Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 3,157,256 $ 3,057,682
Accounts receivable, net 170,287  
Prepayments and other current assets 118,883 248,148
Total current assets 3,446,426 3,305,830
Property and equipment, net 37,125 47,302
Intangible assets, net 1,568,903 1,634,378
Right of use asset 79,719 260,310
Other assets   17,920
Total assets 5,132,173 5,265,740
Current liabilities:    
Accounts payable 101,984 182,956
Accrued expenses 475,487 319,135
Current portion of lease liability 82,055 183,119
Total current liabilities 659,526 685,210
Long-term debt 91,407  
Long-term lease liability   82,055
Other long-term liabilities 552,031 609,242
Total liabilities 1,302,964 1,376,507
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized; 3,265,740 shares issued and 3,264,419 shares outstanding at December 31, 2020; 2,101,272 shares issued and 2,099,951 shares outstanding at December 31, 2019 3,266 2,101
Additional paid-in capital 78,974,964 71,242,256
Treasury stock, at cost; 1,321 shares at December 31, 2020 and 2019, respectively (13,210) (13,210)
Accumulated deficit (75,135,811) (67,341,914)
Total stockholders' equity 3,829,209 3,889,233
Total liabilities and stockholders' equity $ 5,132,173 $ 5,265,740