Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 13,335,908 $ 4,204,916
Accounts receivable, net 205,646 378,658
Inventories, net 366,535 1,245,147
Prepayments and other current assets 252,532 312,593
Total current assets 14,160,621 6,141,314
Property and equipment, net 751,138 936,486
Intangible assets, net 2,099,182 1,905,556
Other assets 0 17,920
Total Assets 17,010,941 9,001,276
Current liabilities:    
Accounts payable 212,984 346,767
Accrued expenses 1,180,282 1,149,129
Total current liabilities 1,393,266 1,495,896
Other long-term liabilities 489,941 265,418
Total liabilities 1,883,207 1,761,314
Commitments and contingencies (see Note 8)
Stockholders’ equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 1,518,430 shares issued and outstanding at June 30, 2017 1,518 0
Common stock, $0.001 par value; 50,000,000 shares authorized; 13,998,465 shares issued and 13,996,782 shares outstanding at June 30, 2017 and 9,560,896 shares issued and 9,559,213 shares outstanding at December 31, 2016, respectively 13,998 9,561
Additional paid-in capital 66,471,006 52,310,481
Treasury stock, at cost; 1,683 shares at June 30, 2017 and December 31, 2016 (5,915) (5,915)
Accumulated deficit (51,352,873) (45,074,165)
Total stockholders’ equity 15,127,734 7,239,962
Total Liabilities and Stockholders’ Equity $ 17,010,941 $ 9,001,276