Quarterly report pursuant to Section 13 or 15(d)

Statement of Cash Flows

 v2.3.0.11
Statement of Cash Flows (USD $)
 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Operating Activities:    
Net Loss $ (2,800,671) $ (3,687,343)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 784,936 1,582,092
Depreciation and amortization 13,914 13,416
Unrealized gain on marketable securities (85,521) 0
Changes in non-cash operating working capital items:    
Accounts receivable - fees and reimburseable project costs (299,829) 1,288,432
Prepaid expenses and other assets (447,374) 184,994
Accounts payable, accrued liabilities and other current liabilities (611,353) 87,766
Deferred revenue 480,290 213,300
Net Cash Used In Operating Activities (2,965,608) (317,343)
Investing Activities:    
Marketable securities 1,933,867 0
Property and equipment (1,563) 0
Patent costs (44,879) (22,871)
Net Cash Provided by (Used In) Investing Activities 1,887,425 (22,871)
Financing Activities:    
Restricted cash (906) 388,874
Net Cash Provided by (Used In) Financing Activities (906) 388,874
Net Increase (Decrease) In Cash and Cash Equivalents (1,079,089) 48,660
Cash and Cash Equivalents, Beginning of Period 2,373,421 3,028,791
Cash and Cash Equivalents, End of Period 1,294,332 3,077,451
Supplemental Disclosure of Cash Flow Information    
Interest paid 0 0
Income taxes paid 0 0
Non-Cash Financing Activity:    
Grant of Common Stock for Payment of Accrued Liabilities $ 0 $ 703,652