Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents $ 4,342,722 $ 207,330
Restricted cash 37,500  
Prepaid expenses 95,548 64,489
Other current assets 31,110 36,580
Total current assets 4,506,880 308,399
Property and equipment, net 16,046 21,354
Other assets    
Deposits and other assets 18,594 18,594
Total other assets 18,594 18,594
Total assets 4,541,520 348,347
Current liabilities    
Accounts payable 132,234 409,497
Accrued payroll and related expenses 144,723 45,566
Accrued license and patent reimbursement fees 90,216 119,428
Accrued expenses 177,081 125,799
Stock subscription liability   100,000
Provision for conversion of Series B preferred stock 75,488  
Income taxes payable   800
Total current liabilities 619,742 801,090
Noncurrent liabilities    
Deferred rent 3,221 805
Series B warrants 2,892,392  
Total noncurrent liabilities 2,895,613 805
Total liabilities $ 3,515,355 $ 801,895
Commitments and contingencies (Note 3)
Redeemable Convertible Series B Preferred Stock, $0.001 par value, 20 million shares authorized; 5,000 issued and outstanding as of September 30, 2015 and none issued and outstanding as of December 31, 2014, net of $411,661 in issuance costs; $5.0 million liquidation preference as of September 30, 2015 $ 1,620,459  
Stockholders' deficit    
Common stock, $0.001 par value; 236 million shares authorized; 18,078,163 issued and outstanding as of September 30, 2015 and 16 million issued and outstanding as of December 31, 2014 18,078 $ 16,000
Additional paid-in-capital 5,723,888 2,257,771
Warrants 731,036 190,000
Accumulated deficit (7,067,296) (2,917,319)
Total stockholders' deficit (594,294) (453,548)
Total liabilities and stockholders' deficit $ 4,541,520 $ 348,347