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, 2015
Mar. 31, 2014
Operating Activities:    
Net Income (Loss) $ 117,662 $ (3,408,252)
Adjustments to reconcile net income (loss) from operations to net cash used in operating activities:    
Stock-based compensation 81,680 59,796
Loss on marketable securities 0 (434)
Warrant revaluation (1,197,986) 1,974,330
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimburseable project costs 150,703 (81,822)
Prepaid expenses and other assets (114,309) (172,937)
Accounts payable and accrued liabilities (66,983) 160,113
Net Cash Used In Operating Activities (1,029,233) (1,469,206)
Investing Activities:    
Payments for Patent costs (19,302) (26,420)
Net Cash Used In Investing Activities (19,302) (26,420)
Financing Activities:    
Restricted cash (160) (179)
Net Cash Used In Financing Activities (160) (179)
Net Decrease In Cash and Cash Equivalents (1,048,695) (1,495,805)
Cash and Cash Equivalents, Beginning of Period 4,220,225 3,672,877
Cash and Cash Equivalents, End of Period 3,171,530 2,177,072
Cash paid during the year:    
Interest paid 0 0
Income taxes paid $ 0 $ 0