Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.7.0.1
Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash $ 3,257,458 $ 4,803,687
Investments 5,428,962 5,487,800
Subscription receivable 522,326
Prepaid expenses and other current assets 110,822 88,223
Total current assets 9,319,568 10,379,710
Property and equipment, net 230,512 199,575
Other assets 36,810 20,492
Total assets 9,586,890 10,599,777
Current liabilities:    
Accounts payable 103,294 209,730
Accrued liabilities 132,780 155,713
Accrued payroll and other compensation 447,641 217,250
Note payable, net of debt discount of $59 and $0 as of December 31, 2016 and 2015, respectively 205,201
Total current liabilities 888,916 582,693
Note payable, net of debt discount of $0 and $255 as of December 31, 2016 and 2015, respectively 205,005
Total liabilities 888,916 787,698
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.001 par value, Authorized 5,000,000 shares;No shares issued and outstanding as of December 31, 2016 and December 31, 2015, respectively
Common stock, $0.001 par value, Authorized 75,000,000 shares; Issued and outstanding 34,807,881 shares as of December 31, 2016 and 32,320,891 as of December 31, 2015 34,808 32,321
Additional paid-in capital 23,072,702 18,114,295
Accumulated deficit (14,409,536) (8,334,537)
Total stockholders' equity 8,697,974 9,812,079
Total liabilities and stockholders' equity $ 9,586,890 $ 10,599,777