Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 25,770,665 $ 25,006,632
Investments 47,532,557 72,640,520
Restricted cash 192,475 192,475
Prepaid expenses and other current assets 1,742,273 2,365,010
Total current assets 75,237,970 100,204,637
Restricted cash 477,425 477,425
Property and equipment, net 1,989,007 2,392,696
Operating lease right of use assets 4,258,077 4,609,110
Other assets 104,165 46,385
Total assets 82,066,644 107,730,253
Current liabilities:    
Notes payable 110,705 767,938
Accounts payable 1,986,622 1,782,277
Accrued expenses 4,716,422 10,093,312
Derivative liability 133,710 133,710
Operating lease liabilities, current 1,207,471 1,136,948
Current portion of long-term debt 7,474,846 3,093,344
Total current liabilities 15,629,776 17,007,529
Long-term debt, net of debt discount 11,612,237 15,636,275
Other long-term liabilities 22,205 22,205
Operating lease liabilities, noncurrent 5,332,569 5,956,217
Total liabilities 32,596,787 38,622,226
Stockholders' equity    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding at March 31, 2022 and December 31, 2021
Common stock, $0.0001 par value; 300,000,000 shares authorized,125,230,881 and 125,230,881 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 12,527 12,523
Additional paid-in capital 421,996,544 418,891,713
Accumulated deficit (372,419,894) (349,733,764)
Accumulated other comprehensive loss (119,320) (62,445)
Total stockholders’ equity 49,469,857 69,108,027
Total liabilities and stockholders’ equity $ 82,066,644 $ 107,730,253