Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 2,108,544 $ 83,397
Due from related parties 300,000 73,248
Notes receivable, net (see Note 6)
Prepaid expenses and other current assets 1,606,414 591,648
Total Current Assets 4,014,958 748,293
Property and equipment, net 54,307
Intangible assets, net 2,047,818 2,121,834
In-process research and development 12,569,793 12,536,950
Goodwill 36,900,801 36,423,084
Total Assets 55,533,370 51,884,468
Current Liabilities:    
Accounts payable 8,529,259 4,103,566
Accounts payable - related parties 215,495 123,035
Accrued expenses 4,110,916 1,691,466
Accrued expenses - related parties 454,951 177,074
Due to related parties 17,341
Loans payable - current portion 968,446 116,250
Loans payable - related parties 513,082 220,525
Convertible notes payable, net of debt discount 1,916,195 2,736,946
Convertible notes payable - related parties 270,000 454,604
Derivative liabilities 4,442,970
Total Current Liabilities 21,421,314 9,640,807
Accrued issuable equity 43,095
Loans payable - non current portion 113,763
Deferred tax liability 3,668,329 3,672,759
Total Liabilities 25,246,501 13,313,566
Commitments and contingencies (see Note 14)
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) Series A Convertible Prefered Stock, $0.0001 par value; 1,000,000 shares designated; 0 shares issued and outstanding at December 31, 2020 and 2019; none available at December 31, 2020
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 December 31, 2020 and 2019
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 K Preferred Stock; 1 share authorized, issued and outstanding at December 31, 2020 and 2019
Common stock, $0.0001 par value; 100,000,000 shares authorized; 26,171,225 and 13,846,925 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively 2,617 1,384
Additional paid-in capital 78,005,004 75,890,295
Accumulated other comprehensive income 636,886 152,803
Accumulated deficit (48,357,638) (37,473,580)
Total Stockholders’ Equity 30,286,869 38,570,902
Total Liabilities and Stockholders’ Equity $ 55,533,370 $ 51,884,468