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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,994,186 $ 2,475,958
Royalties receivable, net of reserves of $1,253,450 in 2024 and 2023, respectively 658,213 1,003,404
Prepaid expenses and other current assets 93,490 96,784
Total current assets 2,745,889 3,576,146
Fixed assets, net 15,052 39,598
Operating lease ROU assets 1,222,640 178,715
Deposits and other assets 56,066 56,066
Total assets 4,039,647 3,850,525
Current liabilities:    
Current portion of operating lease liability 129,875 212,359
Accounts payable 85,825 50,880
Accrued expenses 53,327 14,192
Total current liabilities 269,027 277,431
Operating lease liability, net of current portion 1,166,285 55,363
Total liabilities 1,435,312 332,794
Shareholders’ equity:    
Common stock, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 33,648,221 in 2024 and 33,509,287 in 2023 3,365 3,351
Additional paid-in capital 128,177,193 127,779,221
Accumulated deficit (125,576,223) (124,264,841)
Total shareholders’ equity 2,604,335 3,517,731
Total liabilities and shareholders’ equity $ 4,039,647 $ 3,850,525