Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Total
Beginning Balance, Amount at Dec. 31, 2013 $ 929 $ 74,209,004 $ (52,636,574) $ 21,573,359
Beginning Balance, Shares at Dec. 31, 2013 9,291,823      
Stock-based compensation $ 1,248,454 1,248,454
Net loss $ (16,813,163) (16,813,163)
Ending Balance, Amount at Dec. 31, 2014 $ 929 $ 75,457,458 (69,449,737) 6,008,650
Ending Balance, Shares at Dec. 31, 2014 9,291,823      
Issuance of common stock, net, Amount $ 141 10,245,239   10,245,380
Issuance of common stock, net, Shares 1,408,750      
Stock-based compensation   1,711,047   1,711,047
Stock issued in connection with stock options exercised, Amount $ 1 49,226   49,227
Stock issued in connection with stock options exercised, Shares 7,514      
Restricted stock, Amount $ 1 (1)   0
Restricted stock, Shares 5,000      
Elimination of warrant liability   408,900   408,900
Warrants issued in connection with note payable   367,700   367,700
Net loss     (17,969,930) (17,969,930)
Ending Balance, Amount at Dec. 31, 2015 $ 1,072 $ 88,239,569 $ (87,419,667) $ 820,974
Ending Balance, Shares at Dec. 31, 2015 10,713,087