Balance Sheet

v3.25.1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 46,421,299	$ 68,415,741
Short-term investments	12,802,650	0
Prepaid expenses	575,382	201,962
Other current assets	3,228,450	2,209,544
Total current assets	63,027,781	70,827,247
Property and equipment, net	1,304,148	1,432,752
Operating lease right-of-use asset	407,401	449,864
Other assets	53,910	53,910
Total assets	64,793,240	72,763,773
Current liabilities
Accounts payable	1,713,832	569,252
Accrued payroll liabilities	656,131	1,114,255
Other current liabilities	847,849	654,201
Estimate for accrued legal contingencies and related expenses	1,913,003	1,818,751
Operating lease liability, current portion	188,645	182,428
Total current liabilities	5,319,460	4,338,887
Non-current liabilities
Operating lease liability, net of current portion	223,466	273,162
Total liabilities	5,542,926	4,612,049
Commitments and contingencies (Note 7)
Stockholders’ equity
Preferred stock, $0.001 par value; 200,000 shares authorized at March 31, 2025 and December 31, 2024; no shares issued and outstanding at March 31, 2025 and December 31, 2024	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized at March 31, 2025 and December 31, 2024; 30,974,559 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	30,975	30,975
Additional paid-in-capital	201,272,330	199,070,421
Accumulated deficit	(142,052,991)	(130,949,672)
Total stockholders’ equity	59,250,314	68,151,724
Total liabilities and stockholders’ equity	$ 64,793,240	$ 72,763,773

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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