Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 9,000,674 $ 4,105,451
Restricted cash 155,404 155,610
Prepaid expenses 1,017,372 304,427
Total current assets 10,173,450 4,565,488
Leasehold improvements and equipment - net 1,460,455 356,143
In-process research and development 3,017,377 3,017,377
Goodwill 1,336,488 1,336,488
Other assets including long term security deposit 535,999 540,845
TOTAL ASSETS 16,523,769 9,816,341
CURRENT LIABILITIES    
Accounts payable 341,593 475,602
Note payable 297,912 118,046
Accrued expenses 753,760 829,724
Deferred revenue 74,844
Deferred rent liability 395,620 11,485
Lease liability 19,020 9,936
Total current liabilities 1,882,749 1,444,793
LONG TERM LIABILITIES    
Deferred tax liability 1,205,141 1,205,141
Lease liability - net of current portion 47,914 16,446
Stock dividends payable - Long Term 603,143
TOTAL LIABILITIES 3,738,947 2,666,380
STOCKHOLDERS' EQUITY    
Common stock par value $0.0001 per share, 250,000,000 and 250,000,000 shares authorized at September 30, 2017 and December 31, 2016, respectively; 92,950,096 issued and outstanding as of September 30, 2017; 58,159,495 issued and outstanding as of December 31, 2016 9,294 5,817
Additional paid in capital 54,686,207 36,237,504
Accumulated deficit (47,646,524) (35,179,710)
Total stockholders' equity 12,784,822 7,149,961
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 16,523,769 9,816,341
Series A Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Series A Convertible preferred stock, stated value $5.00 per share, 1,600,000 shares authorized as of September 30,2017 and December 31, 2016; 1,507,858 and 1,600,000 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively, (liquidation preference - $8,142,433 at September 30, 2017) $ 5,735,845 $ 6,086,350