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, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 6,860,672 $ 6,503,595
Prepaid expenses and other 1,046,790 1,883,134
Total Current Assets 7,907,462 8,386,729
Property and Equipment, net 2,694
Other Assets    
Operating lease right-of-use assets, net 167,035 227,587
Security deposit 5,535 5,535
Total Other Assets 172,570 233,122
Total Assets 8,082,726 8,619,851
Current Liabilities    
Current maturities of operating lease liability 82,744 78,896
Accounts payable 346,299 327,548
Due to licensor 189,000 189,000
Due to related parties 5,791 51
Accrued expenses 202,236 403,061
Total Current Liabilities 826,070 998,556
Non-current Liabilities    
Non-current operating lease liability 88,777 150,554
Total Liabilities 914,847 1,149,110
Commitments and Contingencies
Stockholders’ Equity    
Common stock, par value $0.0001, 100,000,000 shares authorized: 24,731,474 issued and 24,631,474 outstanding at September 30, 2023, and 16,135,400 issued and 16,035,400 outstanding at December 31, 2022 2,473 1,614
Additional paid-in capital 80,429,556 72,016,688
Treasury stock at cost — 100,000 shares at September 30, 2023 and December 31, 2022 (300,000) (300,000)
Accumulated deficit (72,964,150) (64,247,561)
Total Stockholders’ Equity 7,167,879 7,470,741
Total Liabilities and Stockholders’ Equity $ 8,082,726 $ 8,619,851