Concentration of Credit Risk

3 Months Ended

Mar. 31, 2016

Risks and Uncertainties [Abstract]

Concentration of Credit Risk

NOTE 4. CONCENTRATION OF CREDIT RISK

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, investments and accounts receivable, including receivables from major customers.

The Company’s main financial institution for banking operations held 71% and 100% of the Company’s cash and cash equivalents as of March 31, 2016 and December 31, 2015, respectively.

The Company extends credit to domestic and international clients in various industries. Exposure to losses on accounts receivable is principally dependent on each client's financial position. At March 31, 2016 and December 31, 2015, $60,000 or 78% and $50,000 or 66%, respectively, of the Company’s outstanding receivable balance was with Denver Health Medical Center (“Denver Health”). See Note 7, License Agreements and Grants for more information.

For the three months endedMarch 31, 2016100% of product sales was with Denver Health.