Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v3.19.3
Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 22,291,924 $ 20,208,301
Prepaid expenses and other current assets 555,465 1,724,975
Total current assets 22,847,389 21,933,276
Property and equipment, net 89,651 116,276
Operating lease right-of-use assets 714,925
Total assets 23,651,965 22,049,552
Current liabilities:    
Accounts payable and accrued expenses 1,894,730 1,043,356
Short-term notes payable 217,419 124,213
Operating lease liabilities 135,120
Total current liabilities 2,247,269 1,167,569
Long-term liabilities:    
Operating lease liabilities 586,170
Total long-term liabilities 586,170
Shareholders' equity:    
Preferred stock, no par value; 50,000,000 shares authorized; 9,417,000 and 9,417,000 Series A shares, 6,600,000 and 6,600,000 Series B shares, 113.941 and 101.733 Series C shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively 6,513,396 6,100,182
Common stock, $0.001 par value; 200,000,000 shares authorized; 46,124,803 and 29,433,135 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively 46,125 29,433
Additional paid-in capital 138,014,553 126,125,976
Accumulated deficit (123,755,548) (111,373,608)
Total shareholders' equity 20,818,526 20,881,983
Total liabilities and shareholders' equity $ 23,651,965 $ 22,049,552