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Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 16,005,650 $ 24,783,029
Accounts receivable, net 183,130 84,258
Inventory, net 343,136 208,270
Other current assets 760,573 555,853
Total current assets 17,292,489 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 503,312 379,713
Property and equipment, gross 4,657,764 4,321,129
Less accumulated depreciation (3,115,551) (2,722,117)
Net property and equipment 1,542,213 1,599,012
Long-term assets:    
Lease right-of-use assets, net 402,063 665,747
Intangible assets, net of accumulated amortization 5,759 25,093
Other long-term assets 789,616 655,418
Total long-term assets 1,197,438 1,346,258
Total assets 20,032,140 28,576,680
Current liabilities:    
Accounts payable 419,110 445,522
Accrued expenses 649,615 603,787
Clinical holdback - current portion 36,238 18,947
Note payable 280,577 181,123
Lease liabilities - current portion 386,139 406,674
Other 36,037 36,037
Total current liabilities 1,807,716 1,692,090
Long-term liabilities:    
Clinical holdback - long-term portion 101,804 149,791
Lease liabilities - long-term portion 115,773 402,417
Total long-term liabilities 217,577 552,208
Total liabilities 2,025,293 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 September 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 108,727,253 108,418,304
Accumulated deficit (91,240,309) (82,740,335)
Total stockholders' equity 18,006,847 26,332,382
Total liabilities and stockholders' equity $ 20,032,140 $ 28,576,680