Annual report pursuant to Section 13 and 15(d)

Balance Sheet

v2.4.0.6
Balance Sheet (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current Assets:    
Cash and cash equivalents $ 13,486,543 $ 9,861,488
Marketable securities (note 3) 100,000 1,950,000
Prepaid expenses and other current assets (note 4) 188,808 333,171
Note receivable - current portion (note 5)   18,682
Total Current Assets 13,775,351 12,163,341
Restricted Cash Equivalents (note 15) 1,091,801 1,431,765
Equipment, Net (note 6) 52,156 94,542
Total Assets 14,919,308 13,689,648
Current Liabilities:    
Accounts payable and accrued expenses (note 7) 851,837 1,185,405
Deferred Research and Development Arrangement (note 8) 1,626,000 825,000
Other Liabilities (note 9) 65,417 104,388
Warrant Liabilities (note 12) 2,842,065 868,725
Total Liabilities 5,385,319 2,983,518
Commitments and Contingencies (note 15)      
Stockholders' Equity (note 10):    
Preferred stock, par value $0.0001, 100,000,000 authorized shares, none issued and outstanding 0 0
Common stock, par value $0.0001, 500,000,000 authorized shares, 119,443,194 and 95,359,861 issued and 119,428,989 and 95,345,656 oustanding 11,944 9,536
Additional paid-in capital 72,861,738 67,809,617
Accumulated deficit during the development stage (63,311,283) (57,084,613)
Treasury stock, 14,205 shares, at cost (28,410) (28,410)
Total Stockholders' Equity 9,533,989 10,706,130
Total Liabilities and Stockholders' Equity $ 14,919,308 $ 13,689,648