Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 5,529,848 $ 2,012,283
Short-term investments (Note 1) 7,506,761 14,147,991
Accounts receivable 4,539
Inventories (Note 2) 415,847
Prepaid expenses and other current assets 286,495 251,778
Total current assets 13,743,490 16,412,052
Property and equipment, net (Note 3) 41,133 1,954,496
Intangible rights acquired (Note 2) 1,851,736
Long-term investments (Note 1) 972,000
Other long term assets, net (Note 4) 1,404,456 1,523,649
Total assets 17,040,815 20,862,197
Current liabilities:    
Accounts payable 428,204 701,064
Accrued compensation 55,866 449,873
Accrued expenses 334,761 241,882
Notes and other obligations, current portion (Note 5) 139,611 301,250
Deferred revenue, current portion (Note 8) 96,698 96,698
Total current liabilities 1,055,140 1,790,767
Notes and other obligations, less current portion (Note 5) 1,838,779
Deferred revenue, less current portion (Note 8) 1,065,316 1,162,015
Total liabilities 2,120,456 4,791,561
Commitments and contingencies (Notes 8 and 10)
Stockholders' equity (Notes 6, 7 and 11):    
Common stock, no par value, 60,000,000 shares authorized; 4,503,971 (2016) and 3,876,961 (2015) shares issued and outstanding 124,775,635 121,653,075
Accumulated deficit (109,855,276) (105,582,439)
Total equity 14,920,359 16,070,636
Total liabilities and stockholders' equity $ 17,040,815 $ 20,862,197