Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.5.0.2
Condensed Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 5,630,034 $ 4,803,687
Investments 3,422,737 5,487,800
Prepaid expenses and other current assets 137,501 88,223
Total current assets 9,190,272 10,379,710
Property and equipment, net 209,976 199,575
Other assets 27,093 20,492
Total assets 9,427,341 10,599,777
Current liabilities:    
Accounts payable 252,861 209,730
Accrued liabilities 126,711 155,713
Accrued payroll and other compensation 230,186 217,250
Note payable, net of debt discount 102,473
Total current liabilities 712,231 582,693
Note payable, net of debt discount 102,630 205,005
Total liabilities 814,861 787,698
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value, Authorized 5,000,000 shares; No shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively
Common stock, $0.001 par value, Authorized 75,000,000 shares; Issued and outstanding 33,157,944 shares as of June 30, 2016 and 32,320,891 as of December 31, 2015 33,158 32,321
Additional paid-in capital 19,657,981 18,114,295
Accumulated deficit (11,078,659) (8,334,537)
Total stockholders' equity 8,612,480 9,812,079
Total liabilities and stockholders' equity $ 9,427,341 $ 10,599,777