Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

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