Quarterly report pursuant to Section 13 or 15(d)

Significant Accounting Policies (Tables)

v2.4.1.9
Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2015
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents

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