Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 5,215,035 $ 3,584,877
Restricted cash 114,036 114,012
Accounts receivable - project revenue and reimbursable project costs 87,614 388,434
Prepaid expenses and other current assets 165,067 80,933
Deferred financing cost, net 491,168 491,168
Total Current Assets 6,072,920 4,659,424
Other Assets    
Patent costs 1,203,354 1,160,465
Deferred financing cost, net 859,682 982,486
Total Other Assets 2,063,036 2,142,951
Total Assets 8,135,956 6,802,375
Current Liabilities    
Accounts payable and accrued liabilities 1,159,163 1,216,321
Total Current Liabilities 1,159,163 1,216,321
Long-Term Liabilities    
Deferred lease abandonment liability 28,464
Total Liabilities 1,159,163 1,244,785
Stockholders' Equity (Deficiency)    
Common stock, $0.001 par value, 100,000,000 authorized, 9,716,004 shares and 7,112,143 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 9,716 7,112
Additional paid-in capital 89,427,982 86,266,075
Accumulated Deficit (82,461,925) (80,716,617)
Total Stockholders' Equity 6,976,793 5,557,590
Total Liabilities and Stockholders' Equity 8,135,956 6,802,375
Convertible Series A Preferred Shares    
Stockholders' Equity (Deficiency)    
Preferred stock, $0.001 par value, 10,000,000 authorized shares, convertible Series A preferred shares, 1,020,000 shares issued and outstanding at March 31, 2017 and December 31, 2016 $ 1,020 $ 1,020