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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net loss $ (1,218,646) $ (1,236,331) $ (2,231,651) $ (2,750,344)
Adjustments to reconcile net loss to net cash used in operating activities:        
Stock-based compensation     75,945 165,176
Depreciation 12,460 15,565 45,764 43,402
Accretion of asset retirement obligation     12,911 12,232
Changes in assets and liabilities:        
Interest receivable     3,633 2,279
Prepaid expenses and deposits     6,473 (48,885)
Accounts payable     229,088 (67,705)
Payroll and payroll taxes payable     26,989 (667)
Net cash used in operating activities     (1,830,848) (2,644,512)
CASH FLOWS FROM INVESTING ACTIVITIES:        
Purchase of property and equipment       (760)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Proceeds from term loan     1,355,000  
Proceeds from sales of common stock     183,507  
Cumulative preferred stock dividends     (126,948) (105,780)
Net cash provided by (used in) financing activities     1,411,559 (105,780)
NET DECREASE IN CASH AND CASH EQUIVALENTS     (419,289) (2,751,052)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD     1,203,048 3,862,462
CASH AND CASH EQUIVALENTS, END OF PERIOD 783,759 1,111,410 783,759 1,111,410
SUPPLEMENTAL INFORMATION:        
Interest paid     474  
SUPPLEMENTAL DISCLOSURE OF NONCASH FINANCING ACTIVITIES:        
Accrual of cumulative preferred stock dividends $ 1,299 $ 52,890 1,299 $ 52,890
Preferred shares converted to common shares     $ 3,526,000