Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash and Cash Equivalents $ 3,426,067 $ 5,964,556
Prepaid Expenses and Other Current Assets 488,950 343,069
Tax Receivables 1,702,967 1,373,041
Total Current Assets 5,617,984 7,680,666
Non-Current Assets:    
Property and Equipment, Net 51,349 55,177
Restricted Cash 4,185 49,260
Intangible Assets and In-Process R&D, Net 10,736,914 10,743,164
Operating Lease Assets with Right-of-Use 84,499 116,992
Other Assets 32,669 33,000
Total Assets 16,527,600 18,678,259
Current Liabilities:    
Accounts Payable 587,473 1,008,262
Accrued Expenses 1,181,722 1,835,934
Operating Lease Liabilities 73,289 105,782
Contingent Consideration, short-term 313,299 322,385
Total Current Liabilities 2,155,783 3,272,363
Non-Current Liabilities:    
Contingent Consideration 3,527,187 3,309,175
Deferred Tax Liability 689,121 689,121
Total Non-Current Liabilities 4,216,308 3,998,296
Total Liabilities 6,372,091 7,270,659
Commitments and Contingencies (Note 8)
Stockholders' Equity:    
Preferred Stock, $0.01 Par Value: 10,000,000 shares authorized 0 0
Common Stock, $0.01 Par Value: 50,000,000 shares authorized; 1,919,270 and 1,796,472 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively 19,214 17,986
Additional Paid-In Capital 146,683,202 146,035,314
Accumulated Deficit (136,331,495) (134,462,959)
Accumulated Other Comprehensive Loss (215,412) (182,741)
Total Stockholders’ Equity 10,155,509 11,407,600
Total Liabilities and Stockholders’ Equity $ 16,527,600 $ 18,678,259