Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 12,898,573 $ 16,276,510
Accounts receivable, net 22,825 64,434
Inventory, net 238,975 288,383
Prepaid expenses and other current assets 144,569 175,242
Total current assets 13,304,942 16,804,569
Property and equipment, net 31,876 26,913
Total assets 13,336,818 16,831,482
Current liabilities:    
Accounts payable and accrued expenses 703,214 909,957
Short-term notes payable 35,775 64,051
Deferred revenue 38,876 18,839
Total current liabilities 777,865 992,847
Shareholders' equity:    
Preferred stock, no par value; 20,000,000 shares authorized; none issued and outstanding 0  
Common stock, $0.001 par value; 100,000,000 and 50,000,000 shares authorized as of June 30, 2014 and December 31, 2013, respectively; 36,178,944 and 35,993,944 shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively 36,179 35,994
Additional paid-in capital 86,214,293 85,957,757
Accumulated deficit (73,691,519) (70,155,116)
Total shareholders' equity 12,558,953 15,838,635
Total liabilities and shareholders' equity $ 13,336,818 $ 16,831,482