XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (1,745,505) $ (2,853,182)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 131,725 141,481
Loss on sale of asset 1,776
Allowance for uncollectible accounts (1,785)
Change in assets and liabilities:    
Royalty receivables 336,739 (220,895)
Prepaid expenses and other current assets 205,825 69,770
Deferred revenue 46,666 10,000
Accounts payable and accrued expenses 5,815 136,293
Net cash used in operating activities (1,020,520) (2,714,757)
Cash flows from investing activities:    
Purchases of fixed assets (6,362) (8,055)
Proceeds from sale of fixed asset 6,000
Change in investments 1,523,333 (6,836)
Net cash provided by (used in) investing activities 1,516,971 (8,891)
Net increase (decrease) in cash and cash equivalents 496,451 (2,723,648)
Cash and cash equivalents at beginning of year 1,691,603 5,712,310
Cash and cash equivalents at end of period $ 2,188,054 $ 2,988,662