Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.5.0.2
Condensed Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 6,012,237 $ 4,803,687
Investments 2,077,005 5,487,800
Prepaid expenses and other current assets 82,256 88,223
Total current assets 8,171,498 10,379,710
Property and equipment, net 225,313 199,575
Other assets 27,093 20,492
Total assets 8,423,904 10,599,777
Current liabilities:    
Accounts payable 424,064 209,730
Accrued liabilities 143,944 155,713
Accrued payroll and other compensation 237,667 217,250
Note payable, net of debt discount 205,152
Total current liabilities 1,010,827 582,693
Note payable, net of debt discount 205,005
Total liabilities 1,010,827 787,698
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value, Authorized 5,000,000 shares; No shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively
Common stock, $0.001 par value, Authorized 75,000,000 shares; Issued and outstanding 33,432,514 shares as of September 30, 2016 and 32,320,891 as of December 31, 2015 33,433 32,321
Additional paid-in capital 20,112,032 18,114,295
Accumulated deficit (12,732,388) (8,334,537)
Total stockholders' equity 7,413,077 9,812,079
Total liabilities and stockholders' equity $ 8,423,904 $ 10,599,777