Balance Sheet

v3.25.2

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2025	Dec. 31, 2024
Current Assets:
Cash	$ 2,218,331	$ 4,585,141
Prepaid expenses and other current assets	873,789	556,230
Total Current Assets	3,092,120	5,141,371
Intangible assets, net	7,622,041	7,622,041
Total Assets	10,714,161	12,763,412
Current Liabilities:
Accounts payable	2,204,060	1,933,141
Accrued expenses	623,661	739,674
Loans payable - current portion	762,445	147,889
Total Current Liabilities	5,333,598	3,504,885
Loans payable - noncurrent portion		6,616
Total Liabilities	5,333,598	3,511,501
Commitments and contingencies (Note 9)
Stockholders’ Equity:
Preferred stock, value
Common stock, $0.0001 par value; 100,000,000 shares authorized; 6,039,208 and 3,176,999 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	604	318
Treasury stock	(1,000,000)
Additional paid-in capital	155,124,183	153,691,755
Accumulated other comprehensive income	(3,125,044)	(2,916,918)
Accumulated deficit	(145,619,180)	(141,523,344)
Total Stockholders’ Equity	5,380,563	9,251,911
Total Liabilities and Stockholders’ Equity	10,714,161	12,763,412
Class B Convertible Preferred Stock
Stockholders’ Equity:
Preferred stock, value		100
Class C Preferred Stock
Stockholders’ Equity:
Preferred stock, value
Class K Preferred Stock
Stockholders’ Equity:
Preferred stock, value
Related Party
Current Liabilities:
Accounts payable – related parties	1,093,432	684,181
Loans payable related parties - current portion	$ 650,000

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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