Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 2,551,171 $ 14,948,529
Accounts receivable - net of allowance for bad debt of $0 and $387,976 for December 31, 2018 and December 31, 2017, respectively 6,826
Prepaid expenses and other current assets 464,006 92,855
Total current assets 3,015,177 15,048,210
Other assets:    
Property and equipment, net of accumulated depreciation and impairment charges of $4,338,931 and $134,513 for December 31, 2018 and December 31, 2017, respectively 1,034,575 10,011
Intangible assets, net of accumulated amortization of $65,245 for December 31, 2018 1,144,755
Total other assets 2,179,330 10,011
TOTAL ASSETS 5,194,507 15,058,221
Current liabilities:    
Accounts payable and accrued expenses 1,235,444 1,961,784
Litigation liability 2,150,000
Warrant liability 39,083 1,794,396
Convertible notes payable, net of discount of $2,290,028 for December 31, 2017 999,106 1,763,920
Total current liabilities 2,273,633 7,670,100
Total liabilities 2,273,633 7,670,100
Commitments and Contingencies  
Stockholders' Equity:    
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, 0 and 5,513 issued and outstanding at December 31, 2018 and December 31, 2017, respectively 1
Common stock, $0.0001 par value; 200,000,000 shares authorized; 25,519,940 and 12,477,781 issued and outstanding at December 31, 2018 and December 31, 2017, respectively 2,552 1,248
Additional paid-in capital 105,459,482 97,113,723
Accumulated other comprehensive loss (450,719) (450,734)
Accumulated deficit (102,090,441) (89,276,117)
Total stockholders' equity 2,920,874 7,388,121
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,194,507 $ 15,058,221