Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.20.1
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents

Cash and cash equivalents consists of the following:

 

    December 31,  
    2019     2018  
Cash   $ 884,115     $ 808,943  
Money market fund     30,864,571       40,939,525  
Total cash and cash equivalents   $ 31,748,686     $ 41,748,468  

Schedule of Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2019 and 2018:

 

    Years Ended December 31,  
    2019     2018  
Basic and diluted net loss per share of common stock:                
Net loss   $ (71,453,718 )   $ (55,672,139 )
Weighted average shares of common stock outstanding     63,899,184       56,999,741  
Net loss per share of common stock-basic and diluted   $ (1.12 )   $ (0.98 )

Schedule of Potentially Dilutive Securities Excluded from Computation of Dilutive Weighted Average Shares Outstanding

The impact of the following potentially dilutive securities outstanding as of December 31, 2019 and 2018 have been excluded from the computation of dilutive weighted average shares outstanding as the inclusion would be antidilutive.

 

    December 31,  
    2019     2018  
Warrants     1,000,000       2,283,500  
Stock options     13,245,366       9,593,990  
      14,245,366       11,877,490