Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 5,538,765 $ 10,022,247
Accounts receivable, net 279,299 221,084
Inventories, net 131,765 251,363
Prepayments and other current assets 83,382 283,208
Total current assets 6,033,211 10,777,902
Property and equipment, net 458,856 669,571
Intangible assets, net 2,109,981 2,082,014
Other assets 55,420 37,500
Total Assets 8,657,468 13,566,987
Current liabilities:    
Accounts payable 737,083 449,475
Accrued expenses 1,068,418 1,081,155
Total current liabilities 1,805,501 1,530,630
Other long-term liabilities 465,181 456,234
Total liabilities 2,270,682 1,986,864
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, 2018 and December 31, 2017, respectively 1,518 1,518
Common stock, $0.001 par value; 50,000,000 shares authorized; 14,004,465 shares issued and 13,999,756 shares outstanding at September 30, 2018 and 13,998,465 shares issued and 13,996,121 shares outstanding at December 31, 2017, respectively 14,004 13,998
Additional paid-in capital 67,919,163 67,081,359
Treasury stock, at cost; 4,709 shares at September 30, 2018 and 2,344 shares at December 31, 2017 (10,105) (7,489)
Accumulated deficit (61,537,794) (55,509,263)
Total stockholders' equity 6,386,786 11,580,123
Total Liabilities and Stockholders' Equity $ 8,657,468 $ 13,566,987