Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v3.7.0.1
Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 2,175,172 $ 4,080,618
Prepaid expenses and other current assets 106,307 141,086
Total current assets 2,281,479 4,221,704
Property and equipment, net 69,427 87,462
Total assets 2,350,906 4,309,166
Current liabilities:    
Accounts payable and accrued expenses 1,102,450 1,277,066
Short-term notes payable 62,848 66,377
Total current liabilities 1,165,298 1,343,443
Shareholders' equity:    
Preferred stock, no par value; 20,000,000 shares authorized; none issued and outstanding 0 0
Common stock, $0.001 par value; 250,000,000 shares authorized 49,274,219 and 49,114,219 shares issued and outstanding at March 31, 2017 and December 31, 2016 49,274 49,114
Stock subscription receivable 0 (30,563)
Additional paid-in capital 97,788,302 97,616,444
Accumulated deficit (96,651,968) (94,669,272)
Total shareholders' equity 1,185,608 2,965,723
Total liabilities and shareholders' equity $ 2,350,906 $ 4,309,166