Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and Cash Equivalents $ 3,648,308 $ 7,806,029
Unbilled Revenue 922,488 0
Prepaid Expenses and Other Current Assets 731,649 629,591
Current Portion of Refundable Tax Credit Receivable 25,886 23,685
Total Current Assets 5,328,331 8,459,305
Property and Equipment, Net 47,785 55,751
Restricted Cash 45,000 45,000
Goodwill and In-Process R&D 5,438,210 5,438,210
Other Assets 307,126 307,126
Total Assets 11,166,452 14,305,392
Current Liabilities:    
Accounts Payable 221,880 706,089
Accrued Expenses 1,409,348 1,813,847
Deferred Revenue 2,860,000 12,313,600
Total Current Liabilities 4,491,228 14,833,536
Non-Current Liabilities:    
Contingent Consideration 1,210,000 1,210,000
Deferred Tax Liability 183,923 183,923
Long-Term Portion of Capital Lease Obligation 3,283 4,855
Total Non-Current Liabilities 1,397,206 1,398,778
Total Liabilities 5,888,434 16,232,314
Commitments and Contingencies (Note 9)
Stockholders’ Equity (Deficit):    
Preferred Stock, $0.01 Par Value: 9,995,828 shares authorized; 3,750 designated Series A, 0 shares issued and outstanding at March 31, 2018 and December 31, 2017; 10,000 designated Series B, 600 shares issued and outstanding at March 31, 2018 and December 31, 2017; 10,000 shares designated Series C, 0 shares issued and outstanding at March 31, 2018 and December 31, 2017 6 6
Common Stock, $0.01 Par Value: 100,000,000 shares authorized; 17,257,255 shares issued and outstanding at March 31, 2018 and December 31, 2017 172,573 172,573
Additional Paid-In Capital 89,694,834 89,589,681
Accumulated Deficit (84,718,102) (91,816,655)
Accumulated Other Comprehensive Income 128,707 127,473
Total Stockholders’ Equity (Deficit) 5,278,018 (1,926,922)
Total Liabilities and Stockholders’ Equity (Deficit) $ 11,166,452 $ 14,305,392