v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Condensed Consolidated Statements of Operations (Unaudited)        
Revenue $ 0 $ 0 $ 0 $ 0
Operating Expenses        
General and administrative 2,028,667 1,230,154 3,965,421 2,587,916
Research and development 115,776 545,118 505,600 1,467,353
Total Operating Expenses 2,144,443 1,775,272 4,471,021 4,055,269
Other Operating Income and (Loss)        
Other income from joint venture 0 305,375 0 660,656
Equity in loss from joint venture 0 (1,962,318) 0 (3,257,350)
Total Other Operating Income and (Loss) 0 (1,656,943) 0 (2,596,694)
Operating Loss (2,144,443) (3,432,215) (4,471,021) (6,651,963)
Other Income        
Interest income 12,337 125,298 74,829 234,519
Total Other Income 12,337 125,298 74,829 234,519
Loss before income taxes (2,132,106) (3,306,917) (4,396,192) (6,417,444)
Income taxes 0 0 0 0
Net loss (2,132,106) (3,306,917) (4,396,192) (6,417,444)
Accumulated preferred stock dividend (128,238) (121,703) (254,149) (242,518)
Deemed additional dividend on preferred stock dividend due the beneficial conversion feature (55,294) (51,814) (109,611) (103,185)
Net loss attributable to common stockholders $ (2,315,638) $ (3,480,434) $ (4,759,952) $ (6,763,147)
Net Loss Per Common Share Basic and Diluted $ (0.66) $ (1.14) $ (1.40) $ (2.27)
Weighted Average Number of Common Shares Outstanding 3,486,566 3,064,548 3,390,782 2,975,728

Source