Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 11,266,433 $ 4,105,451
Restricted cash 155,377 155,610
Prepaid expenses 317,254 304,427
Total current assets 11,739,064 4,565,488
Leasehold improvements and equipment - net 1,170,983 356,143
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 536,001 540,845
TOTAL ASSETS 17,799,913 9,816,341
CURRENT LIABILITIES    
Accounts payable 453,220 475,602
Note payable 0 118,046
Accrued expenses 731,671 829,724
Deferred revenue 119,750 0
Deferred rent liability 11,758 11,485
Lease liability 18,752 9,936
Total current liabilities 1,335,151 1,444,793
LONG TERM LIABILITIES    
Deferred tax liability 1,205,141 1,205,141
Lease liability - net of current portion 51,362 16,446
TOTAL LIABILITIES 2,591,654 2,666,380
STOCKHOLDERS' EQUITY    
Common stock par value $0.0001 per share, 250,000,000 and 250,000,000 shares authorized at June 30, 2017 and December 31, 2016, respectively; 91,972,323 issued and outstanding as of June 30, 2017; 58,159,495 issued and outstanding as of December 31, 2016 9,194 5,817
Additional paid in capital 53,045,284 36,237,504
Accumulated deficit (43,643,467) (35,179,710)
Total stockholders' equity 15,208,259 7,149,961
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 17,799,913 9,816,341
Series A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Series A Convertible preferred stock, stated value $5.00 per share, 1,600,000 shares authorized as of June 30, 2017 and December 31, 2016; 1,524,000 and 1,600,000 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively (liquidation preference - $8,178,800 at June 30, 2017). $ 5,797,248 $ 6,086,350