XML 16 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (952,555) $ (1,176,693)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 43,852 47,412
Change in assets and liabilities:    
Royalty receivables 33,578 (59,539)
Prepaid expenses and other current assets 178,065 54,237
Deferred revenue 33,750 30,762
Accounts payable and accrued expenses 17,710 67,482
Net cash used in operating activities (645,600) (1,036,339)
Cash flows from investing activities:    
Purchases of fixed assets (4,121) (1,591)
Proceeds from sale of investments and change in investments 1,523,333 (2,568)
Net cash provided by (used in) investing activities 1,519,212 (4,159)
Cash flows from financing activities:    
Net cash provided by financing activities
Net increase (decrease) in cash and cash equivalents 873,612 (1,040,498)
Cash and cash equivalents at beginning of year 1,691,603 5,712,310
Cash and cash equivalents at end of period $ 2,565,215 $ 4,671,812