Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.4.0.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating Activities:    
Net (Loss) Income $ (334,705) $ 117,662
Adjustments to reconcile net (loss) income from operations to net cash used in operating activities:    
Stock-based compensation 185,456 81,680
Warrant revaluation (1,253,854) (1,197,986)
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimbursable project costs (13,822) 150,703
Prepaid expenses and other assets (308,438) (114,309)
Accounts payable and accrued liabilities 505,498 (66,983)
Deferred lease abandonment liability (95,008) 0
Net Cash Used In Operating Activities (1,314,873) (1,029,233)
Investing Activities:    
Patent costs (61,599) (19,302)
Net Cash Used In Investing Activities (61,599) (19,302)
Financing Activities:    
Net proceeds from the issuance of common stock 1,396,339 0
Proceeds from the issuance of note payable 135,000 0
Repayment of note payable (26,786) 0
Restricted cash 0 (160)
Net Cash Provided By (Used In) Financing Activities 1,504,553 (160)
Net Increase (Decrease) In Cash and Cash Equivalents 128,081 (1,048,695)
Cash and Cash Equivalents, Beginning of Period 623,184 4,220,225
Cash and Cash Equivalents, End of Period 751,265 3,171,530
Cash paid during the period:    
Interest paid 484 0
Income taxes paid $ 0 $ 0