Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash $ 1,673,185 $ 3,226,997
Restricted cash - current 100,378 100,326
Prepaid expenses 138,017 231,797
Total current assets 1,911,580 3,559,120
Equipment - net 364,832 377,723
In-process research and development 3,017,377 3,017,377
Goodwill 1,336,488 1,336,488
Other assets including long term security deposit 115,371 115,370
TOTAL ASSETS 6,745,648 8,406,078
CURRENT LIABILITIES    
Accounts payable 620,564 497,842
Accrued expenses 689,238 610,206
Deferred rent liability 10,218 9,225
Lease liability 0 11,261
Total current liabilities 1,320,020 1,128,534
LONG TERM LIABILITIES    
Deferred tax liability 1,205,141 1,205,141
TOTAL LIABILITIES 2,525,161 2,333,675
STOCKHOLDERS' EQUITY    
Common stock par value $ 0.0001, 250,000,000 and 250,000,000 shares authorized, at March 31, 2016 and December 31, 2015, respectively; 57,593,414 issued and outstanding as of March 31, 2016; 57,180,148 issued and outstanding as of December 31, 2015 5,760 5,719
Additional paid in capital 29,646,501 29,253,848
Accumulated deficit (25,431,774) (23,187,164)
Total stockholders' equity 4,220,487 6,072,403
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,745,648 $ 8,406,078