Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.22.2.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current Assets:    
Cash and cash equivalents $ 5,752,665 $ 6,062,173
Prepaid research and development 516,500 9,931
Prepaid expenses and other current assets 504,104 389,501
Total Current Assets 6,773,269 6,461,605
Other Assets:    
Fixed Assets, net 52,355 58,149
Intangible assets, net 4,618 5,041
Acquired in-process research and development 455,000 455,000
Right-to-use Asset 207,471 246,209
Goodwill 248,971 248,971
Total Assets 7,741,684 7,474,975
Current Liabilities:    
Accounts payable 278,200 286,192
Accrued expenses 955,405 2,376,930
Accrued expenses, related party 30,000
Lease liability, current 54,961 49,585
Other current liabilities 8,386 9,683
Total Current Liabilities 1,326,952 2,722,390
Contingent liabilities 817,000 1,014,000
Lease liability, non-current 165,288 207,375
Deferred tax liability 23,399 23,399
Total Liabilities 2,332,639 3,967,164
Commitments and contingencies (footnote 7)
Shareholders’ Equity    
Preferred Stock, 5,000,000 shares authorized with a par value of $0.001 per share, 0 shares outstanding at September 30, 2022 and December 31, 2021
Common Stock, 50,000,000 shares authorized with a par value of $0.001 per share, 26,853,962 and 20,946,712 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively 26,854 20,947
Additional paid in capital 66,190,027 54,429,979
Accumulated deficit (60,807,836) (50,943,115)
Total Shareholders’ Equity 5,409,045 3,507,811
Total Liabilities and Shareholders’ Equity $ 7,741,684 $ 7,474,975