Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY

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CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS EQUITY (USD $)
Common Stock [Member]
Additional Paid-In Capital [Member]
Deficit [Member]
Stock Commited Future Issuance [Member]
Total
Beginning Balance at Dec. 31, 2011 $ 12,427 $ 70,946,951 $ (62,155,774) $ 34,750 $ 8,838,354
Beginning Balance (Shares) at Dec. 31, 2011 12,427,220        
Shares issued-stock grants 99 45,759   (44,125) 1,733
Shares issued-stock grants (Shares) 99,020        
Net loss for the year     (4,057,075)   (4,057,075)
Stock-based compensation   962,921   12,500 975,421
Ending Balance at Dec. 31, 2012 12,526 71,955,631 (66,212,849) 3,125 5,758,433
Ending Balance (Shares) at Dec. 31, 2012 12,526,240        
Proceeds from the sale of common stock - net of offering costs 2,531 3,958,634   (3,125) 3,958,040
Proceeds from the sale of common stock - net of offering costs (Shares) 2,531,003        
Net loss for the year     (4,864,961)   (4,864,961)
Stock-based compensation   329,499     329,499
Ending Balance at Dec. 31, 2013 $ 15,057 $ 76,243,764 $ (71,077,810)   $ 5,181,011
Ending Balance (Shares) at Dec. 31, 2013 15,057,243