Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 14,394,655 $ 16,497,581
Due from tax agencies 70,274
Prepaid expenses and other 1,989,466 1,759,296
Total Current Assets 16,384,121 18,327,151
Other Assets    
Operating lease right-of-use assets, net of accumulated amortization 51,622 74,181
Intangible assets, net of accumulated amortization 7,859,514 8,056,638
Security deposit 5,535 5,535
Total Other Assets 7,916,671 8,136,354
Total Assets 24,300,792 26,463,505
Current Liabilities    
Current maturities of operating lease liability 49,121 71,078
Accounts payable 316,092 218,905
Due to licensor 400,000 400,000
Due to related parties 1,772
Accrued expenses 292,566 279,265
Total Current Liabilities 1,057,779 971,020
Non-current Liabilities    
Non-current operating lease liability 6,147 7,385
Total Liabilities 1,063,926 978,405
Commitments and Contingencies
Stockholders’ Equity    
Common stock, par value $0.0001, 50,000,000 shares authorized: 15,937,525 issued and 15,837,525 outstanding at March 31, 2022 and 15,710,246 issued and outstanding at December 31, 2021 1,593 1,571
Additional paid-in capital 63,585,736 62,306,861
Treasury stock at cost — 100,000 shares at March 31, 2022 (300,000)
Accumulated deficit (40,050,463) (36,823,332)
Total Stockholders’ Equity 23,236,866 25,485,100
Total Liabilities and Stockholders’ Equity $ 24,300,792 $ 26,463,505