Financials

v3.19.3
Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 769,833 $ 3,258,077
Prepayments and other current assets 129,347 333,877
Current assets of discontinued operations held for sale 0 1,096,323
Total current assets 899,180 4,688,277
Property and equipment, net 52,879 63,214
Intangible assets, net 1,645,555 1,396,409
Right of use asset 303,246 0
Other assets 17,920 17,920
Total assets 2,918,780 6,165,820
Current liabilities:    
Accounts payable 195,540 94,203
Accrued expenses 178,720 167,755
Current portion of lease liability 177,669 0
Current liabilities of discontinued operations held for sale 0 877,755
Total current liabilities 551,929 1,139,713
Long-term lease liability 129,995 0
Other long-term liabilities 651,483 428,163
Total liabilities 1,333,407 1,567,876
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 810,000 shares issued and outstanding at September 30, 2019 and 1,518,430 shares issued and outstanding at December 31, 2018, respectively 810 1,518
Common stock, $0.001 par value; 50,000,000 shares authorized; 1,475,322 shares issued and 1,474,001 shares outstanding at September 30, 2019 and 1,404,479 shares issued and 1,403,158 shares outstanding at December 31, 2018, respectively 1,475 1,404
Additional paid-in capital 68,115,842 68,022,484
Treasury stock, at cost, 1,321 shares at September 30, 2019 and December 31, 2018, respectively (13,210) (13,210)
Accumulated deficit (66,519,544) (63,414,252)
Total stockholders' equity 1,585,373 4,597,944
Total liabilities and stockholders' equity $ 2,918,780 $ 6,165,820

Source

v3.19.3
Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Statements of Operations        
Product revenue $ 0 $ 0 $ 0 $ 0
Cost of product revenue 0 0 0 0
Gross profit 0 0 0 0
Operating expenses:        
Research and development 250,773 326,733 804,741 743,495
General and administrative 471,272 911,763 1,520,325 2,597,174
Total operating expenses 722,045 1,238,496 2,325,066 3,340,669
Loss from continuing operations before interest (722,045) (1,238,496) (2,325,066) (3,340,669)
Interest (income) expense, net 2,763 112 3,072 (36,817)
Loss from continuing operations (724,808) (1,238,608) (2,328,138) (3,303,852)
Loss from discontinued operations (78,796) (1,011,315) (768,047) (2,724,679)
Loss on sale of discontinued operations (9,107) 0 (9,107) 0
Net loss $ (812,711) $ (2,249,923) $ (3,105,292) $ (6,028,531)
Loss from continuing operations per share - basic and fully diluted (in dollars per share) $ (0.49) $ (0.88) $ (1.60) $ (2.36)
Loss from discontinued operations per share - basic and fully diluted (in dollars per share) (0.06) (0.73) (0.53) (1.94)
Net loss per share - basic and fully diluted (in dollars per share) $ (0.55) $ (1.61) $ (2.13) $ (4.30)
Weighted average number of shares outstanding - basic and fully diluted (in dollars) 1,474,001 1,401,348 1,460,507 1,401,060

Source

v3.19.3
Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Loss from continuing operations $ (2,328,138) $ (3,303,852)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 82,913 109,845
Write-off of capitalized patents 0 10,873
Stock-based compensation 156,882 645,349
Decrease in operating assets:    
Prepayments and other current assets 204,530 186,764
Increase (decrease) in operating liabilities:    
Accounts payable 1,337 192,352
Accrued expenses 6,336 (108,489)
Net cash used in operating activities (1,876,140) (2,267,158)
Net cash used in operating activities - discontinued operations (557,096) (2,076,842)
Cash flows from investing activities:    
Purchase of property and equipment (4,253) (1,088)
Acquisition of intangible assets (74,342) (85,913)
Net cash used in investing activities (78,595) (87,001)
Net cash provided by (used in) investing activities - discontinued operations 23,587 (49,865)
Cash flows from financing activities:    
Payment of taxes related to restricted stock vesting 0 (2,616)
Net cash used in financing activities 0 (2,616)
Net decrease in cash and cash equivalents - continuing operations (1,954,735) (2,356,775)
Net decrease in cash and cash equivalents - discontinued operations (533,509) (2,126,707)
Cash and cash equivalents at beginning of period 3,258,077 10,022,247
Cash and cash equivalents at end of period $ 769,833 $ 5,538,765

Source