Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 8,394,133 $ 167,001
Licensing fees receivable 907,500 0
Prepaid expenses and other current assets 122,395 26,443
Current portion of Refundable tax credit receivable 25,086 25,336
Total current assets 9,449,114 218,780
Property and equipment, net 0 1,257
Restricted cash 20,000 0
Other assets, including deferred offering costs 38,587 1,186,433
Total assets 9,507,701 1,406,470
Current liabilities:    
Grants payable 0 36,401
Accounts payable 417,697 565,947
Accrued expenses 1,095,738 913,063
Deferred revenue 1,907,500 0
Convertible notes due to stockholders, net (aggregate principal outstanding of $0 and $3,376,573, at December 31, 2015 and 2014, respectively 0 3,205,504
Warrant liability 0 303,102
Total current liabilities $ 3,420,935 $ 5,024,017
Commitments and contingencies (Note 12)
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Non-controlling interests $ 0 $ 6,780,588
Total convertible preferred stock and non-controlling interests 0 43,189,254
Stockholders’ equity (deficit):    
Preferred stock, $0.01 par value; 10,000,000 shares authorized, 0 issued and outstanding at December 31, 2015 0 0
Common stock, $0.01 par value: 100,000,000 shares authorized; 7,657,287 shares issued at December 31, 2015 and 201,787 shares issued at December 31, 2014 76,573 2,018
Additional paid-in capital 71,209,530 10,055,613
Accumulated deficit (65,255,301) (56,862,152)
Stockholders' notes receivable (58,824) (58,824)
Accumulated other comprehensive income 114,788 56,544
Total stockholders’ equity (deficit) 6,086,766 (46,806,801)
Total liabilities, convertible preferred stock, non-controlling interests and stockholders’ equity (deficit) 9,507,701 1,406,470
Series A Convertible Preferred Stock [Member]    
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Convertible preferred stock 0 254,525
Series B Convertible Preferred Stock [Member]    
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Convertible preferred stock 0 6,926,180
Series C Convertible Preferred Stock [Member]    
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Convertible preferred stock 0 5,745,127
Series D Convertible Preferred Stock [Member]    
Convertible preferred stock and non-controlling interests: (classified as temporary equity)    
Convertible preferred stock $ 0 $ 23,482,834