Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and Cash Equivalents $ 5,437,671 $ 3,635,224
Grant Fees Receivable 109,835 37,349
Prepaid Expenses and Other Current Assets 863,457 464,981
Current Portion of Refundable Tax Credit Receivable 18,113 16,484
Total Current Assets 6,429,076 4,154,038
Property and Equipment, Net 33,504 38,040
Restricted Cash 45,000 45,000
Goodwill and In-Process R&D 5,438,210 5,438,210
Other Assets 55,521 55,314
Total Assets 12,001,311 9,730,602
Current Liabilities:    
Accounts Payable 1,310,990 1,412,128
Accrued Expenses 862,853 1,670,930
Deferred Revenue 8,225,000 4,225,000
Total Current Liabilities 10,398,843 7,308,058
Non-Current Liabilities:    
Contingent Consideration 1,210,000 1,210,000
Deferred Tax Liability 1,525,896 1,525,896
Long-Term Portion of Capital Lease Obligation 12,907 16,069
Total Non-Current Liabilities 2,748,803 2,751,965
Total Liabilities 13,147,646 10,060,023
Commitments and Contingencies (Note 9)
Stockholders' Deficit:    
Preferred Stock, $0.01 Par Value: 9,997,223 and 9,997,223 Shares Authorized at March 31, 2017 and December 31, 2016, respectively; 0 Shares Issued and Outstanding at March 31, 2017 and December 31, 2016 0 0
Common stock, $0.01 par value: 100,000,000 Shares Authorized; 10,878,116 and 10,130,883 Shares Issued and Outstanding at March 31, 2017 and December 31, 2016 108,781 101,309
Additional Paid-In Capital 80,201,848 78,106,645
Accumulated Deficit (81,518,392) (78,598,738)
Stockholder Note Receivable (58,824) (58,824)
Accumulated Other Comprehensive Income 120,252 120,187
Total Stockholders’ Deficit (1,146,335) (329,421)
Total Liabilities and Stockholders’ Deficit $ 12,001,311 $ 9,730,602