Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

v3.8.0.1
Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 8,153,268 $ 10,022,247
Accounts receivable, net 152,716 221,084
Inventories, net 227,005 251,363
Prepayments and other current assets 251,146 283,208
Total current assets 8,784,135 10,777,902
Property and equipment, net 573,026 669,571
Intangible assets, net 2,088,428 2,082,014
Other assets 37,500 37,500
Total assets 11,483,089 13,566,987
Current liabilities:    
Accounts payable 299,730 449,475
Accrued expenses 1,008,149 1,081,155
Total current liabilities 1,307,879 1,530,630
Other long-term liabilities 459,216 456,234
Total liabilities 1,767,095 1,986,864
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 1,518,430 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 1,518 1,518
Common stock, $0.001 par value; 50,000,000 shares authorized; 13,998,465 shares issued and 13,996,121 shares outstanding at March 31, 2018 and December 31, 2017, respectively 13,998 13,998
Additional paid-in capital 67,273,392 67,081,359
Treasury stock, at cost, 2,344 shares at March 31, 2018 and December 31, 2017, respectively (7,489) (7,489)
Accumulated deficit (57,565,425) (55,509,263)
Total stockholders’ equity 9,715,994 11,580,123
Total liabilities and stockholders’ equity $ 11,483,089 $ 13,566,987