Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v3.5.0.2
Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 5,116,631 $ 5,083,355
Prepaid expenses and other current assets 171,867 209,299
Current assets of discontinued operations   345,074
Total current assets 5,288,498 5,637,728
Property and equipment, net 107,104 140,651
Total assets 5,395,602 5,778,379
Current liabilities:    
Accounts payable and accrued expenses 786,179 831,029
Short-term notes payable 111,707 63,352
Current liabilities of discontinued operations 11,394 152,973
Total current liabilities 909,280 1,047,354
Shareholders' equity:    
Preferred stock, no par value; 20,000,000 shares authorized; none issued and outstanding
Common stock, $0.001 par value; 100,000,000 shares authorized 49,114,219 and 39,858,540 shares issued and outstanding at September 30, 2016 and December 31, 2015 49,114 39,859
Stock subscription receivable (1,015,334)  
Additional paid-in capital 97,447,017 92,347,134
Accumulated deficit (91,994,475) (87,655,968)
Total shareholders' equity 4,486,322 4,731,025
Total liabilities and shareholders' equity $ 5,395,602 $ 5,778,379