Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 5,766,644 $ 11,426,785
Other receivables 35,104
Prepaid expenses and other current assets 2,012,344 2,844,798
Total current assets 7,814,092 14,271,583
Property and equipment, net 52,399 121,062
Operating lease right-of-use assets 24,337 347,440
Deposits 8,600 17,940
Total assets 7,899,428 14,758,025
Current liabilities:    
Accounts payable and accrued expenses 884,350 1,124,197
Short-term notes payable 493,420 267,640
Operating lease liabilities - Current 24,337 204,447
Total current liabilities 1,402,107 1,596,284
Long-term liabilities:    
Operating lease liabilities - Long Term 152,439
Total long-term liabilities 152,439
Shareholders’ equity:    
Preferred stock, no par value; 50,000,000 shares authorized; 5,417,000 and 5,417,000 Series A shares, 4,050,000 and 4,050,000 Series B shares, -0- and -0- Series C shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 1,592,723 1,592,723
Common stock, $0.001 par value; 4,166,666 shares authorized;2,569,385 and 2,024,657 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 2,549 2,025
Additional paid-in capital 198,372,874 196,977,071
Accumulated deficit (193,470,825) (185,562,517)
Total shareholders’ equity 6,497,321 13,009,302
Total liabilities and shareholders’ equity $ 7,899,428 $ 14,758,025