Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.4
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 5,875,796 $ 16,943,905
Short-term investments 31,009 33,248
Prepaid expenses and other current assets 996,682 737,316
Total current assets 6,903,487 17,714,469
Property and equipment, net 321 4,671
Intangible assets, net 20,838 27,614
Total assets 6,924,646 17,746,754
Current liabilities:    
Accounts payable 2,975,398 408,981
Accrued liabilities 3,437,646 520,093
Total current liabilities 6,413,044 929,074
Convertible debt, net of issuance costs and debt discount   3,906,057
Derivative liability   5,379,878
Warrant liability 1,859,374 1,871,687
Total liabilities 8,272,418 12,086,696
Commitments and contingencies (Note 16)
Shareholders' equity (deficit):    
Series 1 Convertible Preferred Shares, no par value, 70,000,000 shares authorized, 70,000,000 and 0 shares issued and outstanding as of December 31, 2022 and December 31, 2021, respectively
Additional paid-in capital 79,101,061 68,039,178
Accumulated other comprehensive loss (195,369) (187,919)
Accumulated deficit (80,253,464) (62,191,201)
Total shareholders' (deficit) equity (1,347,772) 5,660,058
Total liabilities and shareholders' (deficit) equity $ 6,924,646 $ 17,746,754