Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.23.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash $ 2,646,184 $ 6,970,110
Prepaid expenses and other current assets 1,550,215 1,958,280
Total Current Assets 4,196,399 8,928,390
Intangible assets, net 1,663,032 1,658,858
In-process research and development 9,063,000 9,063,000
Total Assets 14,922,431 19,650,248
Current Liabilities:    
Accounts payable 1,208,110 1,801,210
Accrued expenses 2,821,013 2,284,516
Accrued expenses - related parties 228,581 188,159
Loans payable - current portion 842,202 1,308,516
Derivative liabilities 22,058 75,381
Total Current Liabilities 5,121,964 5,657,782
Loans payable - noncurrent portion 28,732 31,189
Deferred tax liability 2,631,811 2,617,359
Total Liabilities 7,782,507 8,306,330
Commitments and contingencies (Note 8)
Stockholders’ Equity:    
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; (see designations and shares authorized for Series A, Class C and Class K preferred stock)
Class C Preferred Stock; 1 share authorized, issued and outstanding at March 31, 2023 and December 31, 2022
Class K Preferred Stock; 1 share authorized, issued and outstanding at March 31, 2023 and December 31, 2022
Common stock, $0.0001 par value; 100,000,000 shares authorized; 3,746,906 and 3,746,906 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively 375 375
Additional paid-in capital 122,195,032 121,637,611
Accumulated other comprehensive income (2,884,860) (2,885,523)
Accumulated deficit (112,170,623) (107,408,545)
Total Stockholders’ Equity 7,139,924 11,343,918
Total Liabilities and Stockholders’ Equity $ 14,922,431 $ 19,650,248