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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net loss $ (2,852,108) $ (2,766,188)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense included in - General and administrative costs 157,659 775,124
Stock-based compensation expense included in - Research and development costs 392,038 171,049
Fair value of warrant - Extensions 34,016 302,691
Fair value of warrant - Discounts 171,757 $ 134,420
(Increase) decrease in -    
Licensing fee receivable (200,000)
Advances on research and development contract services 23,500 $ (197,297)
Prepaid expenses and other current assets (10,910) (7,006)
Increase (decrease) in -    
Accounts payable and accrued expenses 36,542 14,760
Research and development contract liabilities $ 66,380 10,903
Registration rights penalty obligation (74,000)
Net cash used in operating activities $ (2,181,126) (1,635,544)
Cash flows from investing activities:    
(Increase) decrease in money market funds 109,604 (207,564)
Net cash provided by (used in) investing activities 109,604 $ (207,564)
Cash flows from financing activities:    
Proceeds from sale of Series A Convertible Preferred Stock 1,750,000
Cash payments made for costs incurred in connection with sale of Series A Convertible Preferred Stock (12,608)
Proceeds from exercise of warrants 315,000 $ 1,412,500
Net cash provided by financing activities 2,052,392 1,412,500
Cash:    
Net decrease (19,130) (430,608)
Balance at beginning of period 44,411 475,019
Balance at end of period $ 25,281 $ 44,411
Supplemental disclosures of cash flow information:    
Interest
Income taxes
Non-cash financing activities:    
Conversion of advances due to Chairman and major stockholder into common stock $ 92,717
Accrued dividend on Series A Convertible Preferred Stock $ 2,000