Financials

v3.20.2
Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 1,793,582 $ 3,057,682
Prepayments and other current assets 223,838 248,148
Total current assets 2,017,420 3,305,830
Property and equipment, net 46,078 47,302
Intangible assets, net 1,594,085 1,634,378
Right of use asset 171,849 260,310
Other assets   17,920
Total assets 3,829,432 5,265,740
Current liabilities:    
Accounts payable 47,333 182,956
Accrued expenses 327,328 319,135
Current portion of lease liability 176,989 183,119
Total current liabilities 551,650 685,210
Long-term debt 96,407  
Long-term lease liability   82,055
Other long-term liabilities 603,917 609,242
Total liabilities 1,251,974 1,376,507
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized; 2,353,306 shares issued and 2,351,985 shares outstanding at June 30, 2020, and 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019, respectively 2,353 2,101
Additional paid-in capital 71,693,988 71,242,256
Treasury stock, at cost, 1,321 shares at June 30, 2020 and December 31, 2019 (13,210) (13,210)
Accumulated deficit (69,105,673) (67,341,914)
Total stockholders' equity 2,577,458 3,889,233
Total liabilities and stockholders' equity $ 3,829,432 $ 5,265,740

Source

v3.20.2
Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Statements of Operations        
Revenue, Product and Service [Extensible List] us-gaap:GrantMember us-gaap:GrantMember us-gaap:GrantMember us-gaap:GrantMember
Grant revenue $ 6,515   $ 6,515 $ 0
Cost, Product and Service [Extensible List] us-gaap:GrantMember us-gaap:GrantMember us-gaap:GrantMember us-gaap:GrantMember
Cost of grant revenue $ 6,515   $ 6,515  
Operating expenses:        
Research and development 316,325 $ 335,752 666,989 $ 553,968
General and administrative 515,878 580,663 1,095,648 1,049,053
Total operating expenses 832,203 916,415 1,762,637 1,603,021
Loss from continuing operations before interest (832,203) (916,415) (1,762,637) (1,603,021)
Interest (income) expense, net 1,055 (6,809) 1,122 309
Loss from continuing operations (833,258) (909,606) (1,763,759) (1,603,330)
Loss from discontinued operations   (342,076)   (689,251)
Net loss $ (833,258) $ (1,251,682) $ (1,763,759) $ (2,292,581)
Loss from continuing operations per share - basic and fully diluted (in dollars per share) $ (0.28) $ (0.62) $ (0.59) $ (1.10)
Loss from discontinued operations per share - basic and fully diluted (in dollars per share)   (0.23)   (0.48)
Net loss per share - basic and fully diluted $ (0.28) $ (0.85) $ (0.59) $ (1.58)
Weighted average number of shares outstanding - basic and fully diluted (in shares) 2,998,350 1,474,001 2,983,372 1,453,648

Source

v3.20.2
Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Loss from continuing operations $ (1,763,759) $ (1,603,330)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 57,248 56,497
Write-off of capitalized patents 18,235 0
Stock-based compensation 226,168 140,190
Stock issued for services 50,000 0
Decrease in operating assets:    
Prepayments and other current assets 42,230 112,347
Increase (decrease) in operating liabilities:    
Accounts payable (135,623) 2,836
Accrued expenses 3,144 (7,588)
Net cash used in operating activities (1,502,357) (1,299,048)
Net cash used in operating activities - discontinued operations 0 (465,328)
Cash flows from investing activities:    
Purchase of property and equipment (10,678) (1,194)
Acquisition of intangible assets (23,288) (54,710)
Net cash used in investing activities (33,966) (55,904)
Cash flows from financing activities:    
Proceeds from loans 96,407 0
Proceeds from the exercise of warrants 175,816 0
Net cash provided by financing activities 272,223 0
Net decrease in cash and cash equivalents - continuing operations (1,264,100) (1,354,952)
Net decrease in cash and cash equivalents - discontinued operations 0 (465,328)
Cash and cash equivalents at beginning of period 3,057,682 3,258,077
Cash and cash equivalents at end of period $ 1,793,582 $ 1,437,797

Source