v3.20.2
Condensed Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Assets    
Cash $ 3,793,292 $ 6,174,207
Prepaid expenses 561,554 116,749
Inventory 323,208 113,442
Other current assets 101,451 130,701
Total current assets 4,779,505 6,535,099
Other Assets    
Fixed assets, net 225,620 236,251
Right of use assets 356,060 404,919
Total assets 5,361,185 7,176,269
Current Liabilities    
Accounts payable and accrued liabilities 1,325,005 1,708,525
Convertible notes payable, net of discount 0 298,069
Lease liabilities, current portion 73,624 66,193
Total current liabilities 1,398,629 2,072,787
Long Term Liabilities    
Loans 337,084 0
Lease liabilities 290,489 342,812
Total Long Term Liabilities 627,573 342,812
Total liabilities 2,026,202 2,415,599
Stockholders' Equity    
Common stock, $0.0001 par value; 80,000,000 shares authorized; 25,015,710 and 8,421,401 shares issued and outstanding, respectively 2,500 842
Additional paid in capital 58,281,673 49,933,736
Stock payable 224,163 43,528
Stock receivable (85,626) 0
Accumulated deficit (55,087,728) (45,217,437)
Total stockholders' equity 3,334,983 4,760,670
Total liabilities and stockholders' equity 5,361,185 7,176,269
Series A Convertible Preferred Stock    
Stockholders' Equity    
Preferred stock 1 1
Series B Convertible Preferred Stock    
Stockholders' Equity    
Preferred stock $ 0 $ 0
v3.20.2
Condensed Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Expenses        
Research and development $ 1,769,339 $ 1,468,441 $ 4,774,534 $ 4,546,746
Sales and marketing 139,751 100,203 389,469 245,364
General and administrative 1,346,360 1,071,889 4,083,572 2,920,815
Total operating expenses 3,255,450 2,640,533 9,247,575 7,712,925
Operating loss (3,255,450) (2,640,533) (9,247,575) (7,712,925)
Other Expenses        
Amortization of debt discount 0 (728,417) (232,426) (728,417)
Other income (expense) (2,621) (44,612) 5,261 (55,328)
Total other expenses (2,621) (773,029) (227,165) (783,745)
Loss from operations before income taxes (3,258,071) (3,413,562) (9,474,740) (8,496,670)
Provision for income taxes 0 0 0 0
Net loss (3,258,071) (3,413,562) (9,474,740) (8,496,670)
Deemed dividend (395,551) 0 (395,551) 0
Net loss attributable to common stockholders $ (3,653,622) $ (3,413,562) $ (9,870,291) $ (8,496,670)
Net loss per share - basic and diluted $ (0.15) $ (0.46) $ (0.41) $ (1.14)
Weighted average common shares - basic and diluted 23,889,591 7,428,788 23,808,012 7,424,713
v3.20.2
Condensed Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities    
Net loss $ (9,474,740) $ (8,496,670)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 45,114 59,673
Common stock, options and warrants issued for services 1,559,232 1,020,300
Amortization of debt discount 232,426 728,417
Amortization of right of use assets 48,859 0
Stock payable for investor relations 30,000 0
Changes in operating assets and liabilities:    
Increase in prepaid expenses (444,805) (61,234)
Decrease in lease liability (44,892) 0
Increase in inventory (209,766) (68,387)
Decrease (increase) in other asset 29,250 (93,075)
(Decrease) increase in accounts payable and accrued liabilities (444,167) 229,640
Net cash used in operating activities (8,673,489) (6,681,336)
Cash Flows from Investing Activities:    
Purchases of fixed assets (10,483) (5,238)
Net cash used in investing activities (10,483) (5,238)
Cash Flows from Financing Activities    
Proceeds from senior secured convertible promissory notes, net of fees 0 2,490,501
Proceeds from warrant exercise 4,644,084 0
Proceeds from loans 337,084 0
Proceeds from issuance of common stock 1,321,890 0
Net cash provided by financing activities 6,303,058 2,490,501
Net decrease in cash (2,380,914) (4,196,073)
Cash, beginning of period 6,174,207 6,471,375
Cash, end of period 3,793,292 2,275,302
Supplemental disclosures of cash items:    
Interest paid 1,920 0
Income tax paid 0 0
Supplemental disclosures of non-cash items:    
Discount on convertible notes 0 2,490,501
Conversion of convertible notes and accrued interest 493,814 140,405
Deemed dividend related to warrant repriced 395,551 0
Conversion of Series A Convertible Preferred Stock (717) 0
Conversion of Series B Convertible Preferred Stock (36) 0
Stock dividend payable (47,641) 0
Right of use asset 356,060 (420,488)
Lease liability $ 364,113 $ 424,210