Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Dec. 31, 2020
Current assets:        
Cash and cash equivalents $ 21,372,463 $ 27,265,703    
Other receivables 6,987    
Prepaid expenses and other current assets 1,721,874 434,699    
Total current assets 23,094,337 27,707,389    
Property and equipment, net 121,845 45,708    
Operating lease right-of-use assets 431,961 477,882    
Total assets 23,648,143 28,230,979    
Current liabilities:        
Accounts payable and accrued expenses 1,094,052 947,574    
Short-term notes payable 122,175 303,416    
Operating lease liabilities 192,535 194,270    
Total current liabilities 1,408,762 1,445,260    
Long-term liabilities:        
Operating lease liabilities 253,928 299,520    
Total long-term liabilities 253,928 299,520    
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 March 31, 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 March 31, 2022 and December 31, 2021, respectively, 116,394,806 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 116,395 116,395    
Additional paid-in capital 195,077,466 194,987,219    
Accumulated deficit (175,865,121) (171,274,128)    
Total shareholders’ equity 21,985,453 26,486,199 $ 36,050,467 $ 16,844,595
Total liabilities and shareholders’ equity $ 23,648,143 $ 28,230,979