Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating expenses    
Research and development $ 1,944,411 $ 2,237,956
General and administrative 4,344,602 4,394,622
Total operating expenses 6,289,013 6,632,578
Operating loss (6,289,013) (6,632,578)
Other expense (income)    
Change in fair value of derivative liabilities (436,270) (9,734,759)
Fair value of derivative liabilities in excess of proceeds   322,644
Loss on extinguishment of debt - related party 0 725,425
Interest Expense 706,385 1,000,713
Interest income (29) (26)
Total other expense (income), net 270,086 (7,686,003)
(Loss) income before income taxes (6,559,099) 1,053,425
Provision for income taxes 1,600 1,600
Net (loss) income and comprehensive (loss) income $ (6,560,699) $ 1,051,825
(Loss) earnings per common share:    
Basic (in dollars per share) $ (0.03) $ 0.01
Diluted (in dollars per share) $ (0.03) $ (0.05)
Weighted average shares of common stock outstanding used to compute (loss) earnings per share:    
Basic (in shares) 230,746,878 135,154,931
Diluted (in shares) 231,420,973 169,560,265