Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating Activities:    
Net Loss $ (3,622,046) $ (3,359,117)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock based compensation 273,558 831,063
Depreciation and amortization 15,202 21,584
(Gains) loss on marketable securities 49,116 (141,893)
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimbursable project costs (26,986) (143,329)
Prepaid expenses and other assets 125,831 (316,466)
Accounts payable, accrued liabilities and other current liabilities (102,884) (586,078)
Net Cash Used In Operating Activities (3,288,209) (3,694,236)
Investing Activities:    
Proceeds from the sale of marketable securities 1,572,242 997,926
Purchase of Marketable securities (38,133) (242,074)
Patent costs (71,809) (43,502)
Property and equipment 0 (18,100)
Net Cash Provided By Investing Activities 1,462,300 694,250
Financing Activities:    
Proceeds from the issuance of common stock 0 1,733
Stock offering costs (8,000) 0
Restricted cash (1,049) (1,385)
Net Cash Provided By (Used In) Financing Activities (9,049) 348
Net Decrease In Cash and Cash Equivalents (1,834,958) (2,999,638)
Cash and Cash Equivalents, Beginning of Period 2,197,555 3,569,098
Cash and Cash Equivalents, End of Period 362,597 569,460
Cash paid during the year:    
Interest paid 0 0
Income taxes paid $ 0 $ 0