Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 3,985,102 $ 5,658,683
Short-term investments (Note 1) 8,873,203 8,642,648
Prepaid expenses and other current assets (Note 1) 423,891 459,396
Total current assets 13,282,196 14,760,727
Property and equipment, net (Note 2) 2,217,042 2,266,982
Other long term assets, net (Notes 1 and 3) 1,624,792 1,612,160
Total assets 17,124,030 18,639,869
Current liabilities:    
Accounts payable 694,992 780,514
Accrued compensation 264,101 148,922
Accrued expenses 421,736 907,732
Notes and other obligations, current portion (Note 4) 217,892 319,771
Deferred revenue, current portion (Note 7) 96,698 92,084
Total current liabilities 1,695,419 2,249,023
Notes and other obligations, less current portion (Note 4) 2,112,469 2,150,608
Deferred revenue, less current portion (Note 7) 1,331,237 1,290,441
Total liabilities 5,139,125 5,690,072
Commitments and contingencies (Notes 7 and 8)      
Stockholders' equity (Notes 5 and 6):    
Common stock, no par value, 60,000,000 shares authorized; 22,615,950 and 21,454,380 shares issued and outstanding 101,314,342 99,331,585
Accumulated deficit (89,329,437) (86,381,788)
Total stockholders' equity 11,984,905 12,949,797
Total liabilities and stockholders' equity $ 17,124,030 $ 18,639,869