Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows from Operating Activities:    
Net Loss $ (902,342) $ (5,159,389)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 782,036 125,297
Loss on marketable securities 0 (792)
Warrant revaluation (1,658,251) 2,070,359
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimburseable project costs 221,942 17,685
Prepaid expenses and other assets 1,389 (50,203)
Accounts payable and accrued liabilities (201,097) 378,220
Net Cash Used In Operating Activities (1,756,323) (2,618,823)
Cash Flows from Investing Activities:    
Payments for Patent costs (50,215) (65,546)
Net Cash Used In Investing Activities (50,215) (65,546)
Cash Flows from Financing Activities:    
Payments for stock offering costs (42,097) 0
Restricted cash (324) (554)
Net Cash Used In Financing Activities (42,421) (554)
Net Decrease In Cash and Cash Equivalents (1,848,959) (2,684,923)
Cash and Cash Equivalents, Beginning of Period 4,220,225 3,672,877
Cash and Cash Equivalents, End of Period 2,371,266 987,954
Cash paid during the year:    
Interest 0 0
Income taxes $ 0 $ 0