Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 4,214,386 $ 3,584,877
Restricted cash 114,077 114,012
Accounts receivable - project revenue and reimbursable project costs 15,136 388,434
Prepaid expenses and other current assets 97,567 80,933
Deferred financing costs, net 491,168 491,168
Total Current Assets 4,932,334 4,659,424
Other Assets    
Patent costs 1,319,718 1,160,465
Deferred financing costs, net 614,072 982,486
Total Other Assets 1,933,790 2,142,951
Total Assets 6,866,124 6,802,375
Current Liabilities    
Accounts payable and accrued liabilities 1,328,393 1,216,321
Total Current Liabilities 1,328,393 1,216,321
Long-Term Liabilities    
Deferred lease abandonment liability 28,464
Total Liabilities 1,328,393 1,244,785
Stockholders' Equity    
Common stock, $0.001 par value, 100,000,000 authorized, 11,426,754 shares and 9,911,864 shares issued and outstanding as of September 30, 2017 and December 31, 2016, respectively 11,427 7,112
Additional paid-in capital 91,358,420 86,266,075
Accumulated deficit (85,833,136) (80,716,617)
Total Stockholders' Equity 5,537,731 5,557,590
Total Liabilities and Stockholders' Equity 6,866,124 6,802,375
Convertible Series A Preferred Shares    
Stockholders' Equity    
Preferred stock, $0.001 par value, 10,000,000 authorized shares, convertible Series A preferred shares, 1,020,000 shares issued and outstanding at September 30, 2017 and December 31, 2016. $ 1,020 $ 1,020