Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and cash equivalents $ 4,515,398 $ 3,584,877
Restricted cash 114,012
Accounts receivable - project revenue and reimbursable project 10,400 388,434
Prepaid expenses and other current assets 70,067 80,933
Deferred financing cost, net 491,168 491,168
Total Current Assets 5,087,033 4,659,424
Other Assets    
Patent costs 1,367,692 1,160,465
Deferred financing cost, net 491,268 982,486
Total Other Assets 1,858,960 2,142,951
Total Assets 6,945,993 6,802,375
Current Liabilities    
Accounts payable and accrued liabilities 1,151,210 1,216,321
Total Current Liabilities 1,151,210 1,216,321
Long-Term Liabilities    
Deferred lease abandonment liability 28,464
Total Liabilities 1,151,210 1,244,785
Commitments and contingencies - Note 7
Stockholders' Equity    
Common stock, $0.001 par value, 100,000,000 authorized shares, 12,737,703 shares and 7,112,143 shares issued and outstanding as of December 31, 2017 and 2016, respectively 12,738 7,112
Additional paid-in capital 93,602,539 86,266,075
Accumulated Deficit (87,821,514) (80,716,617)
Total Stockholders' Equity 5,794,783 5,557,590
Total Liabilities and Stockholders' Equity 6,945,993 6,802,375
Convertible Series A Preferred Shares    
Stockholders' Equity    
Convertible 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, 2017 and December 31, 2016 $ 1,020 $ 1,020