Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 10,741,602 $ 6,503,595
Prepaid expenses and other 1,477,519 1,883,134
Total Current Assets 12,219,121 8,386,729
Property and Equipment, net
Other Assets    
Operating lease right-of-use assets, net of accumulated amortization 207,787 227,587
Security deposit 5,535 5,535
Total Other Assets 213,322 233,122
Total Assets 12,432,443 8,619,851
Current Liabilities    
Current maturities of operating lease liability 81,166 78,896
Accounts payable 316,709 327,548
Due to licensor 189,000 189,000
Due to related parties $ 51
Other Liability, Current, Related and Nonrelated Party Status [Extensible Enumeration]   Related Party [Member]
Accrued expenses 1,573,961 $ 403,061
Total Current Liabilities 2,160,836 998,556
Non-current Liabilities    
Non-current operating lease liability 129,358 150,554
Total Liabilities 2,290,194 1,149,110
Commitments and Contingencies
Stockholders’ Equity    
Common stock, par value $0.0001, 50,000,000 shares authorized: 24,631,474 issued and 24,531,474 outstanding at March 31, 2023 and 16,135,400 issued and 16,035,400 outstanding at December 31, 2022 2,463 1,614
Additional paid-in capital 78,709,420 72,016,688
Treasury stock at cost — 100,000 shares at March 31, 2023 and December 31, 2022 (300,000) (300,000)
Accumulated deficit (68,269,634) (64,247,561)
Total Stockholders’ Equity 10,142,249 7,470,741
Total Liabilities and Stockholders’ Equity $ 12,432,443 $ 8,619,851