Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 8,677,133 $ 6,503,595
Prepaid expenses and other 1,220,150 1,883,134
Total Current Assets 9,897,283 8,386,729
Property and Equipment, net
Other Assets    
Operating lease right-of-use assets, net 187,605 227,587
Security deposit 5,535 5,535
Total Other Assets 193,140 233,122
Total Assets 10,090,423 8,619,851
Current Liabilities    
Current maturities of operating lease liability 81,890 78,896
Accounts payable 239,022 327,548
Due to licensor 189,000 189,000
Due to related parties $ 51
Other Liability, Current, Related Party, Type [Extensible Enumeration]   Related Party [Member]
Accrued expenses 311,502 $ 403,061
Total Current Liabilities 821,414 998,556
Non-current Liabilities    
Non-current operating lease liability 109,327 150,554
Total Liabilities 930,741 1,149,110
Commitments and Contingencies
Stockholders’ Equity    
Common stock, par value $0.0001, 100,000,000 shares authorized: 24,631,474 issued and 24,531,474 outstanding at June 30, 2023, and 16,135,400 issued and 16,035,400 outstanding at December 31, 2022 2,463 1,614
Additional paid-in capital 80,339,418 72,016,688
Treasury stock at cost — 100,000 shares at June 30, 2023 and December 31, 2022 (300,000) (300,000)
Accumulated deficit (70,882,199) (64,247,561)
Total Stockholders’ Equity 9,159,682 7,470,741
Total Liabilities and Stockholders’ Equity $ 10,090,423 $ 8,619,851