Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Operating Activities:    
Net Loss $ (1,433,922) $ (1,278,922)
Adjustments to reconcile net loss from operations to net cash used in    
Stock-based compensation 59,796 147,163
Depreciation and amortization 0 6,119
(Gains) loss on marketable securities (434) 3,359
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimbursable project costs (81,822) 183,690
Prepaid expenses and other assets (172,937) (131,779)
Accounts payable, accrued liabilities and other current liabilities 160,113 8,396
Net Cash Used In Operating Activities (1,469,206) (1,061,974)
Investing Activities:    
Purchase of Marketable securities 0 (17,866)
Patent costs (26,420) (34,357)
Net Cash Used In Investing Activities (26,420) (52,223)
Financing Activities:    
Restricted cash (179) (410)
Net Cash Used In Financing Activities (179) (410)
Net Decrease In Cash and Cash Equivalents (1,495,805) (1,114,607)
Cash and Cash Equivalents, Beginning of Period 3,672,877 2,197,555
Cash and Cash Equivalents, End of Period 2,177,072 1,082,948
Cash paid during the year:    
Interest paid 0 0
Income taxes paid $ 0 $ 0