Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 11,764,923 $ 16,276,510
Accounts receivable, net 26,309 64,434
Inventory, net 263,860 288,383
Prepaid expenses and other current assets 221,637 175,242
Total current assets 12,276,729 16,804,569
Property and equipment, net 26,296 26,913
Total assets 12,303,025 16,831,482
Current liabilities:    
Accounts payable and accrued expenses 604,351 909,957
Short-term notes payable 109,564 64,051
Deferred revenue 25,592 18,839
Total current liabilities 739,507 992,847
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 September 30, 2014 and December 31, 2013, respectively; 36,178,944 and 35,993,944 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively 36,179 35,994
Additional paid-in capital 86,248,402 85,957,757
Accumulated deficit (74,721,063) (70,155,116)
Total shareholders' equity 11,563,518 15,838,635
Total liabilities and shareholders' equity $ 12,303,025 $ 16,831,482