Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets    
Cash and cash equivalents $ 6,503,595 $ 16,497,581
Due from tax agencies 70,274
Prepaid expenses and other 1,883,134 1,759,296
Total Current Assets 8,386,729 18,327,151
Other Assets    
Operating lease right-of-use assets, net 227,587 74,181
Intangible assets, net 8,056,638
Other 5,535 5,535
Total Other Assets 233,122 8,136,354
Total Assets 8,619,851 26,463,505
Current Liabilities    
Current maturities of operating lease liability 78,896 71,078
Accounts payable 327,548 218,905
Due to licensor 189,000 400,000
Due to related parties 51 1,772
Accrued expenses 403,061 279,265
Total Current Liabilities 998,556 971,020
Non-current Liabilities    
Non-current operating lease liability 150,554 7,385
Total Liabilities 1,149,110 978,405
Commitments and Contingencies
Stockholders’ Equity    
Common stock, par value $0.0001, 50,000,000 shares authorized; 16,135,400 issued and 16,035,400 outstanding at December 31, 2022 and 15,710,246 issued and outstanding at December 31, 2021 1,614 1,571
Additional paid-in capital 72,016,688 62,306,861
Treasury stock (300,000)
Accumulated deficit (64,247,561) (36,823,332)
Total Stockholders’ Equity 7,470,741 25,485,100
Total Liabilities and Stockholders’ Equity $ 8,619,851 $ 26,463,505