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Balance Sheets
Dec. 31, 2015
USD ($)
Current assets:  
Cash and cash equivalents $ 7,697,531
Accounts receivable 55,867
Due from former parent 3,199
Inventory 229,871
Deferred offering costs 143,231
Prepaid expenses 324,083
Total current assets 8,453,782
Property and equipment, net 829,232
Restricted cash 3,000,000
Other assets 122,163
Total assets 12,405,177
Current liabilities:  
Accounts payable 574,462
License fee payable to former parent 425,000
Deferred revenue 251,936
Convertible notes payable 150,000
Accrued expenses 798,434
Warrant liability 0
Current portion of long-term debt 1,707,899
Total current liabilities 3,907,731
Long-term debt, net of discount 4,095,028
Deferred rent 3,321
Total liabilities 8,006,080
Commitments and Contingencies (See note 6)
Stockholders' Equity (Deficit):  
Preferred stock: $0.0001 par value, 10,000,000 shares authorized at December 31, 2016 and December 31, 2015; no shares issued and outstanding at December 31, 2016 and December 31, 2015.
Common stock: $0.0001 par value, 50,000,000 shares authorized at December 31, 2016 and December 31, 2015; 14,007,132 and 8,124,923 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively. 812
Additional paid-in capital 30,100,613
Accumulated deficit (25,702,328)
Total stockholders' deficit 4,399,097
Total liabilities, convertible preferred stock and stockholders' deficit $ 12,405,177