Consolidated Statements of Cash Flows (USD $)	9 Months Ended
Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:
Net loss	$ (2,951,649)	$ (3,334,480)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	22,803	33,459
Stock-based compensation	426,809	1,205,430
Changes in assets and liabilities:
Royalty receivables	(354,465)	(275,800)
Prepaid expenses and other assets	47,526	127,014
Deferred revenue	(8,750)	38,749
Accounts payable and accrued expenses	120,272	(25,986)
Net cash used in operating activities	(2,697,454)	(2,231,614)
Cash flows from investing activities:
Purchase of fixed assets	(109,817)	(44,539)
Change in short term investments	(3,003,915)	(6,535)
Net cash used in investing activities	(3,113,732)	(51,074)
Cash flows from financing activities:
Proceeds from sale of common stock	3,278,250
Net proceeds from exercise of options and warrants	304,788
Net cash provided by financing activities	3,583,038
Net decrease in cash and cash equivalents	(2,228,148)	(2,282,688)
Cash and cash equivalents at beginning of year	5,866,123	8,390,233
Cash and cash equivalents at end of period	$ 3,637,975	$ 6,107,545

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Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.