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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 26,592,845 $ 103,695
Prepaid expenses and other current assets 1,313,931 156,628
Total current assets 27,906,776 260,323
Property and equipment, net 412,735 29,508
Intangible assets, net 1,223,000 41,692
Right-to-use assets 1,347,557 0
Other assets 155,670 12,800
Total assets 31,045,738 344,323
Current liabilities:    
Accounts payable 2,665,266 1,412,951
Accrued expenses 446,962 601,889
Restructuring reserve 1,948,596 [1] 0
Operating lease liabilities- short term 477,300 0
Total current liabilities 5,538,124 2,014,840
Noncurrent liability:    
Deferred tax liability 157,000 0
Operating lease liabilities- long term 902,972 0
Convertible promissory notes payable 0 30,000
STOCKHOLDERS' EQUITY    
Preferred stock, 5,000,000 shares authorized at March 31, 2019 and December 31, 2018, 0 outstanding 0 0
Common stock, $0.00033 par value, 75,000,000 shares authorized at March 31, 2019 and December 31, 2018, 5,172,938 shares and 3,417,187shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 1,707 1,128
Additional paid-in capital 38,642,411 19,311,529
Accumulated deficit (14,196,476) (21,013,174)
Total stockholders' equity 24,447,642 (1,700,517)
Total liabilities and stockholders' equity $ 31,045,738 $ 344,323
[1] Restructuring reserve relates to the severance costs incurred by Edge Therapeutics prior to the merger transaction and assumed by the Company as part of the purchase accounting, but not yet paid. Restructuring reserve relates to the severance costs incurred by Edge Therapeutics prior to the merger transaction and assumed by the Company as part of the purchase accounting, but not yet paid. For the three months ended March 31, 2019, the Company incurred $121,675 of restructuring expense which is recognized within general and administrative expense.