Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v2.4.0.8
Condensed Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 9,730,268 $ 14,137,097
Accounts receivable, net 399,769 252,406
Inventories, net 343,911 519,657
Prepayments and other current assets 106,699 231,495
Total current assets 10,580,647 15,140,655
Property and equipment, net 331,218 85,718
Patents, net 912,249 608,913
Other non-current assets 35,840 0
Total Assets 11,859,954 15,835,286
Current liabilities:    
Accounts payable 429,428 539,145
Accrued expenses 741,803 461,193
Total current liabilities 1,171,231 1,000,338
Stockholders' equity:    
Common stock, $0.001 par value; 50,000,000 shares authorized; 7,021,721 and 6,931,968 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively 7,022 6,932
Common stock to be issued 0 151,665
Additional paid-in capital 32,336,720 31,431,220
Treasury stock (2,657) (2,657)
Accumulated deficit (21,652,362) (16,752,212)
Total stockholders' equity 10,688,723 14,834,948
Total Liabilities and Stockholders' Equity $ 11,859,954 $ 15,835,286