Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 4,105,451 $ 3,226,997
Restricted cash 155,610 100,326
Prepaid expenses 304,427 231,797
Total current assets 4,565,488 3,559,120
Equipment - net 356,143 377,723
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 540,845 115,370
TOTAL ASSETS 9,816,341 8,406,078
CURRENT LIABILITIES    
Accounts payable 475,602 497,842
Note payable 118,046 0
Accrued expenses 829,724 610,206
Deferred rent liability 11,485 9,225
Lease liability 9,936 11,261
Total current liabilities 1,444,793 1,128,534
LONG TERM LIABILITIES    
Deferred tax liability 1,205,141 1,205,141
Lease liability - net of current portion 16,446 0
TOTAL LIABILITIES 2,666,380 2,333,675
Commitments
STOCKHOLDERS' EQUITY    
Convertible preferred stock, stated value $5.00 per share, Authorized amount issued and outstanding 1,600,000 and 0 shares as of December 31, 2016 and December 31, 2015, respectively (liquidation preference - $8,000,000 at December 31, 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 December 31, 2016 and December 31, 2015, respectively; 58,159,495 issued and outstanding as of December 31, 2016; 57,180,148 issued and outstanding as of December 31, 2015 5,817 5,719
Additional paid in capital 36,237,504 29,253,848
Accumulated deficit (35,179,710) (23,187,164)
Total stockholders' equity 7,149,961 6,072,403
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 9,816,341 $ 8,406,078