Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash $ 3,920,742 $ 16,943,905
Short-term investments 30,539 33,248
Prepaid expenses and other current assets 1,407,864 737,316
Total current assets 5,359,145 17,714,469
Property and equipment, net 788 4,671
Intangible assets, net 21,732 27,614
Total assets 5,381,665 17,746,754
Current liabilities:    
Accounts payable 1,794,807 408,981
Accrued liabilities 1,303,908 520,093
Total current liabilities 3,098,715 929,074
Convertible debt, net of issuance costs and debt discount   3,906,057
Derivative liability remeasured as of June 19, 2022   5,379,878
Warrant liability 1,553,186 1,871,687
Total liabilities 4,651,901 12,086,696
Commitments and contingencies
Shareholders' equity:    
Series 1 Convertible Preferred Shares, no par value, 70,000,000 shares authorized, 70,000,000 and 0 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively
Common Shares, no par value, unlimited shares authorized, 7,195,529 shares issued and outstanding as of September 30, 2022 and December 31, 2021 0 0
Additional paid-in capital 73,988,039 68,039,178
Accumulated other comprehensive loss (270,316) (187,919)
Accumulated deficit (72,987,959) (62,191,201)
Total shareholders' equity 729,764 5,660,058
Total liabilities and shareholders' equity $ 5,381,665 $ 17,746,754