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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (1,697,665) $ (2,311,843)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 43,941 12,218
Stock-based compensation 125,930 329,067
Change in assets and liabilities:    
Royalty receivables (552,064) (175,015)
Prepaid expenses and other current assets 26,596 71,476
Deferred revenue 22,722 (2,500)
Accounts payable and accrued expenses and other (116,590) 167,873
Net cash used in operating activities (2,147,130) (1,908,724)
Cash flows from investing activities:    
Purchases of fixed assets (310,796) (44,520)
Change in investments (7,315) (2,545)
Net cash used in investing activities $ (318,111) (47,065)
Cash flows from financing activities:    
Net proceeds from sale of common stock   3,278,250
Net proceeds from exercise of options and warrants $ 490,623 304,788
Net cash provided by financing activities 490,623 3,583,038
Net (decrease) increase in cash and cash equivalents (1,974,618) 1,627,249
Cash and cash equivalents at beginning of year 7,569,537 5,866,123
Cash and cash equivalents at end of period $ 5,594,919 $ 7,493,372