Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.19.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 2,018,133 $ 571,605
Restricted cash 66,510 66,510
Prepaid expenses and other 1,116,758 555,856
Total current assets 3,201,401 1,193,971
Property and equipment, net 3,498 4,956
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 724,786 705,660
Total assets 16,456,192 14,431,094
Current liabilities:    
Accounts payable 1,040,289 934,147
Accrued expenses and other current liabilities 965,738 665,641
Total current liabilities 2,006,027 1,599,788
Deferred tax liability 2,918,518 2,918,518
Other liabilities 13,119 0
Total liabilities 4,937,664 4,518,306
Commitments (Note 11)
Stockholders' equity:    
Common stock, $0.001 par value; 45,454,546 shares authorized as of March 31, 2019 and December 31, 2018; 10,767,774 and 9,727,774 shares issued as of March 31, 2019 and December 31, 2018, respectively; 10,443,889 and 9,403,889 shares outstanding as of March 31, 2019 and December 31, 2018, respectively 10,766 9,726
Additional paid in capital 171,093,279 168,161,329
Accumulated deficit (154,560,845) (153,233,595)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 11,518,528 9,912,788
Total liabilities and stockholders' equity 16,456,192 14,431,094
Series B [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized 1,804 1,804
Series A [Member]    
Stockholders' equity:    
Preferred stock, 10,000,000 shares authorized $ 970 $ 970