Balance Sheet

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CONDENSED CONSOLIDATED BALANCE SHEET - USD ($)
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash $ 5,083,720 $ 8,901,875
Prepaid expenses 517,114 58,078
Total current assets 5,600,834 8,959,953
PROPERTY AND EQUIPMENT, NET 0 0
OTHER ASSETS    
Operating lease - right of use asset 231,716 27,225
Security deposit 32,058 3,000
Total other assets 263,774 30,225
TOTAL ASSETS 5,864,608 8,990,178
CURRENT LIABILITIES:    
Accounts payable 407,838 654,333
Current portion of long-term operating lease 86,364 15,178
Convertible debentures payable 240,000 240,000
Deferred R&D obligations - participation agreements 801,061 1,106,320
Deferred R&D obligations - participation agreements related parties 267,211 369,037
Accrued interest 97,076 95,886
Accrued liabilities - payroll and directors fees 448,409 467,215
Note payable 349,222 0
Total Current Liabilities 2,697,181 2,947,969
LONG-TERM LIABILITIES:    
Long-term operating lease, net of current portion 157,004 0
Total long-term liabilities 157,004 0
TOTAL LIABILITIES 2,854,185 2,947,969
STOCKHOLDERS' EQUITY:    
Common stock, $0.001 par value, 150,000,000 shares authorized; [9,419,660] and 9,419,660 issued and outstanding at June 30, 2022 and December 31, 2021 9,420 9,420
Additional paid-in capital 115,328,203 114,259,830
Accumulated deficit (112,327,200) (108,227,041)
Total stockholders' equity 3,010,423 6,042,209
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,864,608 $ 8,990,178

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