Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

v3.24.0.1
BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current Assets:    
Cash and cash equivalents $ 6,234,000 $ 75,656,000
Prepaid expenses and other current assets 1,233,000 2,897,000
Total current assets 11,346,000 78,852,000
Property, plant and equipment, net 3,218,000 8,440,000
Fixed assets - construction in process 29,000 951,000
Restricted cash 750,000 1,000,000
Other assets 833,000 261,000
Operating lease right-of-use asset, net 1,566,000 2,918,000
Total Assets 17,742,000 92,422,000
Current Liabilities:    
Accounts payable and accrued expenses 14,017,000 13,731,000
Operating lease liabilities - short-term 520,000 612,000
Total current liabilities 15,371,000 15,109,000
Deferred income 270,000 270,000
Note payable, long-term, net 0 27,436,000
Operating lease liabilities - long-term 1,978,000 3,334,000
Total Liabilities 17,619,000 46,149,000
Commitments and Contingencies (Note 7)
Stockholders' Equity    
Preferred stock ($0.0001 par value), 2,000,000 shares authorized, 250,000 shares of Class A preferred stock issued and outstanding as of December 31, 2023 and December 31, 2022, respectively 0 0
Common stock issuable, 419,089 and 187,134 shares as of December 31, 2023 and December 31, 2022, respectively 591,000 1,109,000
Additional paid-in capital 380,502,000 374,522,000
Accumulated deficit (380,971,000) (329,369,000)
Total Stockholders' Equity 123,000 46,273,000
Total Liabilities and Stockholders' Equity 17,742,000 92,422,000
Related Party [Member]    
Current Assets:    
Other receivables 0 36,000
Current Liabilities:    
Payables and accrued expenses - related party 834,000 766,000
Nonrelated Party [Member]    
Current Assets:    
Other receivables 3,879,000 263,000
Class A common shares    
Stockholders' Equity    
Common stock ($0.0001 par value), 200,000,000 shares authorized as of December 31, 2023 and December 31, 2022, respectively 0 0
Common shares    
Stockholders' Equity    
Common stock ($0.0001 par value), 200,000,000 shares authorized as of December 31, 2023 and December 31, 2022, respectively $ 1,000 $ 11,000