Financials

v3.2.0.727
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash $ 111,429 $ 707,011
Receivables   4,136
Prepaid expenses and other $ 44,056 10,596
Total current assets 155,485 721,743
Property and equipment, net 22,894 26,568
Total assets 178,379 748,311
Current liabilities:    
Accrued compensation 1,031,926 705,753
Accounts payable 302,101 $ 263,728
Notes payable 125,000  
Accrued liabilities $ 98,764 $ 42,507
Derivative liabilities   32,175
Total current liabilities $ 1,557,791 $ 1,044,163
Commitments and contingencies (Notes 2, 5, 8 and 9)    
Stockholders' deficit:    
Common stock, $0.0001 par value: 100,000,000 shares authorized; 30,826,549 and 30,477,460 shares outstanding as of June 30, 2015 and December 31, 2014, respectively $ 3,083 $ 3,048
Additional paid-in capital 27,419,343 26,933,171
Accumulated deficit (28,801,838) (27,232,071)
Total stockholders' deficit (1,379,412) (295,852)
Total liabilities and stockholders' deficit $ 178,379 $ 748,311
v3.2.0.727
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Condensed Consolidated Statements of Operations [Abstract]        
Grant revenues   $ 500,216   $ 500,216
License fees and other revenues   2,400   2,400
Total operating revenues   502,616   502,616
Cost of revenues   800   800
Gross profit   501,816   501,816
Operating expenses:        
General and administrative $ 541,371 468,871 $ 1,101,699 1,052,732
Research and development 261,024 782,939 488,181 1,267,083
Total operating expenses 802,395 1,251,810 1,589,880 2,319,815
Operating loss (802,395) (749,994) (1,589,880) (1,817,999)
Other income (expense):        
Gain on derivative liabilities 7,461 22,560 32,175 22,560
Interest expense (13,234) (8,304) (13,649) (110,722)
Other income, net 1,488 710 1,587 1,226
Total other income (expense) (4,285) 14,966 20,113 (86,936)
Loss before provision (benefit) for income taxes $ (806,680) $ (735,028) $ (1,569,767) $ (1,904,935)
Provision (benefit) for income taxes        
Net loss $ (806,680) $ (735,028) $ (1,569,767) $ (1,904,935)
Weighted average number of common shares outstanding - basic and diluted (in Shares) 30,826,549 29,182,858 30,756,656 27,468,910
Net loss per common share - basic and diluted (in Dollars per Share) $ (.03) $ (0.03) $ (.05) $ (0.07)
v3.2.0.727
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (1,569,767) $ (1,904,935)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 372,076 388,257
Gain on derivative liabilities (32,175) (22,560)
Depreciation and amortization $ 5,062 4,779
Original debt discount   63,333
Common stock issued for services   42,001
Decrease (increase) in:    
Receivables $ 4,136 (494,660)
Prepaid expenses and other (33,460) 6,366
Increase in:    
Accrued compensation 326,173 195,674
Accounts payable and accrued liabilities 94,630 969,695
Net cash used in operating activities (833,325) (752,050)
Cash flows from investing activities:    
Purchase of property and equipment (1,388) $ (5,615)
Cash flows from financing activities:    
Proceeds from issuance of notes payable 125,000  
Proceeds from exercise of common stock warrants 110,831  
Proceeds from exercise of common stock options $ 3,300  
Issuance of common stock for cash   $ 2,016,000
Net cash provided by financing activities $ 239,131 2,016,000
Net increase (decrease) in cash (595,582) 1,258,335
Cash as of beginning of the period 707,011 142,532
Cash as of end of the period 111,429 1,400,867
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 792 $ 429