Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net loss $ (276,364) $ (4,219,608)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation for services 224,272 780,983
Depreciation and amortization 46,031 129,794
Amortization of license fees (48,350) (48,349)
Other non-cash charges 168,077 4,647
Gain on sale of property and equipment (1,920,273)
Change in:    
Accounts receivable 0 (30,260)
Prepaid expenses and other current assets 193,930 232,018
Accounts payable (506,465) (143,793)
Accrued compensation (436,465) (547,607)
Accrued expenses 9,531 17,161
Net cash (used in) operating activities (2,546,076) (3,825,014)
Cash flows from investing activities:    
Purchases of short-term investments (10,149,937) (16,216,718)
Sales of short-term investments 13,612,516 21,652,610
Proceeds from sale of property and equipment 1,749,484
Purchases of patent and trademark application costs (14,378) (47,022)
Net cash provided by investing activities 5,197,685 5,388,870
Cash flows from financing activities:    
Repayment of notes payable and other obligations (174,083) (235,935)
Net cash (used in) financing activities (174,083) (235,935)
Net change in cash and cash equivalents 2,477,526 1,327,921
Cash and cash equivalents at beginning of period 2,012,283 3,539,911
Cash and cash equivalents at end of period 4,489,809 4,867,832
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 31,362 $ 49,740
Supplemental disclosure of investing information:    
Liability payoffs upon property sale $ 2,064,758