Concentration of Credit Risk

6 Months Ended

Jun. 30, 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 70% and 100% of the Company’s cash and cash equivalents as of June 30, 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 June 30, 2016 and December 31, 2015, $129,000 or 76% 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.

Revenue from product sales purchased from Denver Health represented 100% and 0% for the six months endedJune 30, 2016 and 2015 respectively. There were no product sales for the three months endedJune 30, 2016 and 2015.