Balance Sheet

v3.8.0.1
Unaudited Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 9,063,710 $ 15,194,949
Short-term investments 5,000,000 5,000,000
Trade and other receivables 37,458 10,491
Current portion of related party receivable, net of discount 57,291 53,081
Prepaid expenses 548,766 646,195
Total current assets 14,707,225 20,904,716
Property and equipment, net 196,191 269,557
Patents, net 915,457 990,153
Related party receivable, net of discount and current portion 356,174 424,240
Other assets 13,719 15,662
Total assets 16,188,766 22,604,328
CURRENT LIABILITIES    
Accounts payable and accrued expenses 1,476,683 2,343,936
Accrued bonuses 852,963
Current portion of long-term debt, net of fees and discount 3,705,787
Other current liabilities 358,044 430,738
Total current liabilities 1,834,727 7,333,424
Derivative liabilities 2,785,863 3,921,917
Other long-term liabilities 3,400 18,209
Total liabilities 4,623,990 11,273,550
Commitments and contingencies (Note 6)
STOCKHOLDERS' EQUITY    
Convertible preferred stock, 7,000,000 shares authorized, $0.01 par value; 1,000,000 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 10,000 10,000
Common stock, $0.01 par value; 300 million shares authorized, 15,146,027 and 11,032,858 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 151,460 110,329
Additional paid-in capital 216,784,493 204,239,837
Accumulated other comprehensive income 2,345 3,905
Accumulated deficit (205,383,522) (193,033,293)
Total stockholders' equity 11,564,776 11,330,778
Total liabilities and stockholders' equity $ 16,188,766 $ 22,604,328

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