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Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 10,161,338 $ 12,961,936
Accounts receivable, net 123,955 77,470
Inventory, net 500,741 436,723
Other current assets 542,067 655,362
Total current assets 11,328,101 14,131,491
Property and equipment, at cost:    
Leasehold improvements 1,195,637 1,195,637
Office equipment 99,344 99,344
Furniture and fixtures 419,303 419,303
Machinery and equipment 2,601,389 2,572,243
Construction in progress 406,588 413,843
Property and equipment, gross 4,722,261 4,700,370
Less accumulated depreciation (3,344,400) (3,217,319)
Net property and equipment 1,377,861 1,483,051
Long-term assets:    
Lease right-of-use assets, net 239,351 319,557
Intangible assets, net of accumulated amortization 1,881 3,294
Other long-term assets 920,812 958,177
Total long-term assets 1,162,044 1,281,028
Total assets 13,868,006 16,895,570
Current liabilities:    
Accounts payable 526,764 510,758
Accrued expenses 535,417 456,714
Note payable 0 141,298
Clinical holdback - current portion 45,352 45,206
Lease liabilities - current portion 305,071 373,833
Total current liabilities 1,412,604 1,527,809
Long-term liabilities:    
Clinical holdback - long-term portion 98,818 96,658
Lease liabilities - long-term portion 0 28,584
Total long-term liabilities 98,818 125,242
Total liabilities 1,511,422 1,653,051
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par, 200,000,000 authorized, 11,989,796 shares issued and 11,872,573 outstanding as of March 31, 2023; and 11,986,927 shares issued and 11,869,704 outstanding as of December 31, 2022 11,990 11,987
Treasury stock, 117,223 shares (60,000) (60,000)
Warrants 567,972 567,972
Additional paid-in-capital 108,917,384 108,857,065
Accumulated deficit (97,080,762) (94,134,505)
Total stockholders' equity 12,356,584 15,242,519
Total liabilities and stockholders' equity $ 13,868,006 $ 16,895,570