Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 571,605 $ 5,533,062
Restricted cash 66,510 66,510
Prepaid expenses and other 555,856 285,005
Total current assets 1,193,971 5,884,577
Property and equipment, net 4,956 27,846
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 705,660 724,713
Total assets 14,431,094 19,163,643
Current liabilities:    
Accounts payable 934,147 786,779
Accrued expenses 664,029 1,135,653
Other current liabilities 1,612 21,234
Total current liabilities 1,599,788 1,943,666
Deferred tax liability 2,918,518 2,918,518
Total liabilities 4,518,306 4,862,184
Commitments and contingent liabilities (Note 12)
Stockholders' equity:    
Common stock, $0.001 par value; 45,454,546 shares authorized as of December 31, 2018 and December 31, 2017; 9,727,774 and 9,041,426 shares issued as of December 31, 2018 and December 31, 2017, respectively; 9,403,889 and 8,717,541 shares outstanding as of December 31, 2018 and December 31, 2017, respectively 9,726 9,040
Additional paid in capital 168,161,329 165,249,912
Accumulated deficit (153,233,595) (145,933,137)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 9,912,788 14,301,459
Total liabilities and stockholders' equity 14,431,094 19,163,643
Preferred Class A [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized; Series B, $0.001 par value: 1,804,394 and 2,120,742 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively; Series A, $0.001 par value: 970,000 shares issued and outstanding as of December 31, 2018 and December 31, 2017 970 970
Preferred Class B [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized; Series B, $0.001 par value: 1,804,394 and 2,120,742 shares issued and outstanding as of December 31, 2018 and December 31, 2017, respectively; Series A, $0.001 par value: 970,000 shares issued and outstanding as of December 31, 2018 and December 31, 2017 $ 1,804 $ 2,120