Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 16,345,623 $ 23,170,149
Accounts receivable, net 65,936 233,262
Prepayments and other current assets 491,365 43,900
Total current assets 16,902,924 23,447,311
Property and equipment, net 200,103 56,158
Intangible assets, net 2,036,431 2,055,650
Right of use asset 248,720 307,172
Other assets 11,189 11,189
Total assets 19,399,367 25,877,480
Current liabilities:    
Accounts payable 130,503 130,500
Accrued expenses 254,218 353,507
Loss: current portion of lease liability 64,597 58,864
Total current liabilities 449,318 542,871
Long-term lease liability 202,987 267,584
Other long-term liabilities 838,458 917,100
Total liabilities 1,490,763 1,727,555
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2022 and 2021
Common stock, $0.001 par value; 50,000,000 shares authorized; 5,926,001 shares issued and 5,924,680 shares outstanding at December 31, 2022 and 5,893,767 shares issued and 5,892,446 shares outstanding at December 31, 2021 5,926 5,894
Additional paid-in capital 105,011,318 104,063,321
Treasury stock, at cost; 1,321 shares at December 31, 2022 and 2021, respectively (13,210) (13,210)
Accumulated deficit (87,095,430) (79,906,080)
Total stockholders' equity 17,908,604 24,149,925
Total liabilities and stockholders' equity $ 19,399,367 $ 25,877,480