Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents $ 7,092,099 $ 10,614,722
Prepaid expenses and other current assets 771,337 770,951
Total current assets 7,863,436 11,385,673
Fixed assets, net 411,700 435,083
Right-of-use asset, net 333,199 348,841
Long-term assets 81,214 75,000.000
Other assets 0 6,214
TOTAL ASSETS 8,689,549 12,250,811
CURRENT LIABILITIES:    
Accounts payable and accrued liabilities 2,941,395 2,663,873
Lease liability 109,257 105,885
Total current liabilities 3,050,652 2,769,758
LONG-TERM LIABILITIES:    
Lease liability 392,950 421,644
Total long-term liabilities 392,950 421,644
TOTAL LIABILITIES 3,443,602 3,191,402
COMMITMENTS AND CONTINGENCIES (Note 7)
STOCKHOLDERS' EQUITY:    
Common stock, $0.00001 par value; 80,000,000 shares authorized; 9,396,015 and 9,386,689 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively 94 94
Additional paid-in capital 119,736,512 119,592,366
Accumulated deficit (115,638,863) (111,681,255)
Total stockholders' equity 5,245,947 9,059,409
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 8,689,549 12,250,811
Series C Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Series C preferred stock: 215 issued and outstanding as of March 31, 2020 and December 31, 2019 $ 1,148,204 $ 1,148,204