Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 15,236,736 $ 7,217,469
Restricted cash 55,000 55,000
Prepaid expenses 440,389 250,944
Research and development tax rebate receivable 626,011 358,277
Other current assets 50,035 16,344
Total current assets 16,408,171 7,898,034
Furniture and equipment, net 60,926 11,467
Intangible assets, net 59,882 75,686
Other assets 48,867 178,907
Total assets 16,577,846 8,164,094
Current liabilities    
Accounts payable 191,217 334,901
Accrued expenses 286,713 90,105
Payroll liabilities 952,657 784,867
Stock-based compensation liability 1,557,163  
Other current liabilities 23,331 15,534
Total current liabilities 3,011,081 1,225,407
Commitments and contingencies (note 11)
Stockholders' equity    
Preferred stock - $0.001 par value; 10,000,000 shares authorized, consisting of: Series A convertible preferred stock-$0.001 par value; 4,000 shares authorized, and 0 shares outstanding as of June 30, 2018 and December 31, 2017; Series B convertible preferred stock- $0.001 par value; 25,000 and 0 shares authorized, and 5,802 and 0 shares issued and outstanding, as of June 30, 2018 and December 31, 2017, respectively 6  
Additional paid-in capital-Series B convertible preferred stock 5,234,116  
Common stock - $0.18 par value; 175,000,000 shares authorized, 4,874,099 and 2,651,952 shares issued and outstanding, as of June 30, 2018 and December 31, 2017, respectively 877,329 477,342
Additional paid-in capital 78,898,602 71,887,674
Accumulated deficit (71,443,288) (65,426,329)
Total stockholders' equity 13,566,765 6,938,687
Total liabilities and stockholders' equity $ 16,577,846 $ 8,164,094