Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.6.0.2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 3,584,877 $ 623,184
Restricted cash 114,012 325,832
Accounts receivable - project revenue and reimbursable project 388,434 139,797
Prepaid expenses and other current assets 80,933 168,029
Deferred financing cost, net 491,168
Total Current Assets 4,659,424 1,256,842
Other Assets    
Patent costs 1,160,465 950,594
Deferred financing cost, net 982,486
Total Assets 6,802,375 2,207,436
Current Liabilities    
Accounts payable and accrued liabilities 1,216,321 1,182,371
Total Current Liabilities 1,216,321 1,182,371
Long-Term Liabilities    
Deferred lease abandonment liability 28,464 196,938
Derivative warrant liability 2,327,195
Total Liabilities 1,244,785 3,706,504
Stockholders' Equity (Deficiency)    
Preferred stock, $0.001 par value, 10,000,000 authorized shares, convertible Series A preferred shares, 1,020,000 shares issued and outstanding at December 31, 2016 and no shares issued and outstanding at December 31, 2015. 1,020
Common stock, $0.001 par value, 100,000,000 authorized, 7,112,143 shares and 3,725,819 shares issued and outstanding as of December 31, 2016 and, 2015, respectively 7,112 3,726
Additional paid-in capital 86,266,075 72,868,647
Accumulated Deficit (80,716,617) (74,371,441)
Total Stockholders' Equity (Deficiency) 5,557,590 (1,499,068)
Total Liabilities and Stockholders' Equity (Deficiency) $ 6,802,375 $ 2,207,436