Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.20.1
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Basic and Diluted Loss Per Common Share

The following table summarizes net loss attributable to common stockholders used in the calculation of basic and diluted loss per common share:

 

    For the Years Ended  
    December 31,  
    2019     2018  
Net loss   $ (7,625,397 )   $ (13,042,709 )
Deemed dividend to Series A and B preferred stockholders     -       (3,310,001 )
Net loss attributable to common stockholders   $ (7,625,397 )   $ (16,352,710 )

Summary of Potentially Dilutive Common Stock Equivalents

The following table summarizes the number of potentially dilutive common stock equivalents excluded from the calculation of diluted net loss per common share as of December 31, 2019 and 2018:

 

    December 31,  
    2019     2018  
Shares of common stock issuable upon exercise of warrants     4,366,960       3,780,571  
Shares of common stock issuable upon exercise of options and restricted stock units     2,687,367       2,883,256  
Potentially dilutive common stock equivalents excluded from diluted net loss per share     7,054,327       6,663,827  

Schedule of Revenue Recognized

The following table summarizes the Company’s revenue recognized in the accompanying statements of operations:

 

    For the Years Ended  
    December 31,  
    2019     2018  
Royalty income     31,243       116,152  
Contract research - related party     -       70,400  
Total Revenues   $ 31,243     $ 186,552