Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEET

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CONSOLIDATED BALANCE SHEET - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 8,901,875 $ 137,862
Prepaid expenses 58,078 29,953
Total current assets 8,959,953 167,815
PROPERTY AND EQUIPMENT, NET 0 0
OTHER ASSETS:    
Operating lease - right of use asset 27,225 49,364
Security deposit 3,000 3,000
Total other assets 30,225 52,364
TOTAL ASSETS 8,990,178 220,179
CURRENT LIABILITIES:    
Accounts payable 654,333 1,559,627
Loans payable, related parties 0 9,000
Current portion of long-term operating lease 15,178 29,172
Convertible debentures payable 240,000 5,180,342
Deferred R&D obligations - participation agreements 1,106,320 1,482,885
Deferred R&D obligations - participation agreements related parties 369,037 453,915
Accrued interest 95,886 2,464,724
Accrued liabilities - payroll and directors fees 467,215 214,250
Total current liabilities 2,947,969 11,393,915
LONG TERM LIABILITIES:    
Note payable, other 0 121,700
Long-term operating lease, net of current portion 0 15,178
Total long-term liabilities 0 136,878
TOTAL LIABILITIES 2,947,969 11,530,793
STOCKHOLDERS' EQUITY (DEFICIT):    
Common stock, $.001 par value, 150,000,000 and 1,200,000,000 shares authorized as of December 31, 2021 and December 31, 2020; 9,419,660 and 5,162,945 issued and outstanding at December 31, 2021, and December 31, 2020, respectively (a) 9,420 5,163
Additional paid-in capital (a) 114,259,830 87,747,898
Accumulated deficit (108,227,041) (99,063,675)
Total stockholders' equity (deficit) 6,042,209 (11,310,614)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 8,990,178 $ 220,179