Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 23,170,149 $ 3,157,256
Accounts receivable, net 233,262 170,287
Prepayments and other current assets 43,900 118,883
Total current assets 23,447,311 3,446,426
Property and equipment, net 56,158 37,125
Intangible assets, net 2,055,650 1,568,903
Right of use asset 307,172 79,719
Other assets 11,189  
Total assets 25,877,480 5,132,173
Current liabilities:    
Accounts payable 130,500 101,984
Accrued expenses 353,507 475,487
Current portion of lease liability 58,864 82,055
Total current liabilities 542,871 659,526
Long-term debt   91,407
Long-term lease liability 267,584  
Other long-term liabilities 917,100 552,031
Total liabilities 1,727,555 1,302,964
Commitments and contingencies (Note 8)
Stockholders' equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,893,767 shares issued and 5,892,446 shares outstanding at December 31, 2021; 3,265,740 shares issued and 3,264,419 shares outstanding at December 31, 2020 5,894 3,266
Additional paid-in capital 104,063,321 78,974,964
Treasury stock, at cost; 1,321 shares at December 31, 2021 and 2020, respectively (13,210) (13,210)
Accumulated deficit (79,906,080) (75,135,811)
Total stockholders' equity 24,149,925 3,829,209
Total liabilities and stockholders' equity $ 25,877,480 $ 5,132,173