Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Operating Activities:    
Net Loss $ (4,817,044)us-gaap_NetIncomeLoss $ (4,864,961)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss from operations to net cash used    
Stock-based compensation 282,275us-gaap_ShareBasedCompensation 329,499us-gaap_ShareBasedCompensation
Depreciation and amortization 0us-gaap_DepreciationAndAmortization 17,221us-gaap_DepreciationAndAmortization
Loss on marketable securities 1,297us-gaap_UnrealizedGainLossOnInvestments 49,116us-gaap_UnrealizedGainLossOnInvestments
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimbursable project costs (43,170)us-gaap_IncreaseDecreaseInAccountsReceivable 175,887us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other assets 83,755us-gaap_IncreaseDecreaseInPrepaidExpense 285,651us-gaap_IncreaseDecreaseInPrepaidExpense
Accounts payable, accrued liabilities and other current 177,040us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 91,405us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Net Cash Used In Operating Activities (4,315,847)us-gaap_NetCashProvidedByUsedInOperatingActivities (3,916,182)us-gaap_NetCashProvidedByUsedInOperatingActivities
Investing Activities:    
Proceeds from the sale of marketable securities 14,434us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 1,572,242us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities
Purchase of Marketable securities 0us-gaap_PaymentsToAcquireMarketableSecurities (38,880)us-gaap_PaymentsToAcquireMarketableSecurities
Patent costs (134,392)us-gaap_PaymentsToAcquireIntangibleAssets (98,572)us-gaap_PaymentsToAcquireIntangibleAssets
Net Cash Provided by (Used In) Investing Activities (119,958)us-gaap_NetCashProvidedByUsedInInvestingActivities 1,434,790us-gaap_NetCashProvidedByUsedInInvestingActivities
Financing Activities:    
Net proceeds from the issuance of common stock 4,753,326us-gaap_ProceedsFromIssuanceOfCommonStock 3,958,040us-gaap_ProceedsFromIssuanceOfCommonStock
Restricted cash 229,827us-gaap_IncreaseDecreaseInRestrictedCash (1,326)us-gaap_IncreaseDecreaseInRestrictedCash
Net Cash Provided by Financing Activities 4,983,153us-gaap_NetCashProvidedByUsedInFinancingActivities 3,956,714us-gaap_NetCashProvidedByUsedInFinancingActivities
Net Increase In Cash and Cash Equivalents 547,348us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 1,475,322us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and Cash Equivalents, Beginning of Year 3,672,877us-gaap_CashAndCashEquivalentsAtCarryingValue 2,197,555us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and Cash Equivalents, End of Year 4,220,225us-gaap_CashAndCashEquivalentsAtCarryingValue 3,672,877us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the year:    
Interest paid 0us-gaap_InterestPaid 0us-gaap_InterestPaid
Income taxes paid $ 0us-gaap_IncomeTaxesPaid $ 0us-gaap_IncomeTaxesPaid