Annual report pursuant to Section 13 and 15(d)

Liquidity and Management's Plans

Liquidity and Management's Plans
12 Months Ended
Dec. 31, 2018
Liquidity and Management's Plans [Abstract]  

Note 2 – Liquidity and Management's Plans


As of December 31, 2018, the Company had a cash and investments balance of $22,182,768 and working capital and stockholders' equity of $20,281,189 and $17,962,618 respectively. During the year ended December 31, 2018, the Company incurred a net loss of $15,705,865.  Based on current budget assumptions, projected cash burn, and the cash and investments on hand as of December 31, 2018, the Company believes it has sufficient capital to meet its operating expenses and obligations for the next twelve months from the date of this filing. However, if unanticipated difficulties or circumstances arise the Company may require additional capital sooner to support its operations. If the Company is unable to raise additional capital whenever necessary, it may be forced to decelerate or curtail its research and development activities and/or other operations until such time as additional capital becomes available. There can be no assurance that such a plan will be successful. There is no assurance that additional financing will be available when needed or that the Company will be able to obtain such financing on reasonable terms.