XML 35 R24.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Taxes [Abstract]  
Schedule of income tax benefit

  2015  2014 
Federal $-  $- 
State  (488,933)  (616,872)
Income tax benefit $(488,933) $(616,872)
Schedule of deferred tax asset

  2015  2014 
Net operating loss carry forwards $31,216,000  $29,594,000 
Orphan drug and research and development credit carry forwards  4,909,000   3,556,000 
Equity based compensation  1,923,000   2,049,000 
Intangibles  2,090,000   2,140,000 
Total  40,138,000   37,339,000 
Valuation allowance  (40,138,000)  (37,339,000)
Net deferred tax assets $-  $- 
Schedule of reconciliation of income tax rate

  2015  2014 
Income tax loss at federal statutory rate  (34.00)%  (34.00)%
State tax benefits, plus sale of NJ NOLs, net of federal benefit  (6.00)  (6.00)
Subtotal  (40.00)  (40.00)
Valuation allowance  34.12   31.58 
Income tax benefit  (5.88)%  (8.42)%