Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 4,355,340 $ 10,977,974
Short-term investments (Note 1) 12,932,567 1,162,904
Accounts receivable - trade (Note 8) 56,068   
Prepaid expenses and other current assets 503,034 387,480
Total current assets 17,847,009 12,528,358
Property and equipment, net (Note 2) 2,319,067 2,484,539
Other long term assets, net (Note 3) 1,615,811 1,601,894
Total assets 21,781,887 16,614,791
Current liabilities:    
Accounts payable 870,356 613,925
Accrued compensation 43,543 452,878
Accrued expenses 972,245 642,055
Notes and other obligations, current portion (Note 4) 421,869 2,290,292
Deferred revenue, current portion (Note 7) 92,868 79,803
Total current liabilities 2,400,881 4,078,953
Notes and other obligations, less current portion (Note 4) 2,187,186 763,132
Deferred revenue, less current portion (Note 7) 1,324,514 1,081,706
Total liabilities 5,912,581 5,923,791
Commitments and contingencies (Notes 7 and 8)      
Stockholders' equity (Notes 5 and 6):    
Common stock, no par value, 60,000,000 shares authorized; 21,454,380 and 9,954,380 shares issued and outstanding 99,121,317 84,924,133
Accumulated deficit (83,252,011) (74,233,133)
Total stockholders' equity 15,869,306 10,691,000
Total liabilities and stockholders' equity $ 21,781,887 $ 16,614,791