Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 15,834,798 $ 4,105,451
Restricted cash 155,636 155,610
Prepaid expenses 803,039 304,427
Total current assets 16,793,473 4,565,488
Equipment - net 344,158 356,143
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 540,145 540,845
TOTAL ASSETS 22,031,641 9,816,341
CURRENT LIABILITIES    
Accounts payable 1,247,487 475,602
Note payable 47,218 118,046
Accrued expenses 471,501 829,724
Unearned revenue 164,656 0
Deferred rent liability 11,744 11,485
Lease liability 10,134 9,936
Total current liabilities 1,952,740 1,444,793
LONG TERM LIABILITIES    
Deferred tax liability 1,205,141 1,205,141
Lease liability - net of current portion 13,837 16,446
TOTAL LIABILITIES 3,171,718 2,666,380
Commitments
STOCKHOLDERS' EQUITY    
Convertible preferred stock, stated value $5.00 per share, 1,600,000 shares authorized at March 31, 2017 and December 31, 2016, 1,590,000 and 1,600,0000 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively (liquidation preference - $7,950,000 at March 31, 2017) 6,048,310 6,086,350
Common stock par value $0.0001 per share, 250,000,000 shares authorized at March 31, 2017 and December 31, 2016; 90,985,192 issued and outstanding as of March 31, 2017; 58,159,495 issued and outstanding as of December 31, 2016 9,098 5,817
Additional paid in capital 52,478,342 36,237,504
Accumulated deficit (39,675,827) (35,179,710)
Total stockholders' equity 18,859,923 7,149,961
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 22,031,641 $ 9,816,341