Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 2,733,663 $ 3,027,962
Restricted cash 55,000 55,000
Prepaid expenses 157,406 171,601
Other accounts receivable 4,040  
Total current assets 2,950,109 3,254,563
Furniture and equipment, net 14,435 55,119
Intangible assets, net 561,354 640,440
Other assets 108,723 194,250
Total assets 3,634,621 4,144,372
Current liabilities    
Accounts payable 380,399 254,320
Accrued expenses 50,542 16,964
Payroll liabilities 627,587 769,899
Other current liabilities 13,295 6,083
Total current liabilities 1,071,823 1,047,266
Commitments and contingencies (note 13)
Stockholders' equity    
Preferred stock - $.001 par value; 10,000,000 shares authorized, no shares issued or outstanding
Common stock - $.015 par value; 75,000,000 shares authorized, 14,022,741 and 3,786,913 shares issued and outstanding, as of September 30, 2017 and December 31, 2016, respectively 210,341 56,804
Additional paid-in capital 65,785,758 60,344,050
Accumulated deficit (63,433,301) (57,303,748)
Total stockholders' equity 2,562,798 3,097,106
Total liabilities and stockholders' equity $ 3,634,621 $ 4,144,372