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Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net loss $ (2,508,403) $ (2,389,419)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 19,569 21,786
Stock-based compensation 591,327 666,493
Recovery of uncollectible royalty receivable (30,000) (20,000)
Changes in assets and liabilities:    
Royalty receivables 300,021 145,431
Prepaid expenses and other assets 50,826 62,761
Deferred revenue 164,885 110,000
Accounts payable and accrued expenses (80,590) (21,139)
Net cash used in operating activities (1,492,365) (1,424,087)
Cash flows from investing activities:    
Purchase of fixed assets (5,815) (2,899)
Purchase of short term investments (2,000,000) 0
Net cash used in investing activities (2,005,815) (2,899)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 0 1,618,653
Net proceeds from the exercise of options/warrants 65,977 0
Net cash provided by financing activities 65,977 1,618,653
Net (decrease) increase in cash and cash equivalents (3,432,203) 191,667
Cash and cash equivalents at beginning of year 6,957,544 3,760,534
Cash and cash equivalents at end of period $ 3,525,341 $ 3,952,201