Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 751,265 $ 623,184
Restricted cash 325,832 325,832
Accounts receivable - project revenue and reimbursable project costs 153,619 139,797
Prepaid expenses and other current assets 476,467 168,029
Total Current Assets 1,707,183 1,256,842
Other Assets    
Patent costs 1,012,193 950,594
Total Assets 2,719,376 2,207,436
Current Liabilities    
Accounts payable and accrued liabilities 1,651,786 1,182,371
Note payable 108,214 0
Total Current Liabilities 1,760,000 1,182,371
Long-Term Liabilities    
Deferred lease abandonment liability 138,013 196,938
Derivative warrant liability 1,073,341 2,327,195
Total Liabilities $ 2,971,354 $ 3,706,504
Commitments and contingencies -
Stockholders' Equity (Deficiency)    
Preferred stock, $0.001 par value, 50,000,000 authorized shares, no shares issued and outstanding $ 0 $ 0
Common stock, $0.001 par value, 500,000,000 authorized, 20,828,957 shares outstanding at March 31, 2016 and 18,628,957 at December 31, 2015 20,829 18,629
Additional paid-in capital 74,433,339 72,853,744
Accumulated deficit (74,706,146) (74,371,441)
Total Stockholders' Equity (Deficiency) (251,978) (1,499,068)
Total Liabilities and Stockholders' Equity (Deficiency) $ 2,719,376 $ 2,207,436