Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 36,500,856 $ 17,639,575
Prepaid expenses and other current assets 222,795 343,106
Total current assets 36,723,651 17,982,681
Property and equipment, net 30,399 42,713
Operating lease right-of-use assets 611,761 655,138
Total assets 37,365,811 18,680,532
Current liabilities:    
Accounts payable and accrued expenses 572,739 937,020
Short-term notes payable 114,881 228,227
Operating lease liabilities 181,260 176,900
Total current liabilities 868,880 1,342,147
Long-term liabilities:    
Operating lease liabilities 446,464 493,790
Total long-term liabilities 446,464 493,790
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, -0- and 133.483 Series C shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 2,656,713 7,174,854
Common stock, $0.001 par value; 200,000,000 shares authorized; 115,638,266 and 91,766,928 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively 115,638 91,767
Additional paid-in capital 194,060,575 164,022,957
Accumulated deficit (160,782,459) (154,444,983)
Total shareholders' equity 36,050,467 16,844,595
Total liabilities and shareholders' equity $ 37,365,811 $ 18,680,532