Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v2.4.0.8
Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 16,276,510 $ 9,925,967
Restricted cash 0 61,763
Accounts receivables, net 64,434 69,795
Inventory, net 288,383 124,178
Prepaid expenses and other current assets 175,242 221,838
Total current assets 16,804,569 10,403,541
Property and equipment, net 26,913 84,591
Total assets 16,831,482 10,488,132
Current liabilities:    
Accounts payable and accrued expenses 909,957 1,157,520
Short-term notes payable 64,051 47,977
Deferred revenue 18,839 50,989
Total current liabilities 992,847 1,256,486
Shareholders' equity:    
Preferred stock, no par value; 20,000,000 shares authorized; none issued and outstanding      
Common stock, $0.001 par value; 50,000,000 shares authorized; 35,993,944 and 27,382,830 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively 35,994 27,383
Additional paid-in capital 85,957,757 63,290,625
Accumulated deficit (70,155,116) (54,086,362)
Total shareholders' equity 15,838,635 9,231,646
Total liabilities and shareholders' equity $ 16,831,482 $ 10,488,132