Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2015

Cash and cash equivalents consist of the following:


	March 31,		December 31,
	2015		2014
Cash	$	52,081	$	10,974
Money market fund		4,919,385		6,251,471

	$	4,971,466	$	6,262,445

Summary of Property and Equipment

Property and Equipment consists of the following:


	March 31,			December 31,
	2015			2014
Computer hardware and software	$	18,955		$	17,179
Office furniture and equipment		27,960			27,960
Leasehold improvements		19,310			19,310
Less: accumulated depreciation		(15,825	)		(10,405	)

Property and equipment, net	$	50,400		$	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 months ended March 31, 2015 and 2014:


	Three Months Ended March 31,
	2015			2014
Basic and diluted net loss per share of common stock:
Net loss		(1,535,718	)		(115,979	)

Net loss applicable to common stockholders		(1,535,718	)		(115,979	)

Weighted average shares of common stock outstanding		25,871,796			6,964,788

Net loss per share of common stock-basic and diluted	$	(0.06	)	$	(0.02	)

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

The following potentially dilutive securities outstanding at March 31, 2015 and 2014 have been excluded from the computation of dilutive weighted average shares outstanding as the inclusion would be antidilutive.


	March 31,
	2015		2014
Warrants		13,647,848		329,617
Prefered stock		—		1,835,212
Stock options		3,698,848		905,334

		17,346,696		3,070,163