Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 20,208,301 $ 6,166,143
Prepaid expenses and other current assets 1,724,975 1,027,029
Total current assets 21,933,276 7,193,172
Property and equipment, net 116,276 21,659
Total assets 22,049,552 7,214,831
Current liabilities:    
Accounts payable and accrued expenses 1,043,356 818,044
Short-term notes payable 124,213 80,478
Total current liabilities 1,167,569 898,522
Shareholders’ equity:    
Preferred stock, no par value; 50,000,000 shares authorized; 9,417,000 and 12,000,000 Series A shares, 6,600,000 and 6,600,000 Series B shares, 101.733 and 100 Series C shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively 6,100,182 6,309,608
Common stock, $0.001 par value; 200,000,000 shares authorized 29,433,135 and 4,928,335 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively 29,433 4,928
Additional paid-in capital 126,125,976 101,402,570
Accumulated deficit (111,373,608) (101,400,797)
Total shareholders’ equity 20,881,983 6,316,309
Total liabilities and shareholders’ equity $ 22,049,552 $ 7,214,831