Annual report pursuant to Section 13 and 15(d)

Statement of Financial Position

v2.4.0.6
Statement of Financial Position (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current Assets    
Cash and cash equivalents $ 3,569,098 $ 2,373,421
Marketable securities 5,146,823 10,461,357
Restricted cash 551,883 550,283
Accounts receivable - project revenue and reimbursable project costs 277,211 990,563
Prepaid expenses and other current assets 269,697 365,261
Total Current Assets 9,814,712 14,740,885
Property, Plant and Equipment -net 46,514 72,179
Other Assets    
Patent costs - net 537,075 377,262
Security deposits 120,486 120,486
Total Other Assets 657,561 497,748
Total Assets 10,518,787 15,310,812
Current Liabilities    
Accounts payable and accrued liabilities 1,680,433 2,088,362
Deferred revenue 0 98,110
Total Current Liabilities 1,680,433 2,186,472
Commitments and contingencies 0 0
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, 12,476,414 shares issued, 12,427,220 shares outstanding and 12,430,058 shares issued, 12,345,840 shares outstanding at December 31, 2011 and December 31, 2010, respectively 12,427 12,346
Additional paid in capital - stock and stock equivalents 70,946,951 69,370,261
Deficit (62,155,774) (56,286,767)
Common stock reserved for issuance, 17,120 shares and 6,451 shares at December 31, 2011 and December 31, 2010, respectively 34,750 28,500
Total Stockholders' Equity 8,838,354 13,124,340
Total Liabilities and Stockholders' Equity $ 10,518,787 $ 15,310,812