Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Operations

v3.19.1
Unaudited Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Unaudited Condensed Consolidated Statements Of Operations    
Revenue
Operating Expenses    
General and administrative 1,357,762 2,223,590
Research and development 922,235 911,034
Total Operating Expenses 2,279,997 3,134,624
Other Operating Income and (Loss)    
Other income from joint venture 355,281 400,343
Equity in loss from joint venture (1,295,032) (1,028,327)
Total Other Operating Income and Loss (939,751) (627,984)
Operating Loss (3,219,748) (3,762,608)
Other Income and (Expenses)    
Interest income 109,221 23,557
Financing costs (982,436)
Total Other Income and (Expenses) 109,221 (958,879)
Loss before income taxes (3,110,527) (4,721,487)
Income taxes
Net loss (3,110,527) (4,721,487)
Accumulated Preferred Stock Dividend (120,815) (112,902)
Deemed additional dividend on preferred stock dividend due to the beneficial conversion feature (51,371) (31,134)
Deemed dividend on issuance on Series B convertible preferred stock due to beneficial conversion feature (2,624,836)
Net loss attributable to common stockholders $ (3,282,713) $ (7,490,359)
Net Loss Per Common Share, Basic and Diluted $ (0.09) $ (0.39)
Weighted Average Number of Common Shares Outstanding 34,631,048 19,231,578