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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 269,964 $ 4,772,705
Marketable securities 2,755,111
Royalties receivable, net of reserves of $1,016,678 in 2021 and $972,202 in 2020 831,636 598,292
Prepaid expenses and other current assets 92,931 56,512
Total current assets 3,949,642 5,427,509
Fixed assets, net 92,954 121,772
Operating lease ROU assets 469,824 616,442
Deposits and other assets 33,567 33,567
Total assets 4,545,987 6,199,290
Current liabilities:    
Current portion of operating lease liability 182,091 166,377
Accounts payable 66,460 33,410
Accrued expenses and other 49,385 26,279
Total current liabilities 297,936 226,066
Operating lease liability, net of current portion 464,128 646,219
Total liabilities 762,064 872,285
Shareholders’ equity:    
Common stock, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 31,650,396 in 2021 and 31,575,786 in 2020 3,165 3,158
Additional paid-in capital 123,467,886 123,164,623
Accumulated deficit (119,687,128) (117,840,776)
Total shareholders’ equity 3,783,923 5,327,005
Total liabilities and shareholders’ equity $ 4,545,987 $ 6,199,290