Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.3.0.814
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 32,254,879 $ 18,474,211
Trade accounts receivable 17,358  
Other current assets 1,285,041 1,207,072
Prepaid expenses 589,928 109,332
Income tax receivable 3,534 14,810
Total current assets 34,150,740 19,805,425
Property and equipment, net 1,928,192 2,052,221
Deferred tax asset 24,464 26,522
Other non-current assets 97,111  
Total assets 36,200,507 21,884,168
Current liabilities:    
Trade accounts payable 1,117,557 1,260,015
Accrued expenses 1,033,926 743,866
Deferred tax liability 24,464 26,522
Other current liabilities 65,714 242,755
Bank loan, including accrued interest   1,270,605
Total current liabilities 2,241,661 3,543,763
Accrued expenses, non-current 308,071 333,988
Total liabilities 2,549,732 3,877,751
Stockholders' equity:    
Common stock, $0.001 par value per share, 300,000,000 shares authorized and 39,759,530 and 29,279,522 issued and outstanding at September 30, 2015 and December 31, 2014 39,760 29,280
Additional paid-in capital 111,725,327 84,627,283
Accumulated other comprehensive loss (1,150,279) (843,097)
Accumulated deficit (76,964,033) (65,807,048)
Total stockholders' equity 33,650,775 18,006,417
Total liabilities and stockholders' equity $ 36,200,507 $ 21,884,168