v3.23.1
BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 37,478,480 $ 34,213,989
Prepaid Clinical trial expenses 367,714 410,357
Prepaid expenses and other current assets 739,467 879,869
TOTAL CURRENT ASSETS 38,585,661 35,504,215
Fixed assets, net of accumulated depreciation 22,145 20,445
TOTAL ASSETS 38,607,806 35,524,660
CURRENT LIABILITIES    
Accounts payable 660,206 1,296,506
Accrued expenses 536,714 698,406
Dividend payable 115,890  
TOTAL CURRENT LIABILITIES 1,312,810 1,994,912
Warrant liability 1,510,000  
Derivative liability 370,300  
TOTAL LIABILITIES 3,193,110 1,994,912
Commitments and contingencies
Series B Convertible redeemable preferred stock, $.0001 par value and $1,000 face value, 1,000,000 shares authorized;15,000 and 0 shares issued and outstanding at December 31, 2022 and 2021, respectively. Liquidation preference of $15,000,000 plus dividends accrued at 7% per annum of $115,890 as of December 31, 2022. 2,721,723 33,529,748
STOCKHOLDERS' EQUITY    
Common stock - 150,000,000 shares authorized as of December 31, 2022, $0.0001 par value; 7,267,032 shares issued and outstanding as of December 31, 2022 and 6,730,180 shares issued and outstanding as of December 31, 2021. 728 674
Additional paid-in capital 52,523,762 47,670,744
Accumulated deficit (19,831,517) (14,141,670)
TOTAL STOCKHOLDERS' EQUITY 32,692,973 33,529,748
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 38,607,806 $ 35,524,660