Consolidated Balance Sheets - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 3,789,791	$ 5,712,310
Short-term investments	1,518,925	1,513,784
Royalty receivables, net of reserves of $629,457 in 2016 and 2015	1,331,826	1,314,675
Prepaid expenses and other current assets	80,989	133,465
Total current assets	6,721,531	8,674,234
Fixed assets, net	738,767	836,216
Deposits and other assets	33,567	33,567
Total assets	7,493,865	9,544,017
Current liabilities:
Accounts payable	60,134	46,734
Accrued expenses and other	631,377	421,478
Deferred revenue	20,000
Total current liabilities	711,511	468,212
Shareholders' equity:
Common stock, par value $0.0001 per share; authorized 100,000,000 shares, issued and outstanding 24,043,846 shares for 2016 and 2015	2,404	2,404
Additional paid-in capital	111,483,959	111,483,959
Accumulated deficit	(104,704,009)	(102,410,558)
Total shareholders' equity	6,782,354	9,075,805
Total liabilities and shareholders' equity	$ 7,493,865	$ 9,544,017

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Name:	us-gaap_AccountsPayableCurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.