Quarterly report [Sections 13 or 15(d)]

Balance Sheets (Current Period Unaudited)

v3.25.1
Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 13,696,852 $ 15,842,850
Accounts receivable, net 8,535 692
Inventory 89,337 96,406
Prepayments and other current assets 313,034 356,658
Total current assets 14,107,758 16,296,606
Property and equipment, net 389,579 415,232
Intangible assets, net 2,615,852 2,611,998
Right of use asset 462,621 483,497
Other assets 18,570 19,351
Total assets 17,594,380 19,826,684
Current Liabilities:    
Accounts payable 155,707 104,117
Accrued expenses 455,219 374,012
Current portion of lease liability 85,270 82,681
Total current liabilities 696,196 560,810
Long-term lease liability 381,128 403,335
Other long-term liabilities 989,667 1,007,375
Total liabilities 2,066,991 1,971,520
Commitments and Contingencies  
us-gaap_StockholdersEquityAbstract    
Common stock, $0.001 par value; 50,000,000 shares authorized; 8,349,291 shares issued and 8,347,970 shares outstanding at March 31, 2025 and 8,336,812 shares issued and 8,335,491 shares outstanding at December 31, 2024 8,349 8,337
Additional paid-in capital 125,702,537 125,327,300
Treasury stock, at cost, 1,321 shares at March 31, 2025 and December 31, 2024 13,210 13,210
Accumulated deficit (110,170,287) (107,467,263)
Total stockholders’ equity 15,527,389 17,855,164
Total liabilities and stockholders’ equity $ 17,594,380 $ 19,826,684