v3.19.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash $ 1,034,218 $ 571,605
Restricted cash 0 66,510
Prepaid expenses and other 1,354,535 555,856
Total current assets 2,388,753 1,193,971
Property and equipment, net 2,544 4,956
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 715,390 705,660
Total assets 15,633,194 14,431,094
Current liabilities:    
Accounts payable 1,023,757 934,147
Accrued expenses and other current liabilities 1,293,950 665,641
Total current liabilities 2,317,707 1,599,788
Deferred tax liability 2,918,518 2,918,518
Other liabilities 6,178 0
Total liabilities 5,242,403 4,518,306
Commitments (Note 11)
Stockholders' equity:    
Common stock, $0.001 par value; 12,500,000 shares authorized as of June 30, 2019 and December 31, 2018; 949,218 and 810,856 shares issued as of June 30, 2019 and December 31, 2018, respectively; 922,227 and 783,865 shares outstanding as of June 30, 2019 and December 31, 2018, respectively 948 811
Additional paid in capital 171,352,760 168,170,244
Accumulated deficit (155,938,245) (153,233,595)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 10,390,791 9,912,788
Total liabilities and stockholders' equity 15,633,194 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

v3.19.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating costs and expenses:        
Research and development $ (487,519) $ (927,069) $ (951,301) $ (1,633,340)
General and administrative (890,779) (1,066,517) (1,754,152) (2,188,589)
Loss from operations (1,378,298) (1,993,586) (2,705,453) (3,821,929)
Other income (expense):        
Other income (expense) 735 (32,529) 490 (27,131)
Interest income (expense) 163 (61) 313 366
Total other income (expense) 898 (32,590) 803 (26,765)
Net loss (1,377,400) (2,026,176) (2,704,650) (3,848,694)
Deemed dividend     (3,879,447)  
Net loss applicable to common stockholders $ (1,377,400) $ (2,026,176) $ (6,584,097) $ (3,848,694)
Basic and diluted loss per share $ (1.56) $ (2.78) $ (7.79) $ (5.29)
Weighted-average shares of common stock outstanding, basic and diluted 882,107 728,929 844,749 727,697

Source

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,704,650) $ (3,848,694)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,412 11,399
Amortization of right of use asset 10,179 0
Gain on sale of property and equipment (2,000) 0
Share-based expense 450,667 816,949
Vendor share-based expense 32,427 34,854
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (775,258) (379,875)
Accounts payable, accrued expenses and other liabilities 680,767 (389,574)
Net cash used in operating activities (2,305,456) (3,754,941)
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 2,699,559 1,480,000
Net cash provided by financing activities 2,699,559 1,480,000
Net change in cash and restricted cash 396,103 (2,274,941)
Cash and restricted cash at beginning of period 638,115 5,599,572
Cash and restricted cash at end of period 1,034,218 3,324,631
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 8 678
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Right of use asset acquired in exchange for lease liability 43,330 0
Conversion of Series B preferred stock to common stock $ 0 $ 316

Source