Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 5,672,000 $ 8,968,000
Short-term investments 10,836,000 23,011,000
Prepaid expenses and other current assets 54,000 190,000
Total Current Assets 16,562,000 32,169,000
Operating lease right-of-use asset 165,000
Deposits 9,000
TOTAL ASSETS 16,736,000 32,169,000
Current liabilities    
Accounts payable 3,140,000 8,189,000
Accrued expenses 1,669,000 1,901,000
Operating lease liability, current 110,000
Line of credit 31,000
Derivative liability 18,700 138,000
Total Current Liabilities 4,938,000 10,259,000
Non-current operating lease liability 64,000
Total Liabilities 5,002,000 10,259,000
Stockholders’ Equity    
Convertible Preferred stock, par value $0.01, 15,000,000 shares authorized Series C - 96,230 shares issued and outstanding at December 31, 2022 and 2021, respectively 1,000 1,000
Common stock, par value $0.001, 250,000,000 shares authorized, 32,722,452 shares and 32,061,989 shares issued and outstanding as of December 31, 2022 and 2021, respectively 33,000 32,000
Common stock issuable, 0 shares and 327,298 shares at December 31, 2022 and 2021, respectively 1,113,000
Additional paid in capital 686,168,000 674,348,000
Accumulated deficit (674,468,000) (653,584,000)
Total Stockholders’ Equity 11,734,000 21,910,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 16,736,000 $ 32,169,000