Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 29,948,892 $ 17,639,575
Prepaid expenses and other current assets 586,519 343,106
Total current assets 30,535,411 17,982,681
Property and equipment, net 32,704 42,713
Operating lease right-of-use assets 523,143 655,138
Total assets 31,091,258 18,680,532
Current liabilities:    
Accounts payable and accrued expenses 1,523,197 937,020
Short-term notes payable 482,258 228,227
Operating lease liabilities 190,181 176,900
Total current liabilities 2,195,636 1,342,147
Long-term liabilities:    
Operating lease liabilities 349,199 493,790
Total long-term liabilities 349,199 493,790
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 September 30, 2021 and December 31, 2020, respectively 2,656,713 7,174,854
Common stock, $0.001 par value; 200,000,000 shares authorized; 116,394,806 and 91,766,928 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively 116,395 91,767
Additional paid-in capital 194,754,867 164,022,957
Accumulated deficit (168,981,552) (154,444,983)
Total shareholders’ equity 28,546,423 16,844,595
Total liabilities and shareholders’ equity $ 31,091,258 $ 18,680,532