Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2015

Summary of Significant Accounting Policies [Abstract]

Schedule of Share-based Compensation Expense

Share-based compensation expense for the three months ended March 31, 2015 and 2014 was:

	Three months ended March 31,
	2015			2014
Research and development	$	60,735		$	189,917
General and administrative		192,633			338,961
Restructuring benefit		(53,741	)		-
Total share-based compensation expense	$	199,627		$	528,878

Schedule of Basic and Diluted Earnings Per Share

A reconciliation of the numerators and denominators of the basic and diluted per share computations for the three months ended March 31, 2015 is as follows (a reconciliation is not required for the 2014 quarter since the Company recorded a net loss for that period):

	Three months ended
	March 31, 2015
Numerator
Net income	$	1,463,395
Net income allocated to participating securities	$	(607	)
Numerator for basic income per share	$	1,462,788
Incremental allocation of net income to participating securities	$	3
Change in fair value of dilutive warrants	$	(185,774	)
Numerator for diluted income per share	$	1,277,017
Denominator
Denominator for basic income per share Weighted average outstanding common shares		63,633,290
Dilutive effect of stock options		327,020
Dilutive effect of warrants		19,550
Denominator for diluted income per share		63,979,859