Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Cash Flows

v2.4.0.6
Consolidated Statement of Cash Flows (USD $)
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Operating Activities:    
Net Loss $ (796,534) $ (1,638,739)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock based compensation 350,745 404,377
Depreciation and amortization 6,166 7,297
Unrealized (gains) loss on marketable securities (87,929) 37,756
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimbursable project costs (648,043) 85,597
Prepaid expenses and other assets (67,901) (830,610)
Accounts payable, accrued liabilities and other current liabilities (268,122) (188,061)
Deferred revenue 0 837,130
Net Cash Used In Operating Activities (1,511,618) (1,285,253)
Investing Activities:    
Proceeds from the sale of marketable securities 0 1,949,893
Purchase of Marketable securities (63,010) 0
Property and equipment 0 (1,540)
Patent costs (28,029) (21,877)
Net Cash Provided By (Used In) Investing Activities (91,039) 1,926,476
Financing Activities:    
Restricted cash (549) (283)
Net Cash Used In Financing Activities (549) (283)
Net Increase (Decrease) In Cash and Cash Equivalents (1,603,206) 640,940
Cash and Cash Equivalents, Beginning of Period 3,569,098 2,373,421
Cash and Cash Equivalents, End of Period 1,965,892 3,014,361
Supplemental Disclosure of Cash Flow Information:    
Interest paid 0 0
Income taxes paid $ 0 $ 0