Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

v3.5.0.2
Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 20,455,248 $ 25,643,273
Restricted cash - current 34,733 34,733
Prepaid expenses and other current assets 922,725 803,463
Total Current Assets 21,412,706 26,481,469
Property and equipment, net of accumulated depreciation 109,994 106,112
Security deposit 49,859
Total Assets 21,572,559 26,587,581
Current Liabilities:    
Accounts payable and accrued expenses 1,379,161 1,473,936
Accounts payable and accrued expenses - related parties 85,154 25,000
Notes payable 89,569 265,695
Derivative liabilities 934,586 2,848,902
Total Current Liabilities 2,488,470 4,613,533
Total Liabilities 2,488,470 4,613,533
Commitments and contingencies
Stockholders' Equity:    
Preferred stock, $0.001 par value; 50,000,000 authorized, 0 shares issued and outstanding
Common stock, $0.001 par value; 200,000,000 shares authorized; 47,293,224 and 44,066,541 shares issued and outstanding, respectively 47,294 44,067
Additional paid-in capital 142,294,257 134,160,059
Accumulated deficit (123,257,462) (112,230,078)
Total Stockholders' Equity 19,084,089 21,974,048
Total Liabilities and Stockholders' Equity $ 21,572,559 $ 26,587,581