Annual report pursuant to Section 13 and 15(d)

Unaudited Quarterly Financial Information (Tables)

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Unaudited Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Summary of the Company's Unaudited Quarterly Results of Operations

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.

 

     2013  
     First     Second     Third     Fourth  

Revenue

    $ 176,407      $ 167,668      $ 253,374      $ 434,784   

Total operating expenses

      1,848,582        2,156,279        9,465,455        3,428,793   

Net loss

      (1,589,960 )      (2,074,035 )      (9,325,424 )      (3,079,335 ) 

Loss per share:

         

Basic and Diluted

    $ (0.06 )    $ (0.08 )    $ (0.34 )    $ (0.09 ) 

 

     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 )