Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 10,614,722 $ 13,255,616
Restricted cash 0 55,000
Prepaid expenses and other current assets 770,951 641,218
Total current assets 11,385,673 13,951,834
Fixed assets, net 435,083 543,339
Right-of-use asset, net 348,841 0
Long-term assets 75,000 540,823
Other assets 6,214 18,086
TOTAL ASSETS 12,250,811 15,054,082
CURRENT LIABILITIES:    
Accounts payable and accrued liabilities 2,663,873 1,543,819
Derivative liability 0 43,000
Capital lease obligations, current portion 0 2,213
Deferred rent 0 33,090
Lease liability 105,885 0
Total current liabilities 2,769,758 1,622,122
LONG-TERM LIABILITIES:    
Deferred rent, less current portion 0 170,999
Lease liability 421,644 0
Total long-term liabilities 421,644 170,999
TOTAL LIABILITIES 3,191,402 1,793,121
COMMITMENTS AND CONTINGENCIES (Note 11)
STOCKHOLDERS' EQUITY:    
Common stock, $0.00001 par value; 80,000,000 shares authorized; 9,386,689 and 4,732,387 shares issued and outstanding at December 31, 2019 and 2018, respectively 94 47
Additional paid-in capital 119,592,366 108,323,208
Accumulated deficit (111,681,255) (97,588,343)
Total stockholders' equity 9,059,409 13,260,961
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 12,250,811 15,054,082
Series C Preferred Stock [Member]    
STOCKHOLDERS' EQUITY:    
Preferred Stock Value $ 1,148,204 $ 2,526,049