Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 15,416,224 $ 691,536
Due from related party 154,730
Due from tax agencies 77,024
Prepaid expenses and other 554,708 315,605
Total Current Assets 16,202,686 1,007,141
Property and Equipment    
Software 19,740 19,740
Office equipment 9,327 9,327
Total Cost 29,067 29,067
Less: accumulated depreciation 28,583 20,137
Property and equipment, net 484 8,930
Other Assets    
Operating lease right-of-use assets, net 158,558 219,074
Intangible assets, net 8,847,126 9,642,454
Security deposit 5,535 5,535
Total Other Assets 9,011,219 9,867,063
Total Assets 25,214,389 10,883,134
Current Liabilities    
Senior convertible notes, net of debt issuance costs 802,503
Note payable - Paycheck Protection Program, current portion 117,574
Current maturities of operating lease liability 87,200 77,992
Accrued interest 950 21,902
Accounts payable 320,694 75,612
Due to licensor 400,000
Due to related parties 69,858 316
Accrued expenses 224,676 213,239
Total Current Liabilities 1,220,952 1,191,564
Non-current Liabilities    
Note payable - Paycheck Protection Program 44,885
Non-current operating lease liability 78,463 147,390
Non-current due to licensor 400,000
Net deferred tax liability 530,611 1,531,630
Total Liabilities 2,274,911 2,870,584
Commitments and Contingencies
Stockholders' Equity    
Common stock, par value $0.0001, 30,000,000 and 100,000,000 shares authorized at December 31, 2020 and 2019, 14,187,984 and 5,486,595 issued and outstanding at December 31, 2020 and 2019, respectively 1,419 549
Additional paid-in capital 48,333,857 18,994,008
Common stock deemed dividend payable: 28,971 shares at par value 3
Accumulated deficit (25,395,798) (10,982,010)
Total Stockholders' Equity 22,939,478 8,012,550
Total Liabilities and Stockholders' Equity $ 25,214,389 $ 10,883,134