Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.8.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Revenue:    
Consulting Revenue $ 175,446 $ 760,577
Cost of Consulting Services Provided 107,091 456,565
Gross Margin 68,355 304,012
Operating Expenses    
General and administrative 4,383,066 5,190,549
Research and development expenses 2,282,938 2,748,337
Total Operating Expenses 6,666,004 7,938,886
Operating Loss (6,597,649) (7,634,874)
Other Income and (Expenses)    
Warrant revaluation 1,672,573
Warrant modification expense (162,398)
Interest income 65 316
Financing costs (491,218) (191,345)
Interest expense (16,095) (29,448)
Total Other Income and (Expenses) (507,248) 1,289,698
Net loss before income taxes (7,104,897) (6,345,176)
Income taxes
Net loss (7,104,897) (6,345,176)
Accumulated preferred stock dividend (276,578) (80,578)
Deemed dividend on convertible preferred stock dividend conversion due to beneficial feature (581,300)
Net loss attributable to common stockholders $ (7,381,475) $ (7,007,054)
Net Loss Per Common Share, Basic and Diluted $ (0.71) $ (1.48)
Weighted Average Number of Shares Outstanding 10,424,481 4,728,943