Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.20.1
Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 3,057,682 $ 3,258,077
Prepayments and other current assets 248,148 333,877
Current assets of discontinued operations held for sale 0 1,096,323
Total current assets 3,305,830 4,688,277
Property and equipment, net 47,302 63,214
Intangible assets, net 1,634,378 1,396,409
Right of use asset 260,310 0
Other assets 17,920 17,920
Total assets 5,265,740 6,165,820
Current liabilities:    
Accounts payable 182,956 94,203
Accrued expenses 319,135 167,755
Current portion of lease liability 183,119 0
Current liabilities of discontinued operations held for sale 0 877,755
Total current liabilities 685,210 1,139,713
Long-term lease liability 82,055 0
Other long-term liabilities 609,242 428,163
Total liabilities 1,376,507 1,567,876
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2019; 1,518,430 shares issued and outstanding at December 31, 2018 0 1,518
Common stock, $0.001 par value; 50,000,000 shares authorized; 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019; 1,404,479 shares issued and 1,403,158 shares outstanding at December 31, 2018 2,101 1,404
Additional paid-in capital 71,242,256 68,022,484
Treasury stock, at cost; 1,321 shares at December 31, 2019 and 2018, respectively (13,210) (13,210)
Accumulated deficit (67,341,914) (63,414,252)
Total stockholders' equity 3,889,233 4,597,944
Total liabilities and stockholders' equity $ 5,265,740 $ 6,165,820