Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Balance Sheets

v3.10.0.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 5,736,929 $ 6,674,940
Short-term investments 5,000,000
Trade and other receivables 161,979 312,802
Current portion of related party receivable, net of discount 62,248 58,784
Prepaid expenses 545,187 402,273
Total current assets 6,506,343 12,448,799
Property and equipment, net 107,154 172,886
Patents, net 788,733 883,462
Related party receivable, net of discount and current portion 290,354 365,456
Other assets 28,475 13,853
Total assets 7,721,059 13,884,456
CURRENT LIABILITIES    
Accounts payable and accrued expenses 835,749 875,065
Accrued bonuses 418,625
Other current liabilities 348,928 220,879
Total current liabilities 1,184,677 1,514,569
Warrant liabilities, at fair value 2,047,563 3,852,882
Other long term liabilities 9,715 1,876
Total liabilities 3,241,955 5,369,327
Commitments and contingencies (Note 5)
STOCKHOLDERS' EQUITY    
Preferred stock, 7,000,000 shares authorized, $0.01 par value; 1,000,000 shares issued and outstanding at both September 30, 2018 and December 31, 2017 10,000 10,000
Common stock, $0.01 par value; 300,000,000 shares authorized, 15,205,060 and 15,160,014 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 152,051 151,600
Additional paid-in capital 217,619,996 217,050,174
Accumulated other comprehensive income 630 2,631
Accumulated deficit (213,303,573) (208,699,276)
Total stockholders' equity 4,479,104 8,515,129
Total liabilities and stockholders' equity $ 7,721,059 $ 13,884,456