Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets (Note 1):    
Cash and cash equivalents $ 11,933,573 $ 5,529,848
Short-term investments 7,506,761
Prepaid expenses and other current assets 51,741 219,991
Current assets of discontinued operations (Note 2) 1,076 486,890
Total current assets 11,986,390 13,743,490
Property and equipment, net (Note 3) 4,587 5,538
Other long term assets, net (Note 4) 915,687 938,038
Noncurrent assets of discontinued operations (Note 2) 2,353,749
Total assets 12,906,664 17,040,815
Current liabilities:    
Accounts payable 239,403 253,817
Accrued compensation 6,726 1,520
Accrued expenses 242,631 304,675
Notes and other obligations, current portion (Note 5) 139,611
Deferred revenue, current portion (Note 8) 96,698 96,698
Current liabilities of discontinued operations (Note 2) 264,082 258,819
Total current liabilities 849,540 1,055,140
Private placement notes held in escrow - representing 2% Convertible Notes Payable amounting to $4,750,000 and 1,900,000 warrants, all net of $4,750,000 of proceeds held in escrow (Note 6)
Accrued interest (Note 6) 27,589
Deferred revenue, less current portion (Note 8) 1,016,967 1,065,316
Total liabilities 1,894,096 2,120,456
Commitments and contingencies (Notes 6, 8 and 9)  
Stockholders' equity (Notes 6 and 7):    
Common stock, no par value, 60,000,000 shares authorized; shares issued and outstanding 5,392,503 (2017) and 4,503,971 (2016) 126,533,391 124,775,635
Accumulated deficit (115,520,823) (109,855,276)
Total stockholders' equity 11,012,568 14,920,359
Total liabilities and stockholders' equity $ 12,906,664 $ 17,040,815