Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2021
Mar. 31, 2020
Current assets:    
Cash and cash equivalents $ 103,108,300 $ 1,355,100
Receivable from collaboration partner 40,600 0
Prepaid expenses and other current assets 835,100 225,100
Deferred contract acquisition costs - current portion 133,500 0
Total current assets 104,117,500 1,580,200
Property and equipment, net 367,400 209,600
Right of use asset - operating lease 3,219,600 3,579,600
Deferred offering costs 294,900 355,100
Deferred contract acquisition costs - non-current portion 234,100 0
Security deposits and other assets 47,800 47,800
Total assets 108,281,300 5,772,300
Current liabilities:    
Accounts payable 838,300 1,836,600
Accrued expenses 1,562,700 561,500
Current notes payable 0 56,500
Deferred revenue - current portion 1,420,200 0
Operating lease obligation - current portion 364,800 313,400
Finance lease obligation - current portion 3,000 3,300
Total current liabilities 4,189,000 27,713,000
Non-current liabilities:    
Accrued dividends on Series B Preferred Stock 6,272,700 5,011,800
Deferred revenue - non-current portion 2,490,300 0
Operating lease obligation - non-current portion 3,350,800 3,715,600
Finance lease obligation - non-current portion 0 3,000
Total non-current liabilities 12,113,800 8,730,400
Total liabilities 16,302,800 11,501,700
Stockholders' equity (deficit):    
Common stock, $0.001 par value; 325,000,000 shares and 175,000,000 shares authorized at March 31, 2021 and 2020, respectively; 180,751,234 and 49,348,707 shares issued at March 31, 2021 and 2020, respectively 180,800 49,300
Additional paid-in capital 315,603,100 200,092,800
Treasury stock, at cost, 135,665 shares of common stock held at March 31, 2021 and 2020 (3,968,100) (3,968,100)
Accumulated deficit (219,841,600) (201,907,400)
Total stockholders' equity (deficit) 91,978,500 (5,729,400)
Total liabilities and stockholders' equity (deficit) 108,281,300 5,772,300
Series A Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 500 500
Total stockholders' equity (deficit) 500 500
Series B Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 1,100 1,200
Total stockholders' equity (deficit) 1,100 1,200
Series C Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 23,000 2,300
Total stockholders' equity (deficit) 2,300 2,300
Series D Preferred Stock    
Stockholders' equity (deficit):    
Preferred stock 400 0
Total stockholders' equity (deficit) $ 400 $ 0