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CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 9,277,025 $ 10,195,292
Accounts receivable and unbilled receivable 106,432 203,480
Prepaid expenses and other current assets 899,451 954,957
Total current assets 10,282,908 11,353,729
Property and equipment, net 758,503 877,823
Operating lease right-of-use assets 617,622 697,418
Other assets 156,370 157,576
Total Assets 11,815,403 13,086,546
Current liabilities:    
Accounts payable 598,985 656,304
Accrued expenses 3,411,723 3,260,061
Operating lease liabilities 870,592 865,379
Total current liabilities 4,881,300 4,781,744
Derivative financial instruments—warrants 2,020 4,127
Operating lease liabilities, net of current portion 649,621 860,963
Other liabilities 139,044 128,368
Total Liabilities 5,671,985 5,775,202
Commitments and contingencies (Note 8)
Stockholders’ equity    
Preferred stock, $0.001 par value, 20,000,000 shares authorized; 277,100 designated as Series A Convertible Preferred Stock; 60,600 shares outstanding at March 31, 2020 and December 31, 2019 with liquidation preference of $606,000 at March 31, 2020 and December 31, 2019; 200,000 designated as Series C Convertible Preferred Stock; 0 shares outstanding at March 31, 2020 and December 31, 2019 60 60
Common stock, $0.0001 par value, 150,000,000 shares authorized; 11,010,587 and 8,593,633 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively 8,554 8,312
Additional paid-in capital 219,805,965 217,172,528
Service receivables (678,656) (971,673)
Accumulated deficit (212,992,505) (208,897,883)
Total stockholders’ equity 6,143,418 7,311,344
Total liabilities and stockholders’ equity $ 11,815,403 $ 13,086,546