Annual report pursuant to Section 13 and 15(d)

Statements of Operations

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Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenue
Operating expenses:    
Research and development 4,669,747 3,965,276
Sales and marketing 304,601 91,288
Depreciation and amortization expense 120,488 130,075
General and administrative expenses 3,107,813 3,001,969
Total operating expenses 8,202,649 7,188,608
Loss from operations (8,202,649) (7,188,608)
Other (expense) income:    
Interest expense (1,115,501) (295,830)
Other income 3,214 3,814
Total other (expense) income (1,112,287) (292,016)
Loss before income taxes (9,314,936) (7,480,624)
Income tax expense 0 0
Net loss (9,314,936) (7,480,624)
Dividends to Series A and Series B preferred stockholders (1,280,000) (1,280,000)
Net loss attributable to common stockholders $ (10,594,936) $ (8,760,624)
Net loss per common share, basic and diluted (in dollars per share) $ (5.64) $ (5.15)
Weighted average number of common shares outstanding, basic and diluted (in shares) 1,877,775 1,700,275