Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.19.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenue:    
Consulting Revenue $ 175,446
Cost of Consulting Services Provided 107,091
Gross Margin 68,355
Operating Expenses    
General and administrative 6,715,378 4,383,066
Research and development expenses 3,458,377 2,282,938
Total Operating Expenses 10,173,755 6,666,004
Other Operating Income and (Loss)    
Other income from joint venture 1,056,551
Equity in loss from joint venture (5,835,263)  
Total Operating Income and (Loss) (4,778,712)
Operating Loss (14,952,467) (6,597,649)
Other Income and (Expenses)    
Interest income 258,795 65
Financing costs (982,436) (491,218)
Interest expense (16,095)
Total Other Income and (Expenses) (723,641) (507,248)
Net Loss Before Income Taxes (15,676,108) (7,104,897)
Income Taxes
Net loss (15,676,108) (7,104,897)
Accumulated Preferred Stock Dividend (461,187) (276,578)
Deemed additional dividend on preferred stock dividend due to the beneficial conversion feature (187,892)
Deemed dividend on issuance on Series B convertible preferred stock due to the beneficial conversion feature (2,624,836)
Net Loss Attributable to Common Shareholders $ (18,950,023) $ (7,381,475)
Net Loss Per Common Share, Basic and Diluted $ (0.71) $ (0.71)
Weighted Average Number of Shares Outstanding 26,636,250 10,424,481