Annual report pursuant to Section 13 and 15(d)

Note 6 - Stock Subscriptions and Other Receivables and Concentrations of Credit Risk

v3.21.1
Note 6 - Stock Subscriptions and Other Receivables and Concentrations of Credit Risk
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]
6.
Stock Subscriptions and Other Receivables and Concentrations of Credit Risk
 
Stock subscriptions and other receivables at
December 31, 2020
and
2019
consist of the following:
 
   
2020
    
2019
  
Stock subscriptions
   $
2,925,000
     $
811,946
  
License revenue
    
58,754
      
—
  
Grant revenue
    
1,117
      
84,366
  
Other
    
2,448
      
5,027
  
Total stock subscriptions and other receivables
   $
2,987,319
     $
901,339
  
 
At
December 31, 2020
and
2019,
approximately
98%
and
90%,
respectively, of net stock subscriptions and other receivables were due from investors. As of
December 31, 2020
and
2019,
there was
no
allowance for doubtful accounts. We do
not
believe we are exposed to significant credit risk related to the stock subscriptions receivable due from the investors based on receipt of these amounts prior to the filing of this Annual Report on Form
10
-K.  We believe that we have adequately addressed credit risks in estimating the allowance for doubtful accounts. See Note
1
(g).