v3.8.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 3,866,259 $ 5,533,062
Restricted cash 66,510 66,510
Prepaid expenses and other 343,441 285,005
Total current assets 4,276,210 5,884,577
Property and equipment, net 22,123 27,846
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 718,165 724,713
Total assets 17,543,005 19,163,643
Current liabilities:    
Accounts payable 896,429 786,779
Accrued expenses 826,552 1,135,653
Other current liabilities 16,371 21,234
Total current liabilities 1,739,352 1,943,666
Deferred tax liability 2,918,518 2,918,518
Total liabilities 4,657,870 4,862,184
Commitments and contingent liabilities (Note 9)
Stockholders' equity:    
Common stock, $0.001 par value; 45,454,546 shares authorized as of March 31, 2018 and December 31, 2017; 9,041,426 and 9,041,426 shares issued as of March 31, 2018 and December 31, 2017, respectively; 8,717,541 and 8,717,541 shares outstanding as of March 31, 2018 and December 31, 2017, respectively 9,040 9,040
Additional paid in capital 165,656,106 165,249,912
Accumulated deficit (147,755,655) (145,933,137)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 12,885,135 14,301,459
Total liabilities and stockholders' equity 17,543,005 19,163,643
Series A [Member]    
Stockholders' equity:    
Preferred Stock, 10,000,000 shares authorized; Series B, $0.001 par value: 2,120,742 and 2,120,742 issued and outstanding as of March 31, 2018 and December 31, 2017, respectively; Series A, $0.001 par value: 970,000 shares issued and outstanding as of March 31, 2018 and December 31, 2017 970 970
Series B [Member]    
Stockholders' equity:    
Preferred Stock, 10,000,000 shares authorized; Series B, $0.001 par value: 2,120,742 and 2,120,742 issued and outstanding as of March 31, 2018 and December 31, 2017, respectively; Series A, $0.001 par value: 970,000 shares issued and outstanding as of March 31, 2018 and December 31, 2017 $ 2,120 $ 2,120

Source

v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating costs and expenses:    
Research and development $ (706,271) $ (1,221,144)
General and administrative (1,122,072) (1,634,533)
Loss from operations (1,828,343) (2,855,677)
Other income (expense):    
Other income (expense) 5,398 (9,356)
Interest income (expense) 427 (588)
Total other income (expense) 5,825 (9,944)
Net loss $ (1,822,518) $ (2,865,621)
Basic and diluted loss per share $ (0.21) $ (0.34)
Weighted-average shares of common stock outstanding, basic and diluted 8,717,541 8,518,830

Source

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (1,822,518) $ (2,865,621)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation 5,723 7,712
Share-based payments 383,850 650,275
Warrant expense for services 4,917 (15,346)
Vendor share-based payments 17,427 31,068
Changes in operating assets and liabilities:    
Accounts receivable 0 3,000,000
Prepaid expenses and other assets (51,888) (584,556)
Accounts payable, accrued expenses and other liabilities (204,314) 57,277
Net cash (used in) provided by operating activities (1,666,803) 280,809
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment 0 (5,429)
Net cash used in investing activities 0 (5,429)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net cash provided by financing activities 0 0
Net change in cash (1,666,803) 275,380
Cash and restricted cash at beginning of period 5,599,572 4,048,131
Cash and restricted cash at end of period 3,932,769 4,323,511
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 671 599
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Conversion of Series B preferred stock to common stock 0 120
Reclassification of common shares issuable to accounts payable 0 65,977
Issuance of common stock for promissory note converted in 2016 $ 0 $ 125

Source