Quarterly report pursuant to Section 13 or 15(d)

Statements of Operations (Unaudited)

v3.8.0.1
Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Operating expenses:        
Research and development $ 996,477 $ 924,800 $ 2,724,349 $ 2,978,775
General and administrative 925,043 1,101,870 2,581,586 2,855,822
Total operating expenses 1,921,520 2,026,670 5,305,935 5,834,597
Loss from continuing operations (1,921,520) (2,026,670) (5,305,935) (5,834,597)
Other income (expense):        
Interest income 3,004 18,526 6,771 22,554
Interest expense (105,894) (1,291) (164,560) (2,947)
Change in value of derivative liability (42,918)   188,726  
Local business tax (588) (1,200) (2,988) (3,578)
Other income 686 5,062 7,194 5,435
Total other income (expense), net (145,710) 21,097 35,143 21,464
Loss from continuing operations before income taxes (2,067,230) (2,005,573) (5,270,792) (5,813,133)
Income tax benefit 0 0 0 0
Net loss from continuing operations $ (2,067,230) $ (2,005,573) $ (5,270,792) $ (5,813,133)
Basic and diluted net loss per share from continuing operations $ (0.04) $ (0.04) $ (0.11) $ (0.13)
Shares used to compute basic and diluted net loss per share 49,274,219 49,114,219 49,246,673 43,078,989
Discontinued operations        
Profit from operations of discontinued component   $ 42,566   $ 20,882
Gain on sale of discontinued operations       1,453,744
Income tax benefit $ 0 0 $ 0 0
Profit from discontinued operations   $ 42,566   $ 1,474,626
Basic and diluted net profit per share from discontinued operations       $ 0.03
Shares used to compute basic and diluted net loss per share from discontinued operations 49,274,219 49,114,219 49,246,673 43,078,989
Net loss $ (2,067,230) $ (1,963,007) $ (5,270,792) $ (4,338,507)
Basic and diluted net loss per share $ (0.04) $ (0.04) $ (0.11) $ (0.10)
Shares used to compute basic and diluted net loss per share 49,274,219 49,114,219 49,246,673 43,078,989