Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash and Cash Equivalents $ 5,964,556 $ 7,854,690
Prepaid Expenses and Other Current Assets 343,069 606,520
Tax Receivables 1,373,041 529,560
Total Current Assets 7,680,666 8,990,770
Property and Equipment, Net 55,177 73,999
Restricted Cash 49,260 45,000
Intangible Assets and In-Process R&D, Net 10,743,164 10,768,164
Operating Lease Assets with Right-of-Use 116,992 209,411
Other Assets 33,000 42,964
Total Assets 18,678,259 20,130,308
Current Liabilities:    
Accounts Payable 1,008,262 160,621
Accrued Expenses 1,835,934 1,330,141
Operating Lease Liabilities 105,782 118,846
Contingent Consideration, short-term 322,385 0
Total Current Liabilities 3,272,363 1,609,608
Non-Current Liabilities:    
Contingent Consideration 3,309,175 3,048,955
Deferred Tax Liability 689,121 802,131
Non-Current Operating Lease Liabilities 0 90,566
Total Non-Current Liabilities 3,998,296 3,941,652
Total Liabilities 7,270,659 5,551,260
Commitments and Contingencies (Note 12)
Stockholders’ Equity:    
Preferred Stock 0 0
Common Stock, $0.01 Par Value: 50,000,000 shares authorized at December 31, 2022 and 2021; 1,796,472 and 316,599 shares issued and outstanding at December 31, 2022 and 2021, respectively 17,986 3,166
Additional Paid-In Capital 146,035,314 135,541,662
Accumulated Deficit (134,462,959) (120,879,349)
Accumulated Other Comprehensive Loss (182,741) (86,431)
Total Stockholders’ Equity 11,407,600 14,579,048
Total Liabilities and Stockholders’ Equity $ 18,678,259 $ 20,130,308