Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash $ 31,188,527 $ 29,349,124
Trade accounts receivable 70,259  
Prepaid expenses and other current assets 3,608,102 2,311,385
Total current assets 34,866,888 31,660,509
Property and equipment, net 2,210,389 2,162,771
Other non-current assets 128,020 126,781
Total assets 37,205,297 33,950,061
Current liabilities:    
Trade accounts payable 1,711,028 1,058,536
Accrued expenses and other current liabilities 2,322,044 1,739,380
Deferred revenues, current portion 2,464,722  
Total current liabilities 6,497,794 2,797,916
Deferred revenue, net of current portion 3,491,690  
Other long-term liabilities 39,742 23,852
Total liabilities 10,029,226 2,821,768
Stockholders' equity:    
Common stock, $0.001 par value per share, 300,000,000 shares authorized and 39,833,023 shares issued and outstanding at March 31, 2016 and December 31, 2015 39,833 39,833
Additional paid-in capital 112,595,106 112,226,723
Accumulated other comprehensive loss (1,432,125) (1,272,574)
Accumulated deficit (84,026,743) (79,865,689)
Total stockholders' equity 27,176,071 31,128,293
Total liabilities and stockholders' equity $ 37,205,297 $ 33,950,061