Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and cash equivalents $ 16,966,168 $ 13,427,222
Prepaid expenses 267,518 245,441
Other current assets 322,593 229,755
Total Current Assets 17,556,279 13,902,418
Property and equipment, net 2,981,225 3,119,643
Operating lease right-of-use assets 381,483
Intangible assets, net 372,305 466,905
Total Assets 21,291,292 17,488,966
Current Liabilities    
Accounts payable 627,253 807,162
Accrued liabilities 2,168,588 923,034
Management and directors' fees payable 21,979 1,200
Current portion of long-term debt 647,569 416,553
Current portion of financing lease liabilities 97,946 145,150
Current portion of operating lease liabilities 257,244
Current portion of grant repayable 39,295 40,094
Total Current Liabilities 3,859,874 2,333,193
Long-term debt, net of current portion 2,195,278 1,984,262
Financing lease liabilities, net of current portion 607,708 720,013
Operating lease liabilities, net of current portion 131,875
Grant repayable, net of current portion 297,991 311,042
Total Liabilities 7,092,726 5,348,510
STOCKHOLDERS' EQUITY    
Common Stock Authorized: 100,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 41,125,303 shares and 35,335,378 shares, respectively 41,125 35,335
Additional paid-in capital 103,853,627 85,604,271
Accumulated other comprehensive income 125,670 223,651
Accumulated deficit (89,821,856) (73,722,801)
Total Stockholders' Equity 14,198,566 12,140,456
Total Liabilities and Stockholders' Equity $ 21,291,292 $ 17,488,966