Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 3,690,023 $ 3,027,962
Restricted cash 55,000 55,000
Prepaid expenses 228,370 171,601
Other accounts receivable 2,736  
Total current assets 3,976,129 3,254,563
Furniture and equipment, net 18,989 55,119
Intangible assets, net 585,683 640,440
Other assets 128,577 194,250
Total assets 4,709,378 4,144,372
Current liabilities    
Accounts payable 495,811 254,320
Accrued expenses 44,017 16,964
Payroll liabilities 482,420 769,899
Common stock warrant liability 864,371  
Other current liabilities 19,157 6,083
Total current liabilities 1,905,776 1,047,266
Commitments and contingencies (note 13)  
Stockholders' equity    
Preferred stock
Additional paid in capital- Series A convertible preferred stock 744,977  
Common stock - $.015 par value; 75,000,000 shares authorized, 10,032,410 and 3,786,913 shares issued and outstanding, as of June 30, 2017 and December 31, 2016, respectively 150,486 56,804
Additional paid-in capital 63,126,929 60,344,050
Accumulated deficit (61,248,791) (57,303,748)
Total stockholders' equity 2,803,602 3,097,106
Total liabilities and stockholders' equity 4,709,378 4,144,372
Series A Convertible Preferred Stock Convertible [Member]    
Stockholders' equity    
Preferred stock $ 1