Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

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CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Operating expenses        
Research and development $ 80,525 $ 152,288 $ 675,840 $ 232,862
General and administrative 775,623 744,004 2,882,682 2,929,799
Total operating expenses 856,148 896,292 3,558,522 3,162,661
Operating loss (856,148) (896,292) (3,558,522) (3,162,661)
Other expense (income)        
Change in fair value of warrant liability 27,665   (1,584,969)  
Net loss before income taxes (944,871) (1,182,292) (2,056,425) (4,148,661)
Provision for income taxes 400 500 1,200 1,316
Net loss $ (945,271) $ (1,182,792) $ (2,057,625) $ (4,149,977)
Basic and diluted loss per common share (in dollars per share) $ (0.05) $ (0.07) $ (0.1) $ (0.25)
Shares used in computing basic and diluted loss per share (in shares) 19,913,163 17,062,366 19,910,426 16,519,854
Series A preferred stock        
Other expense (income)        
Change in fair value of conversion rights of preferred stock $ 286,000 $ 986,000
Series B Preferred Stock        
Other expense (income)        
Change in fair value of conversion rights of preferred stock $ 61,058 $ 82,872