Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows from Operating Activities:    
Net Loss $ (1,076,613) $ (5,063,393)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 1,017,449 227,274
Unrealized gain on marketable securities 0 (556)
Warrant revaluation (2,741,746) 1,213,051
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimbursable project costs 214,051 287,890
Prepaid expenses and other assets 92,615 (11,459)
Accounts payable and accrued liabilities (45,323) (87,224)
Net Cash Used In Operating Activities (2,539,567) (3,434,417)
Cash Flows from Investing Activities:    
Payments for Patent costs (59,627) (102,279)
Net Cash Used In Investing Activities (59,627) (102,279)
Cash Flows from Financing Activities:    
Net proceeds from the issuance of common stock 55,131 305,490
Restricted cash (489) (834)
Net Cash Provided By Financing Activities 54,642 304,656
Net Decrease In Cash and Cash Equivalents (2,544,552) (3,232,040)
Cash and Cash Equivalents, Beginning of Period 4,220,225 3,672,877
Cash and Cash Equivalents, End of Period 1,675,673 440,837
Cash paid during the year:    
Interest 0 0
Income taxes 0 0
Non-Cash Financing Activity:    
Warrant liability - fair value of warrants exercised 0 331,144
Shares issued for stock offering costs $ 275,700 $ 0