Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEET

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CONDENSED CONSOLIDATED BALANCE SHEET - USD ($)
Jun. 30, 2023
Dec. 31, 2022
CURRENT ASSETS:    
Cash $ 21,067 $ 1,799,263
Prepaid expenses 509,008 102,416
Total current assets 530,075 1,901,679
ACCOUNTS RECEIVABLE 2,956 0
PROPERTY AND EQUIPMENT, NET 0 0
OTHER ASSETS    
Operating lease - right of use asset 145,241 189,282
Security deposit 32,058 32,058
Total other assets 177,299 221,340
TOTAL ASSETS 710,330 2,123,019
CURRENT LIABILITIES:    
Accounts payable 1,273,437 490,670
Current portion of long-term operating lease 106,687 99,259
Convertible debentures payable 240,000 240,000
Deferred R&D obligations - participation agreements 200,141 525,904
Deferred R&D obligations - participation agreements related parties 66,762 175,427
Short term loans payable, net of discount 1,111,765 0
Accrued interest 123,540 98,286
Accrued liabilities - payroll and directors fees 681,910 398,176
Total Current Liabilities 3,804,242 2,027,722
LONG-TERM LIABILITIES:    
Long-term operating lease, net of current portion 50,920 105,919
Total long-term liabilities 50,920 105,919
TOTAL LIABILITIES 3,855,162 2,133,641
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, 2023 and December 31, 2022 9,420 9,420
Additional paid-in capital 116,693,992 115,784,488
Accumulated deficit (119,848,244) (115,804,530)
Total stockholders' equity (3,144,832) (10,622)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 710,330 $ 2,123,019