Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 1,191,325 $ 4,706,197
Prepaid expenses and other 682,294 926,300
Total Current Assets 1,873,619 5,632,497
Property and Equipment, net 5,016 2,554
Non-current Assets    
Prepaid expenses 1,274,442
Total Non-current Assets 1,274,442
Other Assets    
Operating lease right-of-use assets, net 70,677 146,057
Other 5,535 5,535
Total Other Assets 76,212 151,592
Total Assets 3,229,289 5,786,643
Current Liabilities    
Current maturities of lease liability 73,020 83,649
Accounts payable 880,880 311,617
Due to licensor 189,000
Due to related parties 39
Accrued expenses 578,731 146,274
Total Current Liabilities 1,532,631 730,579
Non-current Liabilities    
Non-current lease liability 487 66,905
Total Liabilities 1,533,118 797,484
Commitments and Contingencies
Stockholders’ Equity    
Preferred stock, par value $0.0001, 1,000,000 shares authorized; no shares issued or outstanding at December 31, 2024 or December 31, 2023
Common stock, par value $0.0001, 100,000,000 shares authorized; 3,707,628 issued and 3,702,628 outstanding at December 31, 2024 and 1,291,000 issued and 1,286,000 outstanding at December 31, 2023 371 129
Additional paid-in capital 89,214,999 80,658,111
Treasury stock, 5,000 shares (300,000) (300,000)
Accumulated deficit (87,219,199) (75,369,081)
Total Stockholders’ Equity 1,696,171 4,989,159
Total Liabilities and Stockholders’ Equity $ 3,229,289 $ 5,786,643