Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.8.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash $ 694,752 $ 4,048,131
Restricted cash 66,510 66,510
Accounts receivable 42,500 3,000,000
Prepaid expenses and other 1,245,252 1,224,009
Total current assets 2,049,014 8,338,650
Property and equipment, net 32,293 42,366
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 31,831 66,342
Total assets 14,639,645 20,973,865
Current liabilities:    
Accounts payable 1,026,728 1,006,903
Accrued expenses 1,113,446 838,888
Deferred revenue and other current liabilities 21,071 20,205
Total current liabilities 2,161,245 1,865,996
Deferred tax liability 2,918,518 2,918,518
Other liabilities 4,980 19,876
Total liabilities 5,084,743 4,804,390
Commitments and contingent liabilities (Note 10)
Stockholders' equity:    
Common stock, $0.001 par value; 45,454,546 shares authorized as of September 30, 2017 and December 31, 2016; 9,041,426 and 8,731,029 shares issued as of September 30, 2017 and December 31, 2016, respectively; 8,717,541 and 8,407,144 shares outstanding as of September 30, 2017 and December 31, 2016, respectively 9,040 8,730
Additional paid in capital 164,948,674 163,522,921
Accumulated deficit (150,378,456) (142,338,005)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 9,554,902 16,169,475
Total liabilities and stockholders' equity 14,639,645 20,973,865
Series A [Member]    
Stockholders' equity:    
Preferred Stock 970 970
Series B [Member]    
Stockholders' equity:    
Preferred Stock $ 2,120 $ 2,305