Balance Sheet

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 6,674,940 $ 15,194,949
Short-term investments 5,000,000 5,000,000
Trade and other receivables 312,802 10,491
Current portion of related party receivable, net of discount 58,784 53,081
Prepaid expenses 402,273 646,195
Total current assets 12,448,799 20,904,716
Property and equipment, net 172,886 269,557
Patents, net 883,462 990,153
Related party receivable, net of discount and current portion 365,456 424,240
Other assets 13,853 15,662
Total assets 13,884,456 22,604,328
CURRENT LIABILITIES    
Accounts payable and accrued expenses 875,065 2,343,936
Accrued bonuses 418,625 852,963
Current portion of long-term debt, net of fees and discount 3,705,787
Other current liabilities 220,879 430,738
Total current liabilities 1,514,569 7,333,424
Warrant liabilities 3,852,882 3,921,917
Other long term liabilities 1,876 18,209
Total liabilities 5,369,327 11,273,550
Commitments and contingencies (Note 9)
STOCKHOLDERS' EQUITY    
Preferred stock, 7,000,000 shares authorized, $0.01 par value; 1,000,000 shares issued and outstanding in both 2017 and 2016 10,000 10,000
Common stock, $0.01 par value; 300 million shares authorized, 15,160,014 and 11,032,858 shares issued and outstanding in 2017 and 2016, respectively 151,600 110,329
Additional paid-in capital 217,050,174 204,239,837
Accumulated other comprehensive income 2,631 3,905
Accumulated deficit (208,699,276) (193,033,293)
Total stockholders' equity 8,515,129 11,330,778
Total liabilities and stockholders' equity $ 13,884,456 $ 22,604,328

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