Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current Assets:    
Cash and Cash Equivalents $ 4,688,961 $ 3,776,712
Prepaid Expenses and Other Current Assets 404,398 458,810
Right-of-Use Assets 102,579 83,926
Current Portion of Refundable Tax Credit Receivable 1,521 4,857
Total Current Assets 5,197,459 4,324,305
Property and Equipment, Net 13,641 16,846
Restricted Cash 45,000 45,000
Goodwill 1,525,896 1,525,896
Intangible Assets and In-Process R&D, Net 4,118,564 4,131,064
Other Assets 66,342 69,403
Total Assets 10,966,902 10,112,514
Current Liabilities:    
Accounts Payable 94,295 210,289
Accrued Expenses 618,870 1,120,480
Lease Liabilities 102,579 83,926
Total Current Liabilities 815,744 1,414,695
Non-Current Liabilities:    
Contingent Consideration 1,710,000 1,710,000
Deferred Tax Liability 365,364 365,364
Paycheck Protection Program Loan 278,190 0
Total Non-Current Liabilities 2,353,554 2,075,364
Total Liabilities 3,169,298 3,490,059
Commitments and Contingencies (Note 10)
Stockholders' Equity:    
Preferred Stock, $0.01 Par Value: 9,994,184 shares authorized; 3,750 designated Series A, 0 shares issued and outstanding at June 30, 2020 and December 31, 2019; 10,000 designated Series B, 0 shares issued and outstanding at June 30, 2020 and December 31, 2019; 10,000 shares designated Series C, 4,092 shares issued and outstanding at June 30, 2020 and December 31, 2019 41 41
Common Stock, $0.01 Par Value: 50,000,000 and 120,000,000 shares authorized at June 30, 2020 and December 31, 2019, respectively; 4,626,755 and 4,077,755 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 46,268 40,778
Additional Paid-In Capital 111,527,859 106,689,065
Accumulated Deficit (103,916,195) (100,246,894)
Accumulated Other Comprehensive Income 139,631 139,465
Total Stockholders' Equity 7,797,604 6,622,455
Total Liabilities and Stockholders' Equity $ 10,966,902 $ 10,112,514