XML 14 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 5,712,310 $ 7,569,537
Short-term investments 1,513,784 1,501,554
Royalties receivable, net of reserves of $629,457 in 2015 and $305,171 in 2014 1,314,675 1,175,218
Prepaid expenses and other current assets 133,465 121,252
Total current assets 8,674,234 10,367,561
Fixed assets, net $ 836,216 660,201
Long-term investments 1,503,525
Deposits and other assets $ 33,567 33,567
Total assets 9,544,017 12,564,854
Current liabilities:    
Accounts payable 46,734 159,312
Accrued expenses and other 421,478 323,372
Total current liabilities 468,212 482,684
Shareholders' equity:    
Common stock, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 24,043,846 and 23,924,465 shares for 2015 and 2014 2,404 2,392
Additional paid-in capital 111,483,959 110,210,480
Accumulated deficit (102,410,558) (98,130,702)
Total shareholders' equity 9,075,805 12,082,170
Total liabilities and shareholders' equity $ 9,544,017 $ 12,564,854