Significant Accounting Policies (Tables)
|
9 Months Ended |
Sep. 30, 2015 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Cash and Cash Equivalents |
Cash and cash equivalents consist of the following:
|
|
|
September 30,
|
|
|
December 31,
|
|
|
|
|
2015
|
|
|
2014
|
|
|
Cash
|
|
$
|
111,820
|
|
|
$
|
10,974
|
|
|
Money market funds
|
|
|
13,061,106
|
|
|
|
6,251,471
|
|
|
|
|
$
|
13,172,926
|
|
|
$
|
6,262,445
|
|
|
| Summary of Property and Equipment |
Property and Equipment consists of the following:
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|
|
September 30,
|
|
|
December 31,
|
|
|
|
|
2015
|
|
|
2014
|
|
|
Computer hardware and software
|
|
$
|
30,966
|
|
|
$
|
17,179
|
|
|
Office furniture and equipment
|
|
|
35,209
|
|
|
|
27,960
|
|
|
Leasehold improvements
|
|
|
19,310
|
|
|
|
19,310
|
|
|
Less: accumulated depreciation
|
|
|
(36,647
|
)
|
|
|
(10,405
|
)
|
|
Property and equipment, net
|
|
$
|
48,838
|
|
|
$
|
54,044
|
|
|
| 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 nine months ended September 30, 2015 and 2014:
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|
|
Three Months Ended September 30,
|
|
|
|
|
2015
|
|
|
2014
|
|
|
Basic and diluted net loss per share of common stock:
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(2,253,885
|
)
|
|
$
|
(659,621
|
)
|
|
Net loss applicable to common stockholders
|
|
|
(2,253,885
|
)
|
|
|
(659,621
|
)
|
|
Weighted average shares of common stock outstanding
|
|
|
34,770,597
|
|
|
|
25,542,755
|
|
|
Net loss per share of common stock-basic and diluted
|
|
$
|
(0.06
|
)
|
|
$
|
(0.03
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30,
|
|
|
|
|
2015
|
|
|
2014
|
|
|
Basic and diluted net loss per share of common stock:
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$
|
(6,352,144
|
)
|
|
$
|
(1,280,208
|
)
|
|
Net loss applicable to common stockholders
|
|
|
(6,352,144
|
)
|
|
|
(1,280,208
|
)
|
|
Weighted average shares of common stock outstanding
|
|
|
29,242,236
|
|
|
|
18,242,956
|
|
|
Net loss per share of common stock-basic and diluted
|
|
$
|
(0.22
|
)
|
|
$
|
(0.07
|
)
|
|
| Potentially Dilutive Securities Excluded from the Computation of Dilutive Weighted Average Shares Outstanding |
The following potentially dilutive securities outstanding at September 30, 2015 and 2014 have been excluded from the computation of dilutive weighted average shares outstanding as the inclusion would be antidilutive.
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|
|
September 30,
|
|
|
|
|
2015
|
|
|
2014
|
|
|
Warrants
|
|
|
1,969,250
|
|
|
|
1,112,180
|
|
|
Preferred stock
|
|
|
-
|
|
|
|
329,617
|
|
|
Stock options
|
|
|
3,828,065
|
|
|
|
597,243
|
|
|
Total
|
|
|
5,797,315
|
|
|
|
2,039,040
|
|
|