Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.6.0.2
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Revenue:    
Consulting Revenue $ 760,577 $ 910,531
Cost of Consulting Services Provided 456,565 694,292
Gross Margin 304,012 216,239
Operating Expenses    
General and administrative 5,190,549 5,350,285
Research and development expenses 2,748,337 1,484,164
Total Operating Expenses 7,938,886 6,834,449
Operating Loss (7,634,874) (6,618,210)
Other Income and (Expenses)    
Warrant revaluation 1,672,573 2,306,117
Warrant modification expense (162,398)
Interest income 316 705
Financing costs (191,345)
Interest expense and other income (expenses) (29,448) (6,762)
Total Other Income and (Expenses) 1,289,698 2,300,060
Net loss before income taxes (6,345,176) (4,318,150)
Income taxes 0 0
Net loss (6,345,176) (4,318,150)
Accumulated preferred stock (80,578)
Deemed dividend on convertible preferred stock dividend conversion due to beneficial feature (581,300)
Net loss attributable to common stockholders $ (7,007,054) $ (4,318,150)
Net Loss Per Common Share, Basic and Diluted $ (1.48) $ (1.18)
Weighted Average Number of Shares Outstanding 4,728,943 3,647,860