XML 13 R2.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 13,525,898 $ 21,716,077
Accounts receivable, net 92,535 98,906
Inventory, net 1,315,580 667,118
Prepaid and other current assets 997,623 695,879
Total current assets 15,931,636 23,177,980
Property and equipment, at cost:    
Leasehold improvements 1,212,417 1,212,417
Office equipment 47,308 47,308
Furniture and fixtures 429,933 414,303
Machinery and equipment 2,599,994 2,559,356
Construction in progress 651,157 423,077
Property and equipment, gross 4,940,809 4,656,461
Less accumulated depreciation (3,678,450) (3,545,422)
Net property and equipment 1,262,359 1,111,039
Long-term assets:    
Lease right-of-use assets, net 2,081,054 2,380,225
Intangible assets, net of accumulated amortization 44,317 0
Other long-term assets 957,078 1,086,581
Total long-term assets 3,082,449 3,466,806
Total assets 20,276,444 27,755,825
Current liabilities:    
Accounts payable 951,510 1,137,823
Accrued expenses 886,352 1,444,296
Clinical holdback - current portion 92,397 65,300
Lease liabilities - current portion 533,734 406,636
Total current liabilities 2,463,993 3,054,055
Long-term liabilities:    
Clinical holdback - long-term portion 32,706 54,935
Convertible notes payable, net (including related parties) 4,758,017 4,258,179
Lease liabilities - long-term portion 1,771,487 2,036,067
Total long-term liabilities 6,562,210 6,349,181
Total liabilities 9,026,203 9,403,236
Commitments and contingencies
Stockholders' equity:    
Common stock, $.001 par, 200,000,000 authorized, 22,350,022 shares issued and 22,232,799 outstanding as of June 30, 2024; and 21,774,604 shares issued and 21,657,381 outstanding as of December 31, 2023 22,350 21,775
Treasury stock, 117,223 common shares (60,000) (60,000)
Warrants 2,608,642 2,787,137
Additional paid-in-capital 125,344,962 123,985,306
Accumulated deficit (116,665,713) (108,381,629)
Total stockholders' equity 11,250,241 18,352,589
Total liabilities and stockholders' equity $ 20,276,444 $ 27,755,825