Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 11,681,887 $ 4,204,916
Accounts receivable, net 387,081 378,658
Inventories, net 327,461 1,245,147
Prepayments and other current assets 171,147 312,593
Total current assets 12,567,576 6,141,314
Property and equipment, net 647,657 936,486
Intangible assets, net 2,059,645 1,905,556
Other assets 0 17,920
Total Assets 15,274,878 9,001,276
Current liabilities:    
Accounts payable 287,114 346,767
Accrued expenses 1,250,484 1,149,129
Total current liabilities 1,537,598 1,495,896
Other long-term liabilities 493,088 265,418
Total liabilities 2,030,686 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 September 30, 2017 1,518 0
Common stock, $0.001 par value; 50,000,000 shares authorized; 13,998,465 shares issued and 13,996,121 shares outstanding at September 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 66,806,637 52,310,481
Treasury stock, at cost; 2,344 shares at September 30, 2017 and 1,683 shares at December 31, 2016, respectively (7,489) (5,915)
Accumulated deficit (53,570,472) (45,074,165)
Total stockholders’ equity 13,244,192 7,239,962
Total Liabilities and Stockholders’ Equity $ 15,274,878 $ 9,001,276