Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash and Cash Equivalents $ 5,067,354 $ 7,854,690
Prepaid Expenses 930,345 606,520
Tax Receivables 552,237 529,560
Total Current Assets 6,549,936 8,990,770
Non-Current Assets:    
Property and Equipment, Net 67,297 73,999
Restricted Cash 45,000 45,000
Intangible Assets and In-Process R&D, Net 10,761,914 10,768,164
Operating Lease Assets 158,309 209,411
Other Assets 53,820 42,964
Total Assets 17,636,276 20,130,308
Current Liabilities:    
Accounts Payable 302,263 160,621
Accrued Expenses 1,832,934 1,330,141
Operating Lease Liabilities 92,317 118,846
Contingent Consideration 293,947 0
Total Current Liabilities 2,521,461 1,609,608
Non-Current Liabilities:    
Contingent Consideration, Non-Current 2,988,898 3,048,955
Deferred Tax Liability 802,131 802,131
Operating Lease Liabilities, Non-Current 65,992 90,566
Total Non-Current Liabilities 3,857,021 3,941,652
Total Liabilities 6,378,482 5,551,260
Commitments and Contingencies (Note 10)
Stockholders' Equity:    
Preferred Stock, $0.01 Par Value: 10,000,000 shares authorized; 3,750 designated Series A, 0 shares issued and outstanding at March 31, 2022 and December 31, 2021; 10,000 designated Series B, 0 shares issued and outstanding at March 31, 2022 and December 31, 2021; 10,000 shares designated Series C, 0 shares issued and outstanding at March 31, 2022 and December 31, 2021; 20,000 shares designated Series D, 7 shares issued and outstanding at March 31, 2022 and December 31, 2021   0
Common Stock, $0.01 Par Value: 50,000,000 shares authorized and 12,663,965 and shares issued and outstanding at March 31, 2022 and December 31, 2021 126,640 126,640
Additional Paid-In Capital 135,634,109 135,418,188
Accumulated Deficit (124,444,363) (120,879,349)
Accumulated Other Comprehensive Loss (58,592) (86,431)
Total Stockholders' Equity 11,257,794 14,579,048
Total Liabilities and Stockholders' Equity $ 17,636,276 $ 20,130,308