Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
Series A Convertible Preferred Stock [Member]
Additional Paid-in Capital [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Accumulated Deficit [Member]
Total
Balance, beginning at Dec. 31, 2015     $ 32,657 $ 54,643,940 $ (50,934,863) $ 3,741,734
Balance, beginning (in shares) at Dec. 31, 2015     2,177,151      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common shares (net of issuance costs of $356,214)     $ 23,417 4,672,452   4,695,869
Issuance of common shares (net of issuance costs of $356,214) (in shares)     1,561,080      
Issuance of common shares as commitment fees     $ 746 197,777   198,523
Issuance of common shares as commitment fees (in shares)     49,736      
Amortization of commitment shares       (42,864)   (42,864)
Settlement of fractional shares     $ (1,054) (3,444)   (3,460)
Settlement of fractional shares (in shares)     (16)      
Compensation cost for stock options granted to executives and employees       876,189   876,189
Net loss         (6,368,885) (6,368,885)
Balance, ending at Dec. 31, 2016     $ 56,804 60,344,050 (57,303,748) $ 3,097,106
Balance, ending (in shares) at Dec. 31, 2016     3,786,913     3,786,913
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock and warrants net of issuance costs of $768,412     $ 267,001 5,895,587   $ 6,162,588
Issuance of common stock and warrants net of issuance costs of $768,412 (in shares)     17,800,000      
Issuance of common stock in Class A units, net of issuance costs of $65,816     $ 17,910 811,774   829,684
Issuance of common stock in Class A units, net of issuance costs of $65,816 (in shares)     1,194,000      
Allocation of Class A unit proceeds to warrant liability       (328,350)   (328,350)
Issuance of Series A convertible preferred stock in Class B units, net of issuance costs of $267,231 $ 4 $ 3,234,769       3,234,773
Issuance of Series A convertible preferred stock in Class B units, net of issuance costs of $267,231 (in shares) 3,502          
Allocation of Series A convertible preferred stock to warrants and beneficial conversion feature   (2,568,132)   1,284,066   (1,284,066)
Deemed dividend on Series A convertible preferred stock   2,568,132   (2,568,132)    
Conversion of Series A convertible preferred stock to common stock $ (4) $ (3,234,769) $ 70,040 3,164,733    
Conversion of Series A convertible preferred stock to common stock (in shares) (3,502)   4,669,329      
Reclassification of warrant liability upon exercise of common stock warrants     $ 22,362 1,870,798   1,893,160
Reclassification of warrant liability upon exercise of common stock warrants (in shares)     1,490,833      
Issuance of common stock upon warrant exercise for cash on liability warrant exercise     $ 43,225 706,008   749,233
Issuance of common stock upon warrant exercise for cash on liability warrant exercise (in shares)     2,881,666      
Amortization of commitment shares       (79,410)   (79,410)
Compensation cost for stock options granted to executives and employees       786,550   786,550
Net loss         (8,122,581) (8,122,581)
Balance, ending at Dec. 31, 2017     $ 477,342 $ 71,887,674 $ (65,426,329) $ 6,938,687
Balance, ending (in shares) at Dec. 31, 2017     31,822,741     31,822,741