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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 9,840,177 $ 8,446,158
Unbilled revenue   171,254
Research and development incentives receivable, current   23,894
Deferred issuance cost 126,385  
Prepaid expenses and other current assets 340,330 866,014
Total current assets 10,306,892 9,507,320
Security deposit 22,777 22,777
Office furniture and equipment, net 7,162 11,927
Right-of-use lease assets 140,148 229,834
Research and development incentives receivable, net of current portion   25,468
Total assets 10,476,979 9,797,326
Current liabilities:    
Accounts payable 891,227 1,111,226
Accrued expenses 1,363,235 2,418,002
Accrued compensation 84,362 251,115
Lease liabilities, current 132,114 121,765
Convertible debt 2,059,309 2,250,000
Total current liabilities 4,530,247 6,152,108
Non-current liabilities:    
Convertible debt   1,010,934
Lease liabilities, net of current portion 11,544 111,862
Total liabilities 4,541,791 7,274,904
Commitments and contingencies (Note 6)
Shareholders' equity:    
Preferred stock, 350,000 shares authorized; none issued or outstanding at September 30, 2024 and December 31, 2023, respectively
Common stock, $.001 par value; 75,000,000 shares authorized; 2,295,304 and 648,761 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively [1] 2,295 649
Additional paid-in capital [1] 236,878,806 228,203,706
Accumulated other comprehensive income 37,473 22,243
Accumulated deficit (230,983,386) (225,704,176)
Total shareholders' equity 5,935,188 2,522,422
Total liabilities and shareholders' equity $ 10,476,979 $ 9,797,326
[1] Adjusted to reflect the reverse stock split of one-for-sixteen effective June 5, 2024