Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 4,450,160 $ 1,547,579
Prepaid expenses 178,442 116,938
Total current assets 4,628,602 1,664,517
Property and equipment, net 44,346 18,716
Other assets:    
Patents, net 268,796 0
Trademarks 850 0
Deposits 54,238 17,084
Total assets 4,996,832 1,700,317
Current liabilities:    
Accounts payable and accrued expenses, including $32,366 and $27,375 to related parties as of December 31, 2018 and 2017, respectively 954,655 473,098
Dividends payable 242,908 447,901
Warrant liability 0 2,358,240
Derivative liability 0 685,922
Total current liabilities 1,197,563 3,965,161
Convertible Preferred Stock 475,000 985,000
Commitments and Contingencies (Note 11)
Stockholders' equity (deficit)    
Preferred stock 0 0
Common stock, $0.001 par value, authorized 200,000,000 shares, 16,868,783 and 11,728,482 issued and outstanding as of December 31, 2018 and 2017, respectively 16,869 11,728
Additional paid in capital 74,039,341 53,233,228
Common stock subscription 0 29,985
Accumulated deficit (70,731,941) (56,524,786)
Total stockholders' equity (deficit) 3,324,269 (3,249,844)
Total liabilities and stockholders' equity (deficit) 4,996,832 1,700,317
Series D Preferred Stock [Member]    
Current liabilities:    
Dividends payable 540,271  
Stockholders' equity (deficit)    
Preferred stock $ 0 $ 1