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Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 3,444,952 $ 12,583,764
Other current assets 371,562 498,798
Total current assets 3,816,514 13,082,562
Property & equipment, net of accumulated depreciation of $2,443,600 and $2,099,389, respectively 50,000 837,867
Other long-term assets 0 496,269
Total assets 3,866,514 14,416,698
Current liabilities:    
Accounts payable 377,956 739,850
Accrued expenses 625,890 1,008,077
Deferred revenue 0 2,905,165
Notes payable - Insurance 156,642 148,344
Total current liabilities 1,160,488 4,801,436
Total liabilities 1,160,488 4,801,436
Stockholders' equity:    
Preferred stock, no par value, 10,000,000 shares authorized, none issued and outstanding 0 0
Common stock, $0.01 par value, 150,000,000 shares authorized, 7,141,054 and 6,982,909 shares issued and outstanding 71,411 69,829
Additional paid in capital 163,954,215 162,884,919
Accumulated deficit (161,319,600) (153,339,486)
Total stockholders' equity 2,706,026 9,615,262
Total liabilities and stockholders' equity $ 3,866,514 $ 14,416,698