Quarterly report pursuant to Section 13 or 15(d)

Statements of Operations (Unaudited)

v3.5.0.2
Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Revenue, net $ 0 $ 0 $ 0 $ 0
Cost of revenue 0 0 0 0
Gross profit 0 0 0 0
Operating expenses:        
Research and development 924,800 1,104,023 2,978,775 7,392,539
General and administrative 1,101,870 761,911 2,855,822 2,192,474
Total operating expenses 2,026,670 1,865,934 5,834,597 9,585,013
Loss from continuing operations (2,026,670) (1,865,934) (5,834,597) (9,585,013)
Other income (expense):        
Interest income 18,526 5,024 22,554 17,395
Interest expense (1,291) (39,564) (2,947) (50,201)
Local business tax (1,200) (900) (3,578) (3,800)
Other income 5,062 1,280 5,435 776
Total other income (expense), net 21,097 (34,160) 21,464 (35,830)
Loss from continuing operations before income taxes (2,005,573) (1,900,094) (5,813,133) (9,620,843)
Income tax benefit 0 0 0 0
Net loss from continuing operations $ (2,005,573) $ (1,900,094) $ (5,813,133) $ (9,620,843)
Basic and diluted net loss per share from continuing operations $ (0.04) $ (0.05) $ (0.13) $ (0.26)
Shares used to compute basic and diluted net loss per share 49,114,219 36,441,783 43,078,989 36,344,945
Discontinued operations        
Profit from operations of discontinued component $ 42,566 $ 36,418 $ 20,882 $ 128,919
Gain on sale of discontinued operations     1,453,744  
Income tax benefit 0 0 0 0
Profit from discontinued operations $ 42,566 $ 36,418 $ 1,474,626 $ 128,919
Basic and diluted net profit per share from discontinued operations $ 0.00 $ 0.00 $ 0.03 $ 0.00
Shares used to compute basic and diluted net loss per share 49,114,219 36,441,783 43,078,989 36,344,945
Net loss $ (1,963,007) $ (1,863,676) $ (4,338,507) $ (9,491,924)
Basic and diluted net loss per share $ (0.04) $ (0.05) $ (0.10) $ (0.26)
Shares used to compute basic and diluted net loss per share 49,114,219 36,441,783 43,078,989 36,344,945