Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.4.0.3
Condensed Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 4,343,910 $ 4,803,687
Investments 4,754,318 5,487,800
Prepaid expenses and other current assets 123,713 88,223
Total current assets 9,221,941 10,379,710
Property and equipment, net 195,724 199,575
Other assets 22,644 20,492
Total assets 9,440,309 10,599,777
Current liabilities:    
Accounts payable 300,705 209,730
Accrued liabilities 82,696 155,713
Accrued payroll and other compensation 123,178 $ 217,250
Note payable, net of debt discount of $206 and $0 as of March 31, 2016 and December 31, 2015, respectively 102,424
Total current liabilities 609,003 $ 582,693
Note payable, net of debt discount of $0 and $255 as of March 31, 2016 and December 31, 2015, respectively 102,630 205,005
Total liabilities $ 711,633 $ 787,698
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value, Authorized - 5,000,000 shares; No shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively
Common stock, $0.001 par value, Authorized 75,000,000 shares; Issued and outstanding 32,337,541 shares as of March 31, 2016 and 32,320,891 as of December 31, 2015 $ 32,338 $ 32,321
Additional paid-in capital 18,247,175 18,114,295
Accumulated deficit (9,550,837) (8,334,537)
Total stockholders' equity 8,728,676 9,812,079
Total liabilities and stockholders' equity $ 9,440,309 $ 10,599,777