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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2014

Income Taxes [Abstract]

Schedule of deferred tax assets

		June 30,  2014				December 31, 2013
Deferred tax assets:
Net operating loss		$	3,556,600			$	2,765,600
Stock based compensation			4,248,700				-
Research and development tax credits			197,700				436,300
Accruals			22,900				44,700
Other			2,900				46,000
Valuation allowance			(8,028,800	)			(3,292,600	)
Total		$	-			$	-

Reconciliation of the statutory tax rate to the effective tax rate

		Six Month Ended June 30,				Year Ended December,
		2014				2013				2012
Statutory federal income tax rate			34	%			34	%			34	%
State (net of federal benefit)			6.6	%			6.6	%			6.6	%
Non-deductible expenses			(13.1	)%			(29.7	)%			(18.8	)%
Other			(2.3	)%			-				-
Change in valuation allowance			(25.2	)%			(10.9	)%			(21.8	)%
Effective income tax rate			0	%			0	%			0	%

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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