Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flow from operating activities:    
Net loss $ (2,947,649) $ (2,802,169)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation for services 403,021 484,222
Depreciation and amortization 82,595 86,808
Amortization of license fee (23,175) (18,655)
Changes in:    
Accounts receivable (38,042)   
Prepaid expenses and other current assets 73,547 100,719
Accounts payable (85,522) 90,857
Accrued compensation 115,179 (421,183)
Accrued expenses (485,996) (189,306)
Deferred revenue 68,585 196,860
Net cash used in operating activities (2,837,457) (2,471,847)
Cash flows from investing activities:    
Purchases of short-term investments (4,871,863) (5,612,896)
Sales of short-term investments 4,641,308   
Purchases of property and equipment (2,200) (10,844)
Purchases of patent and trademark application costs (43,087) (29,284)
Net cash used in investing activities (275,842) (5,653,024)
Cash flows from financing activities:    
Net proceeds from sale of common stock 1,579,736   
Repayment of notes payable and other obligations (140,018) (361,265)
Net cash provided by (used in) financing activities 1,439,718 (361,265)
Net (decrease) increase in cash and cash equivalents (1,673,581) (8,486,136)
Cash and cash equivalents at beginning of period 5,658,683 10,977,974
Cash and cash equivalents at end of period 3,985,102 2,491,838
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest $ 26,894 $ 47,120