Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and Cash Equivalents $ 8,026,419 $ 8,394,133
License Fee Receivable 45,984 907,500
Prepaid Expenses and Other Current Assets 676,725 122,395
Refundable Tax Credit Receivable 27,178 25,086
Total Current Assets 8,776,306 9,449,114
Property and Equipment, Net 404 0
Restricted Cash 45,000 20,000
In-Process Research and Development 3,912,314 0
Other Assets 49,244 38,587
Total Non-Current Assets 4,006,962 58,587
Total Assets 12,783,268 9,507,701
Current Liabilities:    
Accounts Payable 1,229,925 417,697
Accrued Expenses 1,311,715 1,095,738
Deferred Revenue 2,563,323 1,907,500
Total Current Liabilities 5,104,963 3,420,935
Non-Current Liabilities:    
Contingent Consideration 1,210,000 0
Total Liabilities 6,314,963 3,420,935
Stockholders’ Equity:    
Common Stock, $0.01 par value: 100,000,000 shares authorized; 8,951,883 shares issued and outstanding at June 30, 2016, and 7,657,287 shares issued and outstanding at December 31, 2015 89,519 76,573
Preferred Stock, $0.01 par value, 10,000,000 shares authorized, 3,750 designated Series A, 2,652.75 shares issued and outstanding at June 30, 2016, and 0 shares issued and outstanding at December 31, 2015 27 0
Common Stock Issuable 205,207 0
Additional Paid-In Capital 77,639,662 71,209,530
Accumulated Deficit (71,521,015) (65,255,301)
Stockholder Note Receivable (58,824) (58,824)
Accumulated Other Comprehensive Income 113,729 114,788
Total Stockholders’ Equity 6,468,305 6,086,766
Total Liabilities and Stockholders’ Equity $ 12,783,268 $ 9,507,701