Quarterly report pursuant to Section 13 or 15(d)

3. DEBT (Tables)

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3. DEBT (Tables)
9 Months Ended
Sep. 30, 2015
Oxford Loan  
Summary of loans
Gross proceeds   $ 16,000,000  
Less: debt discount, net        
End of term fee     (1,337,061 )
Warrants     (337,573 )
Financing fees     (209,380 )
Note payable   $ 14,115,986  
Hercules Loan  
Summary of loans
Gross proceeds   $ 15,000,000  
Plus: payment in kind interest     176,245  
      15,176,245  
Less: debt discount, net        
Warrants     (403,979 )
Financing fees     (161,951 )
End of term fee     (42,030 )
Note payable   $ 14,568,285