Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash $ 20,802,542 $ 1,232,030
Prepaid expenses and other current assets 1,672,802 788
Total current assets 22,475,344 1,232,818
Property and equipment, net 17,608 8,758
Deferred offering costs 191,000
TOTAL ASSETS 22,492,952 1,432,576
CURRENT LIABILITIES    
Accounts payable and accrued expenses 814,557 489,292
Total current liabilities 814,557 489,292
PPP loan payable 108,500
TOTAL LIABILITIES 923,057 489,292
COMMITMENTS AND CONTINGENCIES (NOTE 4)
STOCKHOLDERS’ EQUITY    
Preferred Stock - Par Value (1,000,000 authorized at September 30, 2020; 3,480,000 authorized at December 31, 2019; $.0001 par value) (Zero shares issued and outstanding at September 30, 2020; 2,438,866 shares issued and outstanding at December 31, 2019) 244
Common Stock – Par Value (25,000,000 authorized at September 30, 2020; 12,180,000 authorized at December 31, 2019; $.0001 par value) (6,217,577 shares issued and outstanding at September 30, 2020; 1,978,269 shares issued and outstanding at December 31, 2019) 622 198
Additional paid-in capital 31,333,164 7,694,547
Accumulated deficit (9,763,891) (6,751,705)
Total stockholders’ equity 21,569,895 943,284
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 22,492,952 $ 1,432,576