Annual report pursuant to Section 13 and 15(d)

Unaudited Quarterly Financial Information

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Unaudited Quarterly Financial Information
12 Months Ended
Dec. 31, 2012
Unaudited Quarterly Financial Information [Abstract]  
Unaudited Quarterly Financial Information

15. Unaudited Quarterly Financial Information

The quarterly interim financial information shown below has been prepared by the Company’s management and is unaudited. It should be read in conjunction with the audited financial statements appearing herein.

 

                                 
    2012  
    First     Second     Third     Fourth  

Revenue

  $ 380,527     $ 256,407     $ 264,248     $ 430,582  
         

Total operating expenses

    1,661,192       7,012,848       2,196,762       2,014,801  

Net loss

    (1,616,908     (6,928,771     (2,555,941     (1,988,826
         

Loss per share:

                               

Basic and Diluted

  $ (0.25   $ (0.52   $ (0.11   $ (0.07

 

                                 
    2011  
    First     Second     Third     Fourth  

Revenue

  $ 349,937     $ 347,569     $ 350,351     $ 396,590  
         

Total operating expenses

    1,770,347       2,323,126       1,927,049       2,056,661  

Net loss

    (1,559,013     (2,373,243     (1,807,290     (1,939,322
         

Loss per share:

                               

Basic and Diluted

  $ (0.28   $ (0.42   $ (0.32   $ (0.33