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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
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3 Months Ended | |
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Mar. 31, 2015
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Mar. 31, 2014
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| Cash flows from operating activities | ||
| Net loss | $ (1,174,337)us-gaap_NetIncomeLoss | $ (1,403,474)us-gaap_NetIncomeLoss |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Stock based compensation expense | 228,352us-gaap_ShareBasedCompensation | 155,378us-gaap_ShareBasedCompensation |
| Amortization of debt discounts | 47,608us-gaap_AmortizationOfDebtDiscountPremium | 0us-gaap_AmortizationOfDebtDiscountPremium |
| Depreciation and amortization | 3,213us-gaap_DepreciationAndAmortization | 3,456us-gaap_DepreciationAndAmortization |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | 23,101us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 25,307us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Accounts payable and accrued expenses | 5,879us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | (215,264)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities |
| Accounts payable - license agreements | 11,719us-gaap_IncreaseDecreaseInAccountsPayable | 79,238us-gaap_IncreaseDecreaseInAccountsPayable |
| Accounts payable and accrued expenses - related parties | (15,815)us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties | (13,340)us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties |
| Net cash used in operating activities | (870,280)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (1,368,699)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| Cash flows from investing activities | ||
| Purchase of equipment | (12,914)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | 0us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Net cash used in investing activities | (12,914)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | 0us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
| Cash flows from financing activities | ||
| Net proceeds from exercise of warrants and options | 50,000us-gaap_ProceedsFromStockOptionsExercised | 1,308,284us-gaap_ProceedsFromStockOptionsExercised |
| Net cash provided by financing activities | 50,000us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 1,308,284us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| Net decrease in cash | (833,194)us-gaap_CashPeriodIncreaseDecrease | (60,415)us-gaap_CashPeriodIncreaseDecrease |
| Cash and cash equivalents, beginning of period | 2,247,557us-gaap_Cash | 4,137,068us-gaap_Cash |
| Cash and cash equivalents, end of period | 1,414,363us-gaap_Cash | 4,076,653us-gaap_Cash |
| Supplemental disclosures of cash flow information | ||
| Cash paid during the year for: Interest | 0us-gaap_InterestPaidNet | 0us-gaap_InterestPaidNet |
| Cash paid during the year for: Income taxes | 0us-gaap_IncomeTaxesPaidNet | 0us-gaap_IncomeTaxesPaidNet |
| Non-cash investing and financing activities | ||
| Common stock issued on conversion of convertible debentures | $ 52,800us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | $ 0us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities |
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- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the obligations due for goods and services provided by the following types of related parties: a parent company and its subsidiaries, subsidiaries of a common parent, an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The gross value of stock issued during the period upon the conversion of convertible securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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