Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v3.5.0.2
Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2016
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents

Cash and cash equivalents consist of the following:

 

    June 30 2016     December 31, 2015  
             
Cash   $ 35,217     $ 255,943  
Money market funds     21,989,790       12,082,332  
    $ 22,025,007     $ 12,338,275  

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2016 and 2015:

 

    Three Months Ended June 30     Six Months Ended June 30  
    2016     2015     2016     2015  
Basic and diluted net loss per share of common stock:                                
Net loss   $ (4,189,391 )   $ (2,562,541 )   $ (7,081,632 )   $ (4,098,259 )
Net loss applicable to common stockholders   $ (4,189,391 )   $ (2,562,541 )   $ (7,081,632 )   $ (4,098,259 )
Weighted average shares of common stock outstanding     38,748,452       26,901,100       38,176,831       26,434,174  
Net loss per share of common stock-basic and diluted   $ (0.11 )   $ (0.10 )   $ (0.19 )   $ (0.16 )

 

Potentially Dilutive Securities Excluded from the Computation of Dilutive Weighted Average Shares Outstanding

The following potentially dilutive securities outstanding at June 30, 2016 and 2015 have been excluded from the computation of dilutive weighted average shares outstanding as the inclusion would be anti-dilutive.

 

    June 30,  
    2016     2015  
Warrants      1,964,250       8,896,848  
Stock options     5,362,621       3,716,170  
Total     7,326,871       12,613,018