Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets (Unaudited)

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Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 20,235,410 $ 8,474,835
Accounts receivable, net 140,000 70,000
Inventory 109,362 81,450
Prepayments and other current assets 271,729 482,890
Total current assets 20,756,501 9,109,175
Property and equipment, net 350,195 359,225
Intangible assets, net 2,601,308 2,580,066
Right of use asset 170,413 186,570
Other assets 12,757 13,034
Total assets 23,891,174 12,248,070
Current liabilities:    
Accounts payable 382,012 405,098
Accrued expenses 504,418 455,112
Current portion of lease liability 72,263 70,683
Total current liabilities 958,693 930,893
Long-term lease liability 113,744 132,304
Other long-term liabilities 1,108,224 1,125,173
Total liabilities 2,180,661 2,188,370
Commitments and Contingencies  
Stockholders’ equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized; 7,382,699 shares issued and 7,381,378 shares outstanding at March 31, 2024 and 5,998,018 shares issued and 5,996,697 shares outstanding at December 31, 2023 7,383 5,998
Additional paid-in capital 121,235,416 107,116,362
Treasury stock, at cost, 1,321 shares at March 31, 2024 and December 31, 2023 13,210 13,210
Accumulated deficit (99,519,076) (97,049,450)
Total stockholders’ equity 21,710,513 10,059,700
Total liabilities and stockholders’ equity $ 23,891,174 $ 12,248,070