Note 1  Organization, Nature of Business, and Liquidity : Business Neurotrope BioScience was incorporated in Delaware on October 31, 2012. Neurotrope BioScience was formed to advance new therapeutic and diagnostic technologies in the field of neurodegenerative disease, primarily Alzheimers disease (AD). Neurotrope BioScience is collaborating with Cognitive Research Enterprises, Inc. (formerly known as the Blanchette Rockefeller Neurosciences Institute, or BRNI) (CRE), a related party, in this process. The exclusive rights to certain technology were licensed by CRE to the Company on February 28, 2013 (see Note 4). On September 9, 2019, the Company issued a press release announcing that the confirmatory Phase 2 study of bryostatin-1 in moderate to severe AD did not achieve statistical significance on the primary endpoint, which was change from baseline to Week 13 in the SIB total score. An average increase in SIB total score of 1.3 points and 2.1 points was observed for the bryostatin-1 and placebo groups, respectively, at Week 13. There were multiple secondary outcome measures in this trial, including the changes from baseline at Weeks 5, 9 and 15 in the SIB total score. No statistically significant difference was observed in the change from baseline in SIB total score between the bryostatin -1 and placebo treatment groups. On October 8, 2019, following the Companys announcement of top-line results from its Phase 2 study of bryostatin-1 in moderate to severe AD, the Company announced its plans to explore strategic alternatives to maximize shareholder value. The Companys Board of Directors (the Board) has formed a strategic alternatives committee to aid in evaluating its alternatives. The Company is continuing to determine how to proceed with respect to its current development programs for bryostatin-1 in its effort to maximize shareholder value. On January 22, 2020, the Company announced the completion of an additional analysis in connection with the confirmatory Phase 2 study, which examined moderately severe to severe AD patients treated with byrostatin-1 in the absence of memantine. To adjust for the baseline imbalance observed in the study, a post-hoc analysis was conducted using paired data for individual patients, with each patient as his/her own control. For the pre-specified moderate stratum (i.e., MMSE-2 baseline scores 10-15), the baseline value and the week 13 value were used, resulting in pairs of observations for each patient. The changes from baseline for each patient were calculated and a paired t-test was used to compare the mean change from baseline to week 13 for each patient. A total of 65 patients had both baseline and week 13 values, from which there were 32 patients in the bryostatin-1 treatment group and 33 patients in the placebo group. There was a statistically significant improvement over baseline (4.8 points) in the mean SIB at week 13 for subjects in the bryostatin-1 treatment group (32 subjects), paired t-test p &lt; 0.0076, 2-tailed. In the placebo group (33 subjects), there was also a statistically significant increase from baseline in the mean SIB at week 13, for paired t-test p &lt; 0.0144, consistent with the placebo effect seen in the overall 203 study. Although there was a signal of bryostatin-1s benefit for the moderately severe stratum, the difference between the bryostatin-1 and placebo treatment groups was not statistically significant (p=0.2727). Nasdaq Notice of Deficiency On October 23, 2019, the Company received a notification letter from The Nasdaq Stock Market (Nasdaq) informing the Company that for the last 30 consecutive business days, the bid price of the Companys securities had closed below $1.00 per share, which is the minimum required closing bid price for continued listing on The Nasdaq Capital Market pursuant to Listing Rule 5550(a)(2). This notice had no immediate effect on the Companys Nasdaq listing; the Company had 180 calendar days, or until April 20, 2020, to regain compliance. On January 17, 2020, the Company received a notification letter from Nasdaq informing the Company that for the last ten consecutive business days, the closing bid price of its common stock was $1.00 or greater. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5550(a)(2). Liquidity As of December 31, 2019, the Company had approximately $17.4 million in cash and cash equivalents. As of February 20, 2020, the Company had approximately $32.7 million in cash and cash equivalents. The increase in cash is attributable to the Companys issuance of preferred stock and warrants pursuant to a registered direct offering in January 2020 (see Subsequent Events Note 9 below) partially offset by cash used for operating activities during the 2020 period. The Company expects that its current cash and cash equivalents will be sufficient to support its projected operating requirements over at least the next 12 months from the Form 10-K filing date, which may include the continuing development of bryostatin, our novel drug targeting the activation of PKC epsilon. This development may include a follow-on Phase 2 clinical study, other non-clinical studies and additional studies in AD and other diseases that might benefit from using bryostatin. The Company is in the process of determining how to proceed with respect to the Companys current development programs for bryostatin which may affect how our financial resources are deployed. The Company expects to require additional capital in order to initiate and pursue potential additional development projects, including the continuing development of its lead candidate byrostatin-1. The future course of the Companys product research and development activities will be contingent upon the further analysis of results from its recently completed trial mentioned herein, in addition to the Companys concurrent plans to explore strategic alternatives to maximize shareholder value. Any additional equity financing, if available, may not be on favorable terms and would likely be significantly dilutive to the Companys current stockholders and debt financing, if available, may involve restrictive covenants. If the Company is able to access funds through collaborative or licensing arrangements, it may be required to relinquish rights to some of its technologies or product candidates that the Company would otherwise seek to develop or commercialize on its own, on terms that are not favorable to the Company. The Companys ability to access capital when needed is not assured and, if not achieved on a timely basis, will materially harm its business, financial condition and results of operations.