v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating Expenses:        
Research and development $ 159,926 $ 385,770 $ 417,471 $ 1,110,512
Research and development - related party 50,000 25,000 111,667 50,000
General and administrative 693,405 297,936 1,107,525 686,049
Total Operating Expenses 903,331 708,706 1,636,663 1,846,561
Loss From Operations (903,331) (708,706) (1,636,663) (1,846,561)
Other (Expense) Income:        
Interest expense (81,164) (65,063) (157,647) (150,424)
Interest expense - related parties (12,715) (12,610) (23,881) (38,033)
Amortization of debt discount (36,228) (6,529) (44,530) (6,529)
Change in fair value of derivative liabilities 0 32,400 16,977 85,000
Warrant modification expense 0 (229,400) 0 (229,400)
Loss on exchange of notes payable for Series A Convertible Preferred Stock 0 0 0 (262,470)
Loss on extinguishment of debt (131,250) (1,504) (132,691) (1,504)
Gain on forgiveness of accrued expenses 0 38,427 0 38,427
Total Other Expense (261,357) (244,279) (341,772) (564,933)
Net Loss (1,164,688) (952,985) (1,978,435) (2,411,494)
Dividend attributable to Series A preferred stockholders (211,885) (188,973) (423,190) (337,008)
Net Loss Applicable to Common Stockholders $ (1,376,573) $ (1,141,958) $ (2,401,625) $ (2,748,502)
Net Loss Per Common Share - Basic and Diluted $ (0.05) $ (0.04) $ (0.08) $ (0.10)
Weighted Average Common Shares Outstanding - Basic and Diluted 30,020,692 28,139,110 29,570,645 28,130,327

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