Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 2,598,864 $ 4,273,012
Accrued interest receivable 14,367
Prepaid expenses and other current assets 58,802 61,433
Total current assets 2,672,033 4,334,445
Prepaid expense, less current portion 2,293
Total assets 2,672,033 4,336,738
Current liabilities:    
Accounts payable and accrued expenses 143,549 195,211
Research and development contract liabilities 94,349 15,704
Total current liabilities 237,898 210,915
Commitments and contingencies
Stockholders' equity:    
Preferred Stock, $0.0001 par value; authorized - 10,000,000 shares; issued and outstanding - 350,000 shares of Series A Convertible Preferred Stock, $10.00 per share stated value, $50.00 per share cash redemption value; aggregate cash redemption value - $17,500,000; liquidation preference based on assumed conversion into common shares - 4,375,000 shares 3,500,000 3,500,000
Common stock, $0.0001 par value; authorized - 100,000,000 shares; issued and outstanding - 67,045,814 shares 6,704 6,704
Additional paid-in capital 26,016,317 25,267,662
Accumulated deficit (27,088,886) (24,648,543)
Total stockholders' equity 2,434,135 4,125,823
Total liabilities and stockholders' equity $ 2,672,033 $ 4,336,738