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Note 2 - Liquidity
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Liquidity and Going Concern [Text Block]
NOTE
2
-
LIQUIDITY
 
The Company
continually projects anticipated cash requirements, predominantly from the ongoing funding requirements of our neuropeptide drug development program. The majority of these expenses relate to paying external vendors such as Contract Research Organizations (CROs) and peptide synthesizer companies. They could also include business combinations, capital expenditures, and new drug development working capital requirements. As shown in the accompanying consolidated condensed financial statements, the Company incurred a net loss of
$1,563,512
and
$1,719,749
for the
nine
months ended
September 30, 2017
and
2016,
respectively. The Company has incurred losses since inception resulting in an accumulated deficit of
$10,145,635
as of
September 30, 2017.
The Company anticipates further losses in the development of its business. The Company had a net working capital of
$1,681,705
at
September 30, 2017.
Based on its current forecast and budget, Management believes that its cash resources will be sufficient to fund its operations at least until the
fourth
quarter of
2018.
Absent generation of sufficient revenue from the execution of the Company’s business plan, it will need to obtain debt or equity financing by the
fourth
quarter of
2018.