Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2016

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