Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.7.0.1
Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents and Restricted Cash

Cash, cash equivalents, and restricted cash consists of the following:

 

    December 31,  
    2016     2015  
Cash   $ 1,127,530     $ 255,943  
Money market fund     13,864,727       12,082,332  
Cash and cash equivalents     14,992,257       12,338,275  
                 
Restricted cash, current     150,000        
Restricted cash, noncurrent     50,000       36,375  
Restricted cash     200,000       36,375  
Total cash, cash equivalents, and restricted cash 
shown in the statement of cash flows
  $ 15,192,257     $ 12,374,650  

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2016 and 2015:

 

    Years Ended December 31,  
    2016     2015  
Basic and diluted net loss per share of common stock:                
Net loss   $ (19,998,675 )   $ (8,850,739 )
Weighted average shares of common stock outstanding     41,137,518       31,350,145  
Net loss per share of common stock-basic and diluted   $ (0.49 )   $ (0.28 )

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

The following potentially dilutive securities outstanding at December 31, 2016 and 2015 have been excluded from the computation of dilutive weighted average shares outstanding as the inclusion would be antidilutive.

 

    December 31,  
    2016     2015  
Warrants     1,288,500       1,969,250  
Stock options     6,610,179       3,982,065  
      7,898,679       5,951,315