Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash $ 6,219,641 $ 3,226,997
Restricted cash 55,583 100,326
Prepaid expenses 254,005 231,797
Total current assets 6,529,229 3,559,120
Equipment - net 368,822 377,723
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 54,844 115,370
TOTAL ASSETS 11,306,760 8,406,078
CURRENT LIABILITIES    
Accounts payable 209,463 497,842
Note payable 188,873 0
Accrued expenses 941,334 610,206
Deferred rent liability 11,226 9,225
Lease liability 9,743 11,261
Total current liabilities 1,360,639 1,128,534
LONG TERM LIABILITIES    
Deferred tax liability 1,205,141 1,205,141
Lease liability - net of current portion 19,004 0
TOTAL LIABILITIES 2,584,784 2,333,675
STOCKHOLDERS' EQUITY    
Convertible preferred stock, stated value $5.00 per share, 1,600,000 and 0 shares issued and outstanding as of September 30, 2016 and December 31, 2015 respectively (liquidation preference - $12,393,809 at September 30, 2016) Net of issuance costs. 6,086,350 0
Common stock par value $ 0.0001 per share, 250,000,000 and 250,000,000 shares authorized at September 30, 2016 and December 31, 2015, respectively; 57,919,709 issued and outstanding as of September 30, 2016; 57,180,148 issued and outstanding as of December 31, 2015 5,793 5,719
Additional paid in capital 35,917,737 29,253,848
Accumulated deficit (33,287,904) (23,187,164)
Total stockholders' equity 8,721,976 6,072,403
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 11,306,760 $ 8,406,078