Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and Cash Equivalents $ 7,806,029 $ 3,635,224
License and Grant Fees Receivable 0 37,349
Prepaid Expenses and Other Current Assets 629,591 464,981
Current Portion of Refundable Tax Credit Receivable 23,685 16,484
Total Current Assets 8,459,305 4,154,038
Property and Equipment, Net 55,751 38,040
Restricted Cash 45,000 45,000
Goodwill and In-Process R&D 5,438,210 5,438,210
Non-Current Assets:    
Other Assets 307,126 55,314
Total Assets 14,305,392 9,730,602
Current Liabilities:    
Accounts Payable 706,089 1,412,128
Accrued Expenses 1,813,847 1,670,930
Deferred Revenue 12,313,600 4,225,000
Total Current Liabilities 14,833,536 7,308,058
Non-Current Liabilities:    
Contingent Consideration 1,210,000 1,210,000
Deferred Tax Liability 183,923 1,525,896
Long-Term Portion of Capital Lease Obligation 4,855 16,069
Total Non-Current Liabilities 1,398,778 2,751,965
Total Liabilities 16,232,314 10,060,023
Commitments and Contingencies (Note 11)
Stockholders’ Deficit:    
Preferred Stock, $0.01 Par Value: 9,995,828 shares authorized; 3,750 designated Series A, 0 shares issued and outstanding at December 31, 2017 and December 31, 2016; 10,000 designated Series B, 600 and 0 issued and outstanding at December 31, 2017 and December 31, 2016, respectively 6 0
Common Stock, $0.01 Par Value: 100,000,000 shares authorized; 17,257,255 shares issued and outstanding at December 31, 2017 and 10,130,883 shares issued and outstanding at December 31, 2016 172,573 101,309
Additional Paid-In Capital 89,589,681 78,106,645
Accumulated Deficit (91,816,655) (78,598,738)
Stockholders’ Notes Receivable 0 (58,824)
Accumulated Other Comprehensive Income 127,473 120,187
Total Stockholders’ Deficit (1,926,922) (329,421)
Total Liabilities and Stockholders’ Deficit $ 14,305,392 $ 9,730,602