 347,440
Total assets 4,966,335 14,758,025
Current liabilities:    
Accounts payable and accrued expenses 1,475,667 1,124,197
Short-term notes payable 312,703 267,640
Operating lease liabilities - Current 9,811 204,447
Total current liabilities 1,798,181 1,596,284
Long-term liabilities:    
Operating lease liabilities - Long Term 152,439
Total long-term liabilities 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, 7,488,197 and -0- Series F shares outstanding at December 31, 2023 and December 31, 2022, respectively 1,592,723 1,592,723
Common stock, $0.001 par value; 350,000,000 shares authorized; 3,080,693 and 2,024,657 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively 3,081 2,025
Additional paid-in capital 207,790,604 196,977,071
Accumulated Deficit (206,218,254) (185,562,517)
Total shareholders’ equity 3,168,154 13,009,302
Total liabilities and shareholders’ equity $ 4,966,335 $ 14,758,025