Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current Assets    
Cash and cash equivalents $ 3,672,877 $ 2,197,555
Marketable securities 15,731 1,598,209
Restricted cash 555,008 553,682
Accounts receivable - project revenue and reimbursable project costs 425,916 601,803
Prepaid expenses & other current assets 288,939 574,590
Total Current Assets 4,958,471 5,525,839
Property Plant and Equipment -net 0 17,221
Other Assets    
Patent costs - net 699,168 600,596
Total Assets 5,657,639 6,143,656
Current Liabilities    
Accounts payable and accrued liabilities 476,628 385,223
Total Current Liabilities 476,628 385,223
Commitments and contingencies      
Stockholders' Equity    
Preferred stock, $0.001 par value, 50,000,000 authorized shares, no shares issued and outstanding 0 0
Common stock, $0.001 par value, 500,000,000 authorized, 15,057,243 shares outstanding and 12,526,240 shares outstanding at December 31, 2013 and December 31, 2012, respectively 15,057 12,526
Additional paid-in capital - stock and stock equivalents 76,243,764 71,955,631
Deficit (71,077,810) (66,212,849)
Common stock reserved for issuance, 2,264 shares at December 31, 2012 0 3,125
Total Stockholders' Equity 5,181,011 5,758,433
Total Liabilities and Stockholders' Equity $ 5,657,639 $ 6,143,656