Assets | ||||
| Current assets: | ||||
| Cash and cash equivalents | $ | 46,570,341 | ||
| Prepaid expenses | 185,999 | |||
| Interest receivable and other current assets | 11,602 | |||
| Total current assets | 46,767,942 | |||
| Equipment and leasehold improvements, net of accumulated depreciation and amortization | — | |||
| Total assets | $ | 46,767,942 | ||
Liabilities and Shareholders’ Deficit | ||||
| Current liabilities: | ||||
| Accounts payable | $ | 211,717 | ||
| Accrued professional fees | 278,676 | |||
| Accrued and other liabilities | 12,163 | |||
| Total current liabilities not subject to compromise | 502,556 | |||
| Prepetition liabilities | 306,890,836 | |||
| Shareholders’ deficit | ||||
| Common stock | 219,855,598 | |||
| Warrants | 598,173 | |||
| Accumulated deficit | (481,079,221 | ) | ||
| Total shareholders’ deficit | (260,625,450 | ) | ||
| Total liabilities and shareholders’ deficit | $ | 46,767,942 | ||
| Revenues | $ | — | ||
| Operating expenses: | ||||
| Research and development | — | |||
| General and administrative | 86,693 | |||
| Total operating expenses | 86,693 | |||
| Net loss before reorganization items | (86,693 | ) | ||
| Reorganization items, net | (277,624 | ) | ||
| Net loss | $ | (364,317 | ) | |
| Net loss per share — basic and diluted | $ | (0.01 | ) | |
| Weighted average shares outstanding — basic and diluted | 39,518,492 | |||
