Balance Sheet

v3.25.0.1

BALANCE SHEETS - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 2,590,000	$ 8,556,000
Marketable debt securities	0	6,220,000
Prepaid expenses and other current assets	773,000	688,000
Total current assets	3,363,000	15,464,000
Right-of-use asset, net	122,000	147,000
Other assets	1,298,000	1,684,000
Total assets	4,783,000	17,295,000
Current liabilities:
Accounts payable	1,219,000	3,048,000
Accrued expenses	508,000	891,000
Lease liability, current portion	28,000	20,000
Total current liabilities	1,755,000	3,959,000
Other long-term liabilities	0	36,000
Lease liability, net of long-term portion	110,000	138,000
Total liabilities	1,865,000	4,133,000
Commitments and contingencies
STOCKHOLDERS’ EQUITY
Preferred stock, par value $.0001. Authorized shares of 15,000,000 as of both December 31, 2024 and 2023, respectively. None issued and outstanding as of both December 31, 2024 and 2023, respectively.	0	0
Common stock, par value $.0001. Authorized shares of 135,000,000 as of both December 31, 2024 and 2023, respectively. Issued and outstanding shares of 15,122,873 and 13,709,377 as of December 31, 2024 and 2023, respectively.	2,000	1,000
Additional paid-in capital	69,699,000	63,676,000
Accumulated deficit	(66,783,000)	(50,515,000)
Total stockholders’ equity	2,918,000	13,162,000
Total liabilities and stockholders’ equity	$ 4,783,000	$ 17,295,000

- Definition

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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