Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.22.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 17,867,483 $ 27,265,703
Other receivables 6,987
Prepaid expenses and other current assets 102,498 434,699
Total current assets 17,969,981 27,707,389
Property and equipment, net 109,780 45,708
Operating lease right-of-use assets 385,361 477,882
Total assets 18,465,122 28,230,979
Current liabilities:    
Accounts payable and accrued expenses 1,279,598 947,574
Short-term notes payable 303,416
Operating lease liabilities 180,824 194,270
Total current liabilities 1,460,422 1,445,260
Long-term liabilities:    
Operating lease liabilities 217,353 299,520
Total long-term liabilities 217,353 299,520
Shareholders’ equity:    
Preferred stock, no par value; 50,000,000 shares authorized; 9,417,000 Series A shares, 6,600,000 Series B shares, issued and outstanding at June 30, 2022 and December 31, 2021, respectively 2,656,713 2,656,713
Common stock, $0.001 par value; 250,000,000 and 200,000,000 shares authorized at June 30, 2022 and December 31, 2021, respectively, 116,394,806 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively 116,395 116,395
Additional paid-in capital 195,356,454 194,987,219
Accumulated deficit (181,342,215) (171,274,128)
Total shareholders’ equity 16,787,347 26,486,199
Total liabilities and shareholders’ equity $ 18,465,122 $ 28,230,979