Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current Assets    
Cash and cash equivalents $ 2,197,555 $ 3,569,098
Marketable securities 1,598,209 5,146,823
Restricted cash 553,682 551,883
Accounts receivable - project revenue and reimbursable project costs 601,803 277,211
Prepaid expenses & other current assets 574,590 269,697
Total Current Assets 5,525,839 9,814,712
Property Plant and Equipment -net 17,221 46,514
Other Assets    
Patent costs - net 600,596 537,075
Security deposits 0 120,486
Total Other Assets 600,596 657,561
Total Assets 6,143,656 10,518,787
Current Liabilities    
Accounts payable and accrued liabilities 385,223 1,680,433
Total Current Liabilities 385,223 1,680,433
Stockholders' Equity    
Preferred stock, $0.001 par value, 50,000,000 authorized shares, no shares issued and outstanding 0 0
Common stock, $0.001par value, 500,000,000 authorized, 12,540,686 shares issued, 12,526,240 shares outstanding and 12,476,414 shares issued, 12,427,220 shares outstanding at December 31, 2012 and December 31, 2011, respectively 12,526 12,427
Additional paid in capital - stock and stock equivalents 71,955,631 70,946,951
Deficit (66,212,849) (62,155,774)
Common stock reserved for issuance, 2,264 shares and 17,120 shares at December 31, 2012 and December 31, 2011, respectively 3,125 34,750
Total Stockholders' Equity 5,758,433 8,838,354
Total Liabilities and Stockholders' Equity $ 6,143,656 $ 10,518,787