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

Source

v3.19.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating costs and expenses:    
Research and development $ (463,782) $ (706,271)
General and administrative (863,373) (1,122,072)
Loss from operations (1,327,155) (1,828,343)
Other income (expense):    
Other income (expense) (245) 5,398
Interest income 150 427
Total other income (expense) (95) 5,825
Net loss (1,327,250) (1,822,518)
Deemed dividend (3,879,447) 0
Net loss applicable to common stockholders $ (5,206,697) $ (1,822,518)
Basic and diluted loss per share $ (0.54) $ (0.21)
Weighted-average shares of common stock outstanding, basic and diluted 9,681,222 8,717,541

Source

v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,327,250) $ (1,822,518)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,458 5,723
Gain on sale of property and equipment (2,000) 0
Share-based expense 243,089 383,850
Warrant-based income (expense) for services (26,576) 4,917
Vendor share-based expense 17,427 17,427
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (536,698) (51,888)
Accounts payable, accrued expenses and other liabilities 376,028 (204,314)
Net cash used in operating activities (1,254,522) (1,666,803)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of property and equipment 2,000 0
Net cash provided by investing activities 2,000 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock and warrants 2,699,050 0
Net cash provided by financing activities 2,699,050 0
Net change in cash and restricted cash 1,446,528 (1,666,803)
Cash and restricted cash at beginning of period 638,115 5,599,572
Cash and restricted cash at end of period 2,084,643 3,932,769
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 8 671
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Right of use asset acquired in exchange for lease liability $ 43,330 $ 0

Source