Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.21.2
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating Expenses:    
Research and development $ 2,217,371 $ 1,981,299
Research and development - related parties 75,633 54,020
General and administrative 3,169,260 5,607,808
General and administrative - related parties 185,848 286,745
Modification of stock award - related party 12,959,360
Rental income - related parties (25,946)
Total Operating Expenses 5,648,112 20,863,286
Loss From Operations (5,648,112) (20,863,286)
Other (Expense) Income:    
Gain (loss) on sale and disposal of property and equipment (37,174) 1,714
Other income 15,334  
Other income - related parties 240,000 552,329
Interest income   3,727
Interest expense (1,002,424) (162,066)
Interest expense - related parties (84,550) (23,074)
Loss on extinguishment of convertible notes payable, net (2,580,655) (703,188)
Change in fair value of derivative liabilities (1,816,309)  
Change in fair value of accrued issuable equity 9,405 (327,879)
Change in fair value of accrued issuable equity - related parties   (3,881,819)
Total Other Expense, Net (5,256,373) (4,540,256)
Loss Before Income Taxes (10,904,485) (25,403,542)
Income tax benefit 20,427 9,496
Net Loss (10,884,058) (25,394,046)
Deemed dividend related to the Series A Convertible Preferred Stock (1,122,702)  
Net Loss Attributable to Common Stockholders (12,006,760) (25,394,046)
Net Loss (10,884,058) (25,394,046)
Other Comprehensive Income (Loss):    
Foreign currency translation adjustments 484,083 (160,745)
Total Comprehensive Loss $ (10,399,975) $ (25,554,791)
Basic and Diluted Net Loss per Common Share (in Dollars per share) $ (0.66) $ (2.30)
Weighted Average Number of Common Shares Outstanding: (in Shares) 18,154,056 11,035,289