Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash $ 578,313 $ 3,226,997
Restricted cash 55,557 100,326
Prepaid expenses 139,640 231,797
Total current assets 773,510 3,559,120
Equipment - net 382,489 377,723
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 5,564,708 8,406,078
CURRENT LIABILITIES    
Accounts payable 475,863 497,842
Accrued expenses 845,061 610,206
Deferred rent liability 10,967 9,225
Lease liability - current 9,616 11,261
Total current liabilities 1,341,507 1,128,534
LONG TERM LIABILITIES    
Deferred tax liability 1,205,141 1,205,141
Lease liability - net of current 20,681 0
TOTAL LIABILITIES 2,567,329 2,333,675
STOCKHOLDERS' EQUITY    
Common stock, par value $ 0.0001, 250,000,000 and 250,000,000 shares authorized, at June 30, 2016 and December 31, 2015, respectively; 57,593,414 issued and outstanding as of June 30, 2016; 57,180,148 issued and outstanding as of December 31, 2015 5,760 5,719
Additional paid in capital 30,047,278 29,253,848
Accumulated deficit (27,055,659) (23,187,164)
Total stockholders' equity 2,997,379 6,072,403
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,564,708 $ 8,406,078