Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 9,054,576 $ 16,497,581
Due from tax agencies 70,274
Prepaid expenses and other 1,832,109 1,759,296
Total Current Assets 10,886,685 18,327,151
Property and Equipment, net
Other Assets    
Operating lease right-of-use assets, net of accumulated amortization 246,979 74,181
Intangible assets, net of accumulated amortization 7,465,266 8,056,638
Security deposit 5,535 5,535
Total Other Assets 7,717,780 8,136,354
Total Assets 18,604,465 26,463,505
Current Liabilities    
Current maturities of operating lease liability 76,260 71,078
Accounts payable 311,066 218,905
Due to licensor 589,000 400,000
Due to related parties 1,772
Accrued expenses 216,407 279,265
Total Current Liabilities 1,192,733 971,020
Non-current Liabilities    
Non-current operating lease liability 171,707 7,385
Total Liabilities 1,364,440 978,405
Commitments and Contingencies
Stockholders’ Equity    
Common stock, par value $0.0001, 50,000,000 shares authorized: 15,995,087 issued and 15,895,087 outstanding at September 30, 2022, and 15,710,246 issued and outstanding at December 31, 2021 1,600 1,571
Additional paid-in capital 68,773,666 62,306,861
Treasury stock at cost — 100,000 shares at September 30, 2022 (300,000)
Accumulated deficit (51,235,241) (36,823,332)
Total Stockholders’ Equity 17,240,025 25,485,100
Total Liabilities and Stockholders’ Equity $ 18,604,465 $ 26,463,505