• Filing Date: 2019-08-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.19.2
Organization and Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2019
Accounting Policies [Abstract]  
Schedule of Accounts Receivable
Accounts receivable consist of the following:
 
June 30, 2019
 
December 31, 2018
 
(Unaudited)
 
(Audited)
Billed receivable
$
360,512

 
$
193,065

Unbilled receivable
143,998

 
125,679

 
$
504,510

 
$
318,744

Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consist of the following:
 
June 30, 2019
 
December 31, 2018
 
(Unaudited)
 
(Audited)
Prepaid expenses - various
$
103,030

 
$
91,725

Prepaid insurance
8,214

 
77,249

Prepaid taxes
892

 
3,027

 
$
112,136

 
$
172,001

Schedule of Accounts Payable
Accounts payable consist of the following:
 
June 30, 2019
 
December 31, 2018
 
(Unaudited)
 
(Audited)
Research and development expenses
$
753,629

 
$
240,064

Legal expenses
82,018

 

Other
127,617

 
68,996

 
$
963,264

 
$
309,060

Schedule of Accrued Expenses
Accrued expenses consist of the following:
 
June 30, 2019
 
December 31, 2018
 
(Unaudited)
 
(Audited)
Employee wages and benefits
$
258,616

 
$
268,287

Research and development expenses
90,085

 
49,666

Other
47,340

 
81,623

 
$
396,041

 
$
399,576

Schedule of Research and Development Costs
Research and development costs, including related party, during the three and six months ended June 30, 2019 and 2018 were as follows:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 

 

 

 

Outside contracted services
$
658,499

 
$
481,335

 
$
1,243,986

 
$
950,892

Contracted services - related party
336,310

 
340,849

 
725,783

 
733,398

Personnel related costs
122,290

 
95,558

 
217,052

 
190,548

Facilities, overhead and other
37,451

 
24,306

 
49,572

 
36,643

 
$
1,154,550

 
$
942,048

 
$
2,236,393

 
$
1,911,481