Quarterly report pursuant to Section 13 or 15(d)

Statement of Financial Position

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Statement of Financial Position (USD $)
Jun. 30, 2012
Dec. 31, 2011
Current Assets    
Cash and cash equivalents $ 827,486 $ 3,569,098
Marketable securities 4,979,827 5,146,823
Restricted cash 552,850 551,883
Accounts receivable - project revenue and reimbursable project costs 664,390 277,211
Prepaid expenses & other current assets 554,744 269,697
Total Current Assets 7,579,297 9,814,712
Property Plant and Equipment -net 51,735 46,514
Other Assets    
Patent costs - net 576,031 537,075
Security deposits 80,324 120,486
Total Other Assets 656,355 657,561
Total Assets 8,287,387 10,518,787
Current Liabilities    
Accounts payable and accrued liabilities 930,324 1,680,433
Total Current Liabilities 930,324 1,680,433
Stockholders' Equity    
Preferred stock 0 0
Common stock 12,504 12,427
Additional paid in capital - stock and stock equivalents 71,608,677 70,946,951
Deficit (64,267,243) (62,155,774)
Common stock reserved for issuance 3,125 34,750
Total Stockholders' Equity 7,357,063 8,838,354
Total Liabilities and Stockholders' Equity $ 8,287,387 $ 10,518,787