Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
operating activities:    
Net Loss $ (4,864,961) $ (4,057,075)
Adjustments to reconcile net loss from operations to net cash used in    
Stock-based compensation 329,499 975,421
Depreciation and amortization 17,221 28,357
(Gains) loss on marketable securities 49,116 (195,892)
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimburseable project costs 175,887 (324,592)
Prepaid expenses and other assets 285,651 (184,407)
Accounts payable, accrued liabilities and other current liabilities 91,405 (1,295,210)
Net Cash Used In Operating Activities (3,916,182) (5,053,398)
Investing Activities:    
Proceeds from the sale of marketable securities 1,572,242 3,979,469
Purchase of Marketable securities (38,880) (234,963)
Patent costs (98,572) (63,521)
Property and equipment 0 936
Net Cash Provided By Investing Activities 1,434,790 3,681,921
Financing Activities:    
Net proceeds from the issuance of common stock 3,958,040 1,733
Restricted cash (1,326) (1,799)
Net Cash Provided By (Used In) Financing Activities 3,956,714 (66)
Net Increase (Decrease) In Cash and Cash Equivalents 1,475,322 (1,371,543)
Cash and Cash Equivalents, Beginning of Year 2,197,555 3,569,098
Cash and Cash Equivalents, End of Year 3,672,877 2,197,555
Cash paid during the year:    
Interest paid 0 0
Income taxes paid $ 0 $ 0