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Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 19,116,419 $ 24,783,029
Accounts receivable, net 113,960 84,258
Inventory, net 244,181 208,270
Other current assets 854,962 555,853
Total current assets 20,329,522 25,631,410
Property and equipment, at cost:    
Leasehold improvements 1,195,637 1,155,332
Office equipment 99,344 99,344
Furniture and fixtures 424,947 424,947
Machinery and equipment 2,434,524 2,261,793
Construction in progress 461,735 379,713
Property and equipment, gross 4,616,187 4,321,129
Less accumulated depreciation (2,985,367) (2,722,117)
Net property and equipment 1,630,820 1,599,012
Long-term assets:    
Lease right-of-use assets, net 486,926 665,747
Intangible assets, net of accumulated amortization 10,601 25,093
Other long-term assets 663,083 655,418
Total long-term assets 1,160,610 1,346,258
Total assets 23,120,952 28,576,680
Current liabilities:    
Accounts payable 428,325 445,522
Accrued expenses 551,828 603,787
Clinical holdback - current portion 36,238 18,947
Note payable - current portion 417,841 181,123
Lease liabilities - current portion 394,518 406,674
Other - current 36,037 36,037
Total current liabilities 1,864,787 1,692,090
Long-term liabilities:    
Clinical holdback - long-term portion 109,139 149,791
Lease liabilities - long-term portion 209,098 402,417
Total long-term liabilities 318,237 552,208
Total liabilities 2,183,024 2,244,298
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par, 200,000,000 authorized, 11,930,833 shares issued and 11,813,610 outstanding as of June 30, 2022; and 11,921,388 shares issued 11,804,165 outstanding as of December 31, 2021 11,931 11,921
Treasury stock, 117,223 shares (60,000) (60,000)
Warrants 567,972 702,492
Additional paid-in-capital 108,675,491 108,418,304
Accumulated deficit (88,257,466) (82,740,335)
Total stockholders' equity 20,937,928 26,332,382
Total liabilities and stockholders' equity $ 23,120,952 $ 28,576,680