Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating expenses        
Research and development $ 688,041   $ 1,009,026 $ 25,000
General and administrative 1,082,846 $ 1,080,190 2,276,928 2,306,551
Total operating expenses 1,770,887 1,080,190 3,285,954 2,331,551
Operating loss (1,770,887) (1,080,190) (3,285,954) (2,331,551)
Other expense (income)        
Change in fair value of derivative liabilities (17,971,742) 1,580,242 (5,151,124) 602,749
Fair value of derivative liabilities in excess of proceeds     322,644 7,174,634
Financing transaction costs       137,191
Loss on extinguishment of secured convertible promissory note - related party       590,392
Interest expense 293,965 0 410,028 37,708
Interest income   (74)   (74)
Total other expense (income) (17,677,777) 1,580,168 (4,418,452) 8,542,600
Income (loss) before income taxes 15,906,890 (2,660,358) 1,132,498 (10,874,151)
Provision for income taxes 1,600 1,642 1,600 1,642
Net income (loss) and comprehensive income (loss) $ 15,905,290 $ (2,662,000) $ 1,130,898 $ (10,875,793)
Earnings (loss) per common share:        
Basic (in dollars per share) $ 0.12 $ (0.02) $ 0.01 $ (0.10)
Diluted (in dollars per share) $ 0.08 $ (0.02) $ 0.01 $ (0.10)
Weighted average shares of common stock outstanding used to compute earnings per share:        
Basic (in shares) 132,923,037 130,668,887 132,826,677 109,767,054
Diluted (in shares) 189,094,958 130,668,887 172,058,053 109,767,054