Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

v2.4.1.9
Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net loss $ (2,186,373)us-gaap_NetIncomeLoss $ (2,947,649)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation for services 433,402us-gaap_ShareBasedCompensation 403,021us-gaap_ShareBasedCompensation
Depreciation and amortization 64,021us-gaap_DepreciationDepletionAndAmortization 82,595us-gaap_DepreciationDepletionAndAmortization
Amortization of license fees (24,175)us-gaap_RecognitionOfDeferredRevenue (23,175)us-gaap_RecognitionOfDeferredRevenue
Change in:    
Accounts receivable 7,077us-gaap_IncreaseDecreaseInAccountsReceivable (38,042)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other current assets 89,690us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 73,547us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable (34,707)us-gaap_IncreaseDecreaseInAccountsPayable (85,522)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued compensation (565,862)us-gaap_IncreaseDecreaseInAccruedSalaries 115,179us-gaap_IncreaseDecreaseInAccruedSalaries
Accrued expenses (69,744)us-gaap_IncreaseDecreaseInAccruedLiabilities (485,996)us-gaap_IncreaseDecreaseInAccruedLiabilities
Deferred revenue    68,585us-gaap_IncreaseDecreaseInDeferredRevenue
Net cash used in operating activities (2,286,671)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (2,837,457)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Purchases of short-term investments (11,305,556)us-gaap_PaymentsToAcquireShortTermInvestments (4,871,863)us-gaap_PaymentsToAcquireShortTermInvestments
Sales of short-term investments 14,402,745us-gaap_ProceedsFromSaleOfShortTermInvestments 4,641,308us-gaap_ProceedsFromSaleOfShortTermInvestments
Purchases of property and equipment    (2,200)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Purchases of patent and trademark application costs (14,679)us-gaap_PaymentsToAcquireIntangibleAssets (43,087)us-gaap_PaymentsToAcquireIntangibleAssets
Net cash provided by (used in) investing activities 3,082,510us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (275,842)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Net proceeds from exercise of warrants    1,579,736us-gaap_ProceedsFromWarrantExercises
Repayment of notes payable and other obligations (133,715)us-gaap_RepaymentsOfNotesPayable (140,018)us-gaap_RepaymentsOfNotesPayable
Net cash (used in) provided by financing activities (133,715)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 1,439,718us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net change in cash and cash equivalents 662,124us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (1,673,581)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 3,539,911us-gaap_CashAndCashEquivalentsAtCarryingValue 5,658,683us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period 4,202,035us-gaap_CashAndCashEquivalentsAtCarryingValue 3,985,102us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest $ 25,286us-gaap_InterestPaid $ 26,894us-gaap_InterestPaid