Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.2
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Summary of stock-based compensation expense
     Three Months Ended June 30,  
     2019      2018  
             
             
 Research and development expense   $ 390,600     $ 230,100  
                 
                 
 General and administrative expense     672,400       382,500  
                 
                 
 Total stock-based compensation expense   $ 1,063,000     $ 612,600  
Fair value assumptions
Assumption:   May 2019  
Market price per share at grant date   $ 0.80  
Exercise price per share   $ 1.00  
Risk-free interest rate     2.12 %
Expected term in years     5.53  
Volatility     85.90 %
Dividend rate     0.0 %
Shares     1,220,000  
         
Fair Value per share   $ 0.54  
Schedule of potentially dilutive securities excluded from computation of earnings per share

    As of June 30,
    2019   2018
         
Series A Preferred stock issued and outstanding (1)     750,000       750,000  
                 
Series B Preferred stock issued and outstanding (2)     1,160,240       1,160,240  
                 
Series C Preferred stock issued and outstanding (3)     2,318,012       2,318,012  
                 
Outstanding options under the Amended and Restated 2016 (formerly 2008) Stock Incentive Plan (4)     7,844,838       5,300,338  
                 
Outstanding warrants to purchase common stock     21,453,402       16,638,516  
                 
Total     33,526,492       26,167,106