Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash and Cash Equivalents $ 7,854,690 $ 1,185,677
Prepaid Expenses and Other Current Assets 606,520 449,569
Other Receivables 529,560 90,975
Total Current Assets 8,990,770 1,726,221
Property and Equipment, Net 73,999 30,566
Restricted Cash 45,000 45,000
Goodwill 0 3,484,607
Intangible Assets and In-Process R&D, Net 8,695,850 9,730,164
Operating Lease Assets with Right-of-Use 209,411 83,928
Other Assets 42,964 57,073
Total Assets 18,057,994 15,157,559
Current Liabilities:    
Accounts Payable 160,621 434,763
Accrued Expenses 1,330,141 1,289,261
Operating Lease Liabilities 118,846 48,303
Total Current Liabilities 1,609,608 1,772,327
Non-Current Liabilities:    
Contingent Consideration 6,518,770 5,342,950
Deferred Tax Liability 614,436 728,926
Paycheck Protection Program Loan   278,190
Non-Current Operating Lease Liabilities 90,566 35,625
Total Non-Current Liabilities 7,223,772 6,385,691
Total Liabilities 8,833,380 8,158,018
Commitments and Contingencies (Note 11)
Stockholders' Equity:    
Preferred Stock, $0.01 Par Value: 10,000,000 shares authorized at December 31, 2021 and 2020; 3,750 designated Series A, 0 shares issued and outstanding at December 31, 2021 and 2020, 10,000 designated Series B, 0 shares issued and outstanding at December 31, 2021 and 2020; 10,000 shares designated Series C, 0 shares issued and outstanding at December 31, 2021 and 2020, 20,000 shares designated Series D, 7 and 41,386 shares issued and outstanding at December 31, 2021 and 2020, respectively   41
Common Stock, $0.01 Par Value: 50,000,000 shares authorized at December 31, 2021 and 2020; 12,663,965 and 5,556,394 shares issued and outstanding at December 31, 2021 and 2020, respectively 126,640 55,564
Additional Paid-In Capital 133,918,158 115,283,572
Accumulated Deficit (124,733,753) (108,338,834)
Accumulated Other Comprehensive Income (86,431) (802)
Total Stockholders' Equity 9,224,614 6,999,541
Total Liabilities and Stockholders' Equity $ 18,057,994 $ 15,157,559