Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Operations

v3.5.0.2
Unaudited Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue:        
Consulting Revenue $ 83,219 $ 234,163 $ 372,142 $ 656,220
Cost of Consulting Services Provided 43,919 118,954 174,281 452,007
Gross Margin 39,300 115,209 197,861 204,213
Operating Expenses        
General and administrative 1,106,125 1,067,166 3,311,488 3,106,265
Research and development expenses 441,874 302,912 1,450,954 910,458
Total Operating Expenses 1,547,999 1,370,078 4,762,442 4,016,723
Operating Loss (1,508,699) (1,254,869) (4,564,581) (3,812,510)
Other Income and (Expenses)        
Warrant revaluation 78,442 1,083,495 1,643,941 2,741,746
Warrant modification expense (129,369)
Interest income 19 164 294 488
Financing costs (73,279) (85,650)
Other expenses (3,061) (62) (6,337)
Total Other Income and (Expenses) 5,182 1,080,598 1,429,154 2,735,897
Net loss before income taxes (1,503,517) (174,271) (3,135,427) (1,076,613)
Income taxes
Net loss (1,503,517) (174,271) (3,135,427) (1,076,613)
Accumulated preferred stock (32,667) (32,667)
Deemed dividend on convertible preferred stock, due to beneficial conversion feature (581,300) (581,300)
Net loss attributable to common stockholders $ (2,117,484) $ (174,271) $ (3,749,394) $ (1,076,613)
Net Loss Per Common Share, Basic and Diluted $ (0.44) $ (0.05) $ (0.91) $ (0.30)
Weighted Average Number of Shares Outstanding 4,804,044 3,634,030 4,105,107 3,622,393