Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.20.1
Condensed Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 10,168,766 $ 12,563,853
Prepaid expenses and other current assets 297,897 361,311
Total current assets 10,466,663 12,925,164
Property and equipment, net 487,172 523,677
Intangible assets, net 18,884 19,154
Other assets 67,403 64,242
Total assets 11,040,122 13,532,237
Current liabilities:    
Accounts payable 462,124 444,776
Accrued liabilities 910,674 916,692
Accrued payroll and other compensation 573,320 677,755
Current portion of note payable, net of debt discount and offering costs of $5,555 and $0 as of March 31, 2020 and December 31, 2019, respectively 79,445
Total current liabilities 2,025,563 2,039,223
Notes payable, net of current portion and net of debt discount and offering costs of $449,475 and $546,312 as of March 31, 2020 and December 31, 2019, respectively 3,368,025 3,356,188
Total liabilities 5,393,588 5,395,411
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value, Authorized 5,000,000 shares; No shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively
Common stock, $0.001 par value, Authorized 75,000,000 shares; Issued and outstanding 43,141,399 shares as of March 31, 2020 and 43,069,418 as of December 31, 2019 43,141 43,069
Additional paid-in capital 62,814,281 61,087,082
Accumulated deficit (57,210,888) (52,993,325)
Total stockholders' equity 5,646,534 8,136,826
Total liabilities and stockholders' equity $ 11,040,122 $ 13,532,237