Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash $ 8,903,776 $ 16,943,905
Short-term investments 32,687 33,248
Prepaid expenses and other current assets 1,225,201 737,316
Total current assets 10,161,664 17,714,469
Property and equipment, net 2,776 4,671
Intangible assets, net 24,557 27,614
Total assets 10,188,997 17,746,754
Current liabilities:    
Accounts payable 888,015 408,981
Accrued liabilities 986,033 520,093
Total current liabilities 1,874,048 929,074
Convertible debt, net of issuance costs and debt discount   3,906,057
Derivative liability   5,379,878
Warrant liability 1,605,020 1,871,687
Total liabilities 3,479,068 12,086,696
Commitments and contingencies (Note 13)
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 June 30, 2022 and December 31, 2021, respectively
Additional paid-in capital 73,879,455 68,039,178
Accumulated other comprehensive loss (138,442) (187,919)
Accumulated deficit (67,031,084) (62,191,201)
Total shareholders' equity 6,709,929 5,660,058
Total liabilities and shareholders' equity $ 10,188,997 $ 17,746,754