Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v3.19.1
Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 2,228,664 $ 3,258,077
Prepayments and other current assets 332,833 333,877
Current assets of discontinued operations held for sale [1] 727,943 1,096,323
Total current assets 3,289,440 4,688,277
Property and equipment, net 55,600 63,214
Intangible assets, net 1,411,263 1,396,409
Right of use asset 386,624 0
Other assets 17,920 17,920
Total assets 5,160,847 6,165,820
Current liabilities:    
Accounts payable 130,456 94,203
Accrued expenses 177,828 167,755
Current portion of lease liability 167,090 0
Current liabilities of discontinued operations held for sale 501,436 877,755
Total current liabilities 976,810 1,139,713
Long-term lease liability 221,828 0
Other long-term liabilities 430,978 428,163
Total liabilities 1,629,616 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 March 31, 2019 and 1,518,430 shares issued at December 31, 2018, respectively 810 1,518
Common stock, $0.001 par value; 50,000,000 shares authorized; 14,736,020 shares issued and 14,722,840 shares outstanding at March 31, 2019 and 14,027,590 shares issued and 14,014,410 shares outstanding at December 31, 2018, respectively 14,736 14,028
Additional paid-in capital 67,984,046 68,009,860
Treasury stock, at cost, 13,180 shares at March 31, 2019 and December 31, 2018, respectively (13,210) (13,210)
Accumulated deficit (64,455,151) (63,414,252)
Total stockholders' equity 3,531,231 4,597,944
Total liabilities and stockholders' equity $ 5,160,847 $ 6,165,820
[1] The assets of the discontinued operations classified as held for sale are classified as current on the March 31, 2019 and December 31, 2018 balance sheets because it is probable that the sale will occur and proceeds will be collected within one year.