Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 20,020,712 $ 23,170,149
Accounts receivable, net 147,162 233,262
Prepayments and other current assets 261,949 43,900
Total current assets 20,429,823 23,447,311
Property and equipment, net 53,265 56,158
Intangible assets, net 2,037,412 2,055,650
Right of use asset 278,388 307,172
Other assets 11,189 11,189
Total assets 22,810,077 25,877,480
Current liabilities:    
Accounts payable 17,764 130,500
Accrued expenses 499,024 353,507
Current portion of lease liability 61,688 58,864
Total current liabilities 578,476 542,871
Long-term lease liability 236,195 267,584
Other long-term liabilities 877,778 917,100
Total liabilities 1,692,449 1,727,555
Commitments and contingencies (Note 6)
Stockholders' equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,905,118 shares issued and 5,903,797 shares outstanding at June 30, 2022 and 5,893,767 shares issued and 5,892,446 shares outstanding at December 31, 2021 5,905 5,894
Additional paid-in capital 104,625,648 104,063,321
Treasury stock, at cost, 1,321 shares at June 30, 2022 and December 31, 2021 (13,210) (13,210)
Accumulated deficit (83,500,715) (79,906,080)
Total stockholders' equity 21,117,628 24,149,925
Total liabilities and stockholders' equity $ 22,810,077 $ 25,877,480