<SEC-DOCUMENT>0001437749-18-005301.txt : 20180323
<SEC-HEADER>0001437749-18-005301.hdr.sgml : 20180323
<ACCEPTANCE-DATETIME>20180323142726
ACCESSION NUMBER:		0001437749-18-005301
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		80
CONFORMED PERIOD OF REPORT:	20171231
FILED AS OF DATE:		20180323
DATE AS OF CHANGE:		20180323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GeoVax Labs, Inc.
		CENTRAL INDEX KEY:			0000832489
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMMERCIAL PHYSICAL & BIOLOGICAL RESEARCH [8731]
		IRS NUMBER:				870455038
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-52091
		FILM NUMBER:		18709718

	BUSINESS ADDRESS:	
		STREET 1:		1900 LAKE PARK DRIVE
		STREET 2:		SUITE 380
		CITY:			SMYRNA
		STATE:			2Q
		ZIP:			30080
		BUSINESS PHONE:		678-384-7220

	MAIL ADDRESS:	
		STREET 1:		1900 LAKE PARK DRIVE
		STREET 2:		SUITE 380
		CITY:			SMYRNA
		STATE:			2Q
		ZIP:			30080

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Geovax Labs, Inc.
		DATE OF NAME CHANGE:	20061002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DAUPHIN TECHNOLOGY INC
		DATE OF NAME CHANGE:	19940826

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUCCESSO INC
		DATE OF NAME CHANGE:	19910410
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>govx20171231_10k.htm
<DESCRIPTION>FORM 10-K
<TEXT>
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	<title>govx20171231_10k.htm</title>


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<div contenteditable="false" docsect="2" id="11195" sectdesc="Cover Page">&nbsp;</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>UNITED STATES</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b><b>SECURITIES AND EXCHANGE COMMISSION</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Washington, D.C. 20549</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:12pt;margin:0pt;text-align:center;"><b>FORM 10-K</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; text-indent: 0px; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

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			<td style="width: 36pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#9745;</b><b> </b></p>
			</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)</b><b> OF THE SECURITIES EXCHANGE ACT OF 1934</b><b>.</b></p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 36pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">For fiscal year ended December 31, 2017</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>&#9744;</b><b> </b></p>
			</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)</b><b> </b><b>OF THE SECURITIES EXCHANGE ACT OF 1934</b></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Commission File No. 000-52091</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:18pt;margin:0pt;text-align:center;"><b>GEOVAX LABS, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><i>(Exact name of Registrant as specified in its charter)</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:95.3%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align: top; width: 54%; text-align: center;"><b>Delaware</b></td>
			<td style="vertical-align: top; width: 45.9%; text-align: center;"><b>87-0455038</b></td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 54%; text-align: center;"><i>(</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>State or other jurisdiction of </i></font></td>
			<td style="vertical-align: top; width: 45.9%; text-align: center;"><i>(</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>IRS Employer</i></font></td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:54%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;"><i>incorporation or organization</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>)</i></font></p>
			</td>
			<td style="vertical-align:top;width:45.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><i>Identification Number</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>)</i></font></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:95.3%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align: top; width: 54%; text-align: center;"><b>1900 Lake Park Drive, Suite 380</b></td>
			<td style="vertical-align:top;width:45.9%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: top; width: 54%; text-align: center;"><b>Smyrna, GA</b></td>
			<td style="vertical-align: top; width: 45.9%; text-align: center;"><b>30080</b></td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:54%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><i>(Address of principal executive offices)</i></p>
			</td>
			<td style="vertical-align:top;width:45.9%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><i>(Zip Code)</i></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>(678) 384-7220</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><i>Registrant<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s telephone number, including area code:</font></i></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Securities registered pursuant to Section 12(b) of the Act:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>None</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Securities registered pursuant to Section 12(g) of the Act:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Common Stock $.001 par value</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><i>(Title of class)</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Rule 405 of the Securities Act. Yes </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9744;</b> No </font><b>&#9745;</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Yes <b>&#9744;</b> No <b>&#9745;</b></font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Yes&nbsp;<b>&#9745;</b> No <b>&#9744;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Yes </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9745;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> No </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9744;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (&sect; 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9745;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company,&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Large accelerated filer <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9744;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accelerated filer </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9744;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-accelerated filer </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9744;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smaller reporting company <b>&#9745;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </b>Emerging growth company <b>&#9744;</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp; <b>&#9744;</b></font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Yes </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9744;</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> No </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&#9745;</b></font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">The aggregate market value of Common S<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">tock held by non-affiliates of the registrant on June 30, 2017, based on the closing price on that date was $2,456,108.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Number of shares of Common <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Stock outstanding as of March 22, 2018: 131,736,810</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>DOCUMENTS INCORPORATED BY REFERENCE</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Portions of the<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> registrant&rsquo;s definitive Proxy Statement with respect to its 2018 Annual Meeting of Stockholders are incorporated by reference in Part III</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

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<div contenteditable="false" docsect="3" id="11196" sectdesc="Table of Contents">&nbsp;</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>Table of Contents</u></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr style="background-color: rgb(204, 238, 255);">
			<td colspan="3" style="width: 791%; text-align: center;">PART I</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td colspan="3" style="width: 791%; text-align: center;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 1</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Business</font></td>
			<td style="text-align: right; width: 2%;">1</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 1A</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Risk Factors</font></td>
			<td style="text-align: right; width: 2%;">13</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Ite<font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">m 1B</font></td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Unresolved Staff Comments</font></td>
			<td style="text-align: right; width: 2%;">20</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 2</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Properties</font></td>
			<td style="text-align: right; width: 2%;">20</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 3</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Legal Proceedings</font></td>
			<td style="text-align: right; width: 2%;">20</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 4</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Mine Safety Disclosures</font></td>
			<td style="text-align: right; width: 2%;">20</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">&nbsp;</td>
			<td style="width: 91%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td colspan="3" style="text-align: center; width: 791%;">PART II</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td colspan="3" style="text-align: center; width: 791%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 5</td>
			<td style="width: 91%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Market for Registrant&rsquo;s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities</font></p>
			</td>
			<td style="text-align: right; width: 2%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">21</font></td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 6</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Selected Financial Data</font></td>
			<td style="text-align: right; width: 2%;">22</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 7</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</font></td>
			<td style="text-align: right; width: 2%;">22</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 7A</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Quantitative and Qualitative Disclosures about Market Risk</font></td>
			<td style="text-align: right; width: 2%;">28</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 8</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Financial Statements and Supplementary Data</font></td>
			<td style="text-align: right; width: 2%;">28</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 9</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Changes in and Disagreements with Accountants on Accounting and Financial Disclosure</font></td>
			<td style="text-align: right; width: 2%;">28</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 9A</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Controls and Procedures</font></td>
			<td style="text-align: right; width: 2%;">28</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 9B</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Other Information</font></td>
			<td style="text-align: right; width: 2%;">29</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">&nbsp;</td>
			<td style="width: 91%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td colspan="3" style="text-align: center; width: 791%;">PART III</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td colspan="3" style="text-align: center; width: 791%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 10</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Directors, Executive Officers and Corporate Governance</font></td>
			<td style="text-align: right; width: 2%;">29</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 11</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Executive Compensation</font></td>
			<td style="text-align: right; width: 2%;">29</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 12</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters</font></td>
			<td style="text-align: right; width: 2%;">29</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 13</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Certain Relationships and Related Party Transactions, and Director Independence</font></td>
			<td style="text-align: right; width: 2%;">29</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 14</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Principal Accounting Fees and Services</font></td>
			<td style="text-align: right; width: 2%;">30</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">&nbsp;</td>
			<td style="width: 91%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td colspan="3" style="text-align: center; width: 791%;">PART IV</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td colspan="3" style="text-align: center; width: 791%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">Item 15</td>
			<td style="width: 91%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Exhibits and Financial Statement Schedules</font></td>
			<td style="text-align: right; width: 2%;">30</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 7%;">Item 16</td>
			<td style="width: 91%;">Form 10-K Summary</td>
			<td style="text-align: right; width: 2%;">30</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">&nbsp;</td>
			<td style="width: 91%;">&nbsp;</td>
			<td style="text-align: right; width: 2%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td colspan="2" rowspan="1" style="width: 7%;">Signatures</td>
			<td style="text-align: right; width: 2%;">31</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 7%;">&nbsp;</td>
			<td style="width: 91%;">&nbsp;</td>
			<td style="text-align: right; width: 2%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td colspan="2" rowspan="1" style="width: 7%;">Exhibit Index</td>
			<td style="text-align: right; width: 2%;">32</td>
		</tr>

</table>

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<div id="PGNUM" style="text-align: center; width: 100%">ii</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>PART I</u></b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>ITEM</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b><u>BUSINESS</u></b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>This Annual Report (including the following section regarding Management<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations) contains forward-looking statements regarding our business, financial condition, results of operations and prospects. Words such as &ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;believes,&rdquo; &ldquo;seeks,&rdquo; &ldquo;estimates&rdquo; and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this Annual Report. Additionally, statements concerning future matters, including statements regarding our business, our financial position, the research and development of our products and other statements regarding matters that are not historical are forward-looking statements.</font></i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Although forward-looking statements in this Annual Report reflect the good faith judgment of our management, such statements can only be based on facts and factors currently known by us. Consequently, forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include without limitation those discussed under the heading &ldquo;Risk Factors&rdquo; below, as well as those discussed elsewhere in this Annual Report. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this Annual Report. We undertake no obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this Annual Report. Readers are urged to carefully review and consider the various disclosures made in this Annual Report, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations and prospects.</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Overview</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax Labs, Inc. (&ldquo;GeoVax&rdquo; or the &ldquo;Company&rdquo;) is a clinical-stage biotechnology company developing human vaccines against infectious diseases and cancer using a novel patented Modified Vaccinia Ankara-Virus Like Particle (MVA-VLP) vaccine platform. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> In this platform, MVA, a large virus capable of carrying several vaccine antigens, expresses proteins that assemble into highly effective VLP immunogens in the person being vaccinated. The MVA-VLP virus replicates to high titers in approved avian cells for manufacturing but cannot productively replicate in mammalian cells. Therefore, the MVA-VLP derived vaccines elicit durable immune responses in the host similar to a live attenuated virus, while providing the safety characteristics of a replication-defective vector.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our current development programs are focused on preventive vaccines against Human Immunodeficiency Virus (HIV), Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, and Lassa), and malaria, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Our most advanced vaccine program is focused on the clade B subtype of HIV prevalent in the larger commercial markets of the Americas, Western Europe, Japan and Australia; this program is currently undergoing human clinical trials.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our corporate strategy is to advance and protect our vaccine platform and use its unique capabilities to design and develop an array of products. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We aim to advance products through to human clinical testing, and to seek partnership or licensing arrangements for commercialization. We will also leverage third party resources through collaborations and partnerships for preclinical and clinical testing. Our collaborators and partners include the National Institute of Allergy and Infectious Diseases (NIAID) of the National Institutes of Health (NIH), the HIV Vaccines Trial Network (HVTN), Centers for Disease Control and Prevention (CDC), United States Army Research Institute of Infectious Disease (USAMRIID), U.S. Naval Research Laboratory (USNRL), Emory University, University of Pittsburgh, Georgia State University Research Foundation (GSURF), Peking University, University of Texas Medical Branch (UTMB), the Institute of Human Virology (IHV) at the University of Maryland, the Scripps Research Institute (TSRI), the Burnet Institute in Australia, American Gene Technologies International, Inc. (AGT), ViaMune, Inc., Vaxeal Holding SA, and CaroGen Corporation.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We are incorporated in Delaware, and our offices and laboratory facilities are in<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b>Smyrna, Georgia (metropolitan Atlanta). </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our Technology</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Vaccines typically contain agents (antigens) that resemble disease-causing microorganisms. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Traditional vaccines are often made from weakened or killed forms of the virus or from its surface proteins. Many newer vaccines use recombinant DNA (deoxyribonucleic acid) technology to generate vaccine antigens in bacteria or cultured cells from specific portions of the DNA sequence of the target pathogen. The generated antigens are then purified and formulated for use in a vaccine. The most successful of these purified antigens have been non-infectious virus-like particles (VLPs) as exemplified by vaccines for hepatitis B (Merck&#39;s Recombivax<sup>&reg;</sup> and GSK&#39;s Engerix<sup>&reg;</sup>) and Papilloma viruses (GSK&#39;s Cervarix<sup>&reg;</sup>, and Merck&#39;s Gardasil<sup>&reg;</sup>). Our approach uses recombinant DNA and/or recombinant MVA to produce VLPs in the person being vaccinated (in vivo) reducing complexity and costs of manufacturing. In human clinical trials of our HIV vaccines, we have demonstrated that our VLPs, expressed from the cells of the person being vaccinated, can be safe, yet elicit both strong and durable humoral and cellular immune response.</font></p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">VLPs <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">can train the body&#39;s immune system to recognize and kill the authentic virus should it appear. VLPs can also train the immune system to recognize and kill virus-infected cells to control infection and reduce the length and severity of disease. One of the biggest challenges with VLP-based vaccines is to design the vaccines in such a way that the VLPs will be recognized by the immune system in the same way as the authentic virus would be. When VLPs for enveloped viruses like HIV, Ebola, Marburg or Lassa fever are produced <i>in vivo</i> (in the cells of the recipient), they include not only the protein antigens, but also an envelope consisting of membranes from the vaccinated individual&#39;s cells. In this way, they are highly similar to the virus generated in a person&#39;s body during a natural infection. VLPs produced <i>in vitro</i> (in a pharmaceutical plant), by contrast, have no envelope; or, envelopes from the cultured cells (typically hamster or insect cells) used to produce them. We believe our technology provides distinct advantages by producing VLPs that more closely resemble the authentic viruses. This feature of our immunogens allows the body&#39;s immune system to more readily recognize the virus. By producing VLPs <i>in vivo</i>, we also avoid potential purification issues associated with <i>in vitro</i> production of VLPs.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>Examples of VLPs</u></b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<div style="text-align: center;"><img src="vlpshot.jpg"></div>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 29.7pt 0pt 45pt; text-align: left;"><b>Figure 1. Electron micrographs showing </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>examples of</b><b> </b><b>VLPs</b><b> </b><b>produced</b><b> </b><b>by GeoVax vaccines </b><b>in</b><b> </b><b>human cells.</b> Note that the Ebola virus VLPs on the left self-assemble into the rod-like shape of the actual Ebola virus, while the HIV VLPs shown on the right take on the spherical shape of the actual HIV virus. While below the resolution of these micrographs, both types of VLPs display what we believe to be the native form of their respective viral envelope glycoproteins which we believe is key to generating an effective immune humoral response.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We selected MVA for use as the live viral component of our vaccines because of its well-established safety record and because of the ability of this vector to carry sufficient viral <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">sequences to produce VLPs. MVA was originally developed as a safer smallpox vaccine for use in immune-compromised people. It was developed by attenuating the standard smallpox vaccine by making over 500 passages of the virus in chicken embryos or chicken embryo fibroblasts, which resulted in a virus with limited ability to replicate in human cells but did not compromise the ability of MVA to grow on avian cells, which are used for manufacturing the virus. The deletions also resulted in the loss of immune evasion genes which assist the spread of wild type smallpox infections, even in the presence of human immune responses.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our MVA-VLP vaccine platform affords other unique advantages:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Safety:</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b> Our HIV vaccines have demonstrated outstanding safety in human clinical trials. Safety for MVA, generally, has been shown in more than 120,000 subjects in Europe, including immunocompromised individuals during the initial development of MVA and more recently with the development of MVA as a safer vaccine against smallpox.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Durability:</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b> Our technology raises highly durable (long-lasting) vaccine responses, the most durable in the field of vectored HIV vaccines. We hypothesize that elicitation of durable vaccine responses is conferred on responding B cells by the vaccinia parent of MVA, which raises highly durable responses for smallpox.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Limited pre-existing immunity to vector</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>:</b><b> </b> Following the eradication of smallpox in 1980, smallpox vaccinations subsequently ended, leaving all but those born before 1980 and selected populations (such as vaccinated laboratory workers, first responders) unvaccinated and without pre-existing immunity.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>No need for adjuvants:</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b> MVA stimulates strong innate immune responses and does not require the use of adjuvants.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Thermal stability:</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b> MVA is stable in both liquid and lyophilized formats (&gt; 6 years of storage).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Genetic stability and manufacturability:</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b> If appropriately engineered, MVA is genetically stable and can reliably be manufactured in either the established Chick Embryo Fibroblast cell substrate, or novel continuous cell lines that support scalability as well as greater process consistency and efficiency.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our Product Development Pipelin</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>e</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The table below summarizes the status of our product development programs, which are discussed in greater detail in the following pages.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 30%;"><u>Program</u></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>Stage of Development</u></font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>Collaborators / Funding Sponsor</u></font></td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%;">HIV-Clade B Preventive Vaccine</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Phase 2a completed</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">NIH/NIAID, HVTN, Emory University</font></td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 30%;">HIV-Clade B Immunotherapy</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Phase 1</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">AGT, Emory University</font></td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%;">HIV-Clade C Preventive Vaccine<font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preclinical</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">NIH/NIAID, Emory University</font></td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 30%;">Hemorrhagic Fever Vaccines</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%; padding-left: 9pt;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Ebola virus</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preclinical</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">NIH/NIAID, USAMRIID</font></td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 30%; padding-left: 9pt;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Lassa fever</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preclinical</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">NIH/NIAID, UTMB, IHV, TSRI, USNRL</font></td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%; padding-left: 9pt;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Sudan virus</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Discovery</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 30%; padding-left: 9pt;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Marburg virus</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Discovery</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%; padding-left: 0pt;">Zika Vaccine</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preclinical</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">NIH/NIAID, CDC</font></td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 30%;">Malaria Vaccine</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preclinical</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Burnet Institute</font></td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%;">Cancer Immunotherapy</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preclinical&nbsp;</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">ViaMune, Vaxeal, University of Pittsburgh</font></td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 30%;">Hepatitis B Immunotherapy</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Preclinical</font></td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 30%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">CaroGen, GSURF, Peking University</font></td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our HIV/AIDS Vaccine Program</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>About HIV/AIDS. </i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">HIV/AIDS is considered by many in the scientific and medical community to be the most lethal infectious disease in the world. An estimated 37 million people are living with HIV worldwide, with approximately 2.5 million newly infected annually. Approximately 39&nbsp;million people infected with HIV have died since the 1981 start of the HIV pandemic. The United States currently has an estimated 1.2 million HIV-infected individuals, with approximately 50,000 new infections per year, a number that has remained virtually the same for 20 years. Alarmingly the fastest growing demographic for acquiring an HIV infection in the US is the 13 &ndash; 24-year-old group which is expanding at roughly 10% per year and will soon become the group with the highest total number of infections. Moreover, </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">44% of new infections occur in African-Americans.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There are several AIDS-causing HIV virus subtypes, or clades, that are found in different regions of the world. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> These clades are identified as clade A, clade B and so on. The predominant clade found in Europe, North America, parts of South America, Japan and Australia is clade B, whereas the predominant clades in Africa are clades A and C. In India, the predominant clade is clade C. Genetic differences between the clades may mean that vaccines or treatments developed against HIV of one clade may only be partially effective or ineffective against HIV of other clades. Thus, there is often a geographical focus to designing and developing HIV vaccines.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">At present, the standard approach to treating HIV infection is to inhibit viral replication through the use of combinations of drugs. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Available drugs include reverse transcriptase inhibitors, protease inhibitors, integration inhibitors and inhibitors of cell entry. However, HIV is prone to genetic changes that can produce strains that are resistant to currently approved drugs. When HIV acquires resistance to one drug within a class, it can often become resistant to the entire class, meaning that it may be impossible to re-establish control of a genetically altered strain by substituting different drugs in the same class. Furthermore, these treatments continue to have significant limitations which include toxicity, patient non-adherence to the treatment regimens and cost. Thus, over time, viruses acquire drug-resistant mutations, and many patients develop intolerance to the medications or simply give up taking the medications due to cost, inconvenience or side effects.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Prevention of HIV infection remains a worldwide unmet medical need, even in the United States and other first world countries where effective antiretroviral therapies are available. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> There is no approved HIV vaccine. Current antiretroviral therapies (ART) do not eliminate HIV infection, requiring individuals to remain on such drugs for their entire lives. Uptake and successful long-term adherence to therapy is also limited. Only 30% of those infected with HIV in the US ultimately remain in HIV care with their viral load sufficiently suppressed to prevent spread of HIV. Furthermore, the financial burden to the U.S. taxpayer for HIV education, prevention, and treatment costs is borne through multiple federal agencies. The annual taxpayer cost of HIV in 2016 was $19 billion and is expected to grow to $26 billion by 2020, yet the overall infection rate has not changed in the last 20 years and not a single person has been cured of his/her HIV infection.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">According to the International AIDS Vaccine Initiative (IAVI), the cost and complexity of new treatment advances for HIV/AIDS puts them out of reach for most people in the countries where treatment is most needed. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> In industrialized nations, where drugs are more readily available, side effects and increased rates of viral resistance have raised concerns about their long-term use. Vaccines are seen by many as the most promising way to end the HIV/AIDS pandemic. It is expected that vaccines, once developed, will be used universally and administered worldwide by organizations that provide healthcare services, including hospitals, medical clinics, the military, prisons and schools.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our Preventive HIV Vaccine Program </i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><i>Clade B Preventive HIV Vaccine Program.</i></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i> </i> Our most clinically advanced vaccine is GOVX-B11, designed to protect against the clade B subtype of the HIV virus prevalent in the Americas, Western Europe, Japan and Australia. GOVX-B11 consists of a recombinant DNA vaccine used to prime immune responses and a recombinant MVA vaccine used to boost the primed responses. Both the DNA and MVA vaccines produce non-infectious VLPs in the cells of the vaccinated person.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Phase 1 and phase 2a clinical trials of GOVX-B11 have been conducted by the HVTN. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> In these trials, totaling approximately 500 participants, GOVX-B11 was tested at various doses and regimens and was extremely well tolerated. The HVTN is the largest worldwide clinical trials network dedicated to the development and testing of HIV/AIDS vaccines. Support for the HVTN comes from the NIAID, part of the NIH. The HVTN&rsquo;s HIV Vaccine Trial Units are located at leading research institutions in 27 cities on four continents. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In January 2017 HVTN began the next human clinical trial (HVTN 114) in the path toward human efficacy trials. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> HVTN 114 enrolled individuals who previously participated in the HVTN 205 Phase 2a trial of the GOVX-B11 vaccine, which concluded in 2012. HVTN 114 tests the ability of late boosts (additional vaccinations) to increase the antibody responses elicited by the GeoVax vaccine regimen. These &ldquo;late boosts&rdquo; consist of the GeoVax MVA62B vaccine with or without a gp120 protein vaccine. The gp120 protein, AIDSVAX<sup>&reg; </sup>B/E, is the same protein used to boost immune responses in the partially protective RV144 trial in Thailand and is being used in HVTN 114 to assess the effect of adding a protein vaccine to GOVX-B11. Participants in HVTN 114 receive either (a) another MVA62B boost, (b) a combined boost of MVA62B and AIDSVAX<sup>&reg; </sup>B/E, or (c) AIDSVAX<sup>&reg; </sup>B/E alone. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax, NIAID, HVTN, Duke University, Profectus BioSciences, and the University of Maryland<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s Institute for Human Virology (IHV) are actively planning a Phase 1 clinical trial that will test GOVX-B11 with two novel protein vaccines, the B.63521&#8710;11mutC gp120 vaccine developed by Duke and the IHV01 gp120 vaccine developed by IHV and Profectus. This trial will extend on the results from HVTN 114 and further elucidate the immunogenicity of GOVX-B11 in combination with protein vaccines. We expect the clinical trial to begin in late 2018.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><i>Clade C Preventive HIV Vaccine Program</i></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>.</i> We also are developing DNA/MVA vaccines designed for use against the clade C subtype of HIV that predominate in South Africa and India. NIAID has awarded us Small Business Innovative Research (SBIR) grants in support of this effort.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our HIV Immunotherapy Program</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Finding a cure for HIV/AIDS remains an elusive goal. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Current ART, though highly effective at suppressing HIV viral load, are unable to eliminate latent forms of HIV that are invisible to the immune system and inaccessible to antiretroviral drugs. Long-term use of ART can lead to loss of drug effectiveness and can come with severe side effects. The lifetime medical costs of treating an HIV-infected patient in the U.S. are estimated to exceed $500,000. Therefore, any new treatment regimen that allows patients to reduce, modify, or discontinue their antiretroviral therapy can offer measurable quality of life benefits to the patient and tremendous value to the marketplace.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In March 2017, we entered into collaboration with AGT whereby AGT intends to conduct a Phase<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 1 human clinical trial with our combined technologies during the second half of 2018. The GeoVax vaccine will be used to stimulate virus-specific CD4 T cells <i>in vivo</i>, which will then be harvested from the patient, genetically modified <i>ex vivo</i> using AGT&rsquo;s technology, and reinfused to the patient. The primary objectives of the trial will be to assess the safety and efficacy of the therapy, with secondary objectives to assess the immune responses as a measure of efficacy. The overall goal of the program will be to develop a functional cure for HIV infection. In a previous phase 1 clinical trial (GV-TH-01), we demonstrated that our vaccine can stimulate production of CD4<sup>+</sup> T cells in HIV infected patients&ndash; the intended use of the MVA-VLP HIV vaccine in the proposed AGT study. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our Hemorrhagic Fever Vaccine Program</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>s</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>About Ebola, Sudan, Marburg and Lassa fever viruses.</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Ebola (EBOV, formerly designated as Zaire ebolavirus), Sudan (SUDV), and Marburg viruses (MARV) are the current most virulent species of the <i>Filoviridae</i> family. They can cause up to a 90% fatality rate in humans and are epizootic in Central and West Africa with 28 outbreaks since 1976. The 2013-16 Ebola outbreak caused 28,616 cases and 11,310 deaths (40% fatal). Additional outbreaks are certain due to indigenous reservoirs of the virus (e.g. fruit bats).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Lassa fever virus (LASV), a member of the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Arenaviridae</i> family, also causes severe and often fatal hemorrhagic illnesses in an overlapping region with Ebola. In contrast to the unpredictable epidemics of filoviruses, LASV is endemic in West Africa with an annual incidence of &gt;300,000 infections, resulting in 5,000-10,000 deaths. Data from a recent study suggest that the number of annual LASV cases may be much higher, reaching three million infections and 67,000 deaths, putting as many as 200 million persons at risk. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Although the timing of the next filovirus outbreak cannot be predicted, it is certain that one will occur due to multiple factors such as:<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> the zoonotic nature of the virus, weak health systems, high population mobility, cultural beliefs and burial practices, and endemic infectious diseases such as malaria and Lassa fever that mimic early Ebola symptoms in those at natural risk; and for those not at natural risk, the risk of intentional release by a bioterrorist.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We believe an ideal vaccine against major filoviruses and LASV must activate both humoral and cellular arms of the immune system. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> It should include the induction of antibodies to slow the initial rate of infection and a cellular immune response to help clear the infection. Moreover, it should address strain variations by providing broad coverage against potential epizootic filovirus strains, and it should be safe not only in healthy individuals (e.g. travelers or health care workers), but also in immunocompromised persons (e.g., HIV infected) and those with other underlying health concerns. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Despite significant progress being made with some experimental vaccines in clinical trials, none have been fully tested for both safety and efficacy. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The replication competent rVSV-ZEBOV showed safety concerns in Phase 1 trials and by virtue of being replication competent could pose threats to immunocompromised individuals, such as those infected with HIV living in West Africa where recent Ebola epidemics started. The less advanced adeno-vectored vaccine candidates may require relatively cumbersome heterologous prime/boost regimens, for example with MVA, to elicit durable protective immunity. The use of Ad5 vectors also has been associated with concerns over increased susceptibility to HIV infection in areas with high HIV incidence. Even with rVSV-ZEBOV showing promise in the 2013-2015 epidemic, the world would benefit by being prepared with a safer and effective vaccine, to prevent or alleviate the effects of the next epidemic. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our Vaccines</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. To address the unmet need for a product that can respond to future filovirus epidemics and potentially end LASV infections in West Africa, we are developing innovative vaccines utilizing our MVA-VLP platform. We are addressing strain variations, and induction of broad humoral and cellular response through development of four monovalent vaccines, which we may also investigate blending together as a single tetravalent vaccine (TV) to provide broad coverage, potentially with a single dose. The MVA vector is considered safe, having originally been developed for use in immunocompromised individuals as a smallpox vaccine. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> vaccines are expected to not only protect at-risk individuals against EBOV, SUDV, MARV, and LASV, but also potentially reduce or modify the severity of other re-emerging filovirus pathogens such as Bundibugyo, Ivory Coast, and Reston viruses, based on antigenic cross reactivity and the elicitation of T cells to the more conserved matrix proteins (e.g. VP40 or Z) in addition to standard GP proteins used by us and other manufacturers. Thus, the GeoVax MVA-VLP approach offers a unique combination of advantages to achieve breadth and safety of a pan-filo/LASV vaccine. In addition to protecting people in Africa, it is intended to prevent the spread of disease to the US, and for preparedness against terrorist release of any of bio-threat pathogens. The initial markets for our vaccines are both NGOs such as the GAVI vaccine alliance and the Bill &amp; Melinda Gates Foundation, as well as US and foreign governments. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our initial preclinical studies in rodents and nonhuman primates for our first vaccine candidate (<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">for EBOV) have shown 100% protection against a lethal dose of Ebola virus upon a single immunization. Preclinical studies in rodents for our second vaccine candidate (for LASV) showed similarly impressive results (100% single-dose protection).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our Zika Virus Vaccine Program</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>About Zika Virus</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Zika disease is a rapidly spreading emerging infection caused by the Zika virus (ZIKV) and has been linked to an increase in microcephaly in infants and Guillain-Barre syndrome (a neurodegenerative disease) in adults. ZIKV is a member of the <i>Flaviviridae</i> family, which includes medically important pathogens such as dengue fever, yellow fever, Japanese encephalitis, tick-borne encephalitis, and West Nile viruses. ZIKV, which was first discovered in 1947 in the Zika forest of Uganda, was considered only a minor public health concern for 60 years. Recently, with its appearance and rapid spread in the Americas, it has emerged as a serious threat with pandemic potential. Symptoms of Zika infection have historically been mild. In the recent epidemic, however, an alarming association between ZIKV infection and fetal brain abnormalities including microcephaly has been observed. No approved preventive or therapeutic products are currently available to fight the Zika epidemic. Public health officials recommend avoiding exposure to ZIKV, delaying pregnancy, and following basic supportive care (fluids, rest, and acetaminophen) after infection. A vaccine is urgently needed to prevent a Zika pandemic.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our Vaccine</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. To address the unmet need for a ZIKV vaccine, we are developing novel vaccine candidates constructed in our MVA live vector platform, which has already shown great promise in our HIV and Ebola vaccines. We believe that, unlike other vaccines in development, the GeoVax vaccine combines a highly potent, yet safe, replication deficient viral vector (MVA) to deliver novel antigens of ZIKV to develop a single-dose vaccine. MVA has an outstanding safety record, which is particularly important given the need to include women of child-bearing age and newborns among those being vaccinated. Our Zika vaccine does not appear to induce Antibody Dependent Enhancement (ADE) of infection. ADE is a serious side effect induced when a vaccinated individual is bitten a second time by a mosquito carrying a second <i>flavivirus </i>such as dengue, resulting in a more virulent reaction. We expect these features to yield a safe and highly effective vaccine that is well suited to provide potent and durable immunity against ZIKV infection. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">collaborated with the US Centers for Disease Control (CDC) to develop a lethal challenge model in mice to test our vaccine candidates. We have demonstrated 100% protection in mice against a lethal challenge after a single dose vaccination. ZIKV and reagents are supplied by UTMB.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our Malaria Vaccine Program</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>About Malaria</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Malaria is a mosquito-borne disease caused by <i>Plasmodium</i> parasites. Symptoms are fever, chills, sweating, vomiting and flu-like illness. If untreated, severe complications (severe anemia, cerebral malaria and organ failure) will lead to death. Over 3 billion people in 106 countries and territories live at risk of malaria infection. According to the latest estimates from the World Health Organization (WHO), 214 million new cases of malaria were recorded worldwide in 2015, resulting in 438,000 deaths. There are 1,500 cases in the US each year (travelers returning home). Children under five years of age are particularly susceptible to malaria illness, infection, and death. In 2015, malaria killed an estimated 306,000 children. Current treatments include bed net distributions, drug treatment and mosquito spraying. Malaria parasites develop resistance to drugs and insecticides. Even though vaccines have shown to be the most cost-effective ways to fight and eliminate infectious diseases (Smallpox, polio, etc.), and after many decades of research and development, there is no commercial malaria vaccine at the present time. Even a vaccine with efficacy of 30-50% will prevent hundreds of thousands of deaths annually. Current vaccine candidates generally consist of subunit proteins, are poorly immunogenic, based on limited number of antigens (generally 4-5 antigens), do not target multiple stages of parasite life cycle, and do not induce strong durable functional antibodies and T cell responses. Therefore, identification of appropriate antigens and vaccine technologies is critical for development of an effective malaria vaccine. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our Vaccine Approach</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. An ideal malaria vaccine candidate should contain antigens from multiple stages of the malaria life cycle, and should induce both functional antibodies (predominantly IgG1 and IgG3 subtypes shown to be associated with protection) and strong cell mediated immunity (e.g. Th1 biased CD4+ ad CD8+) to reduce parasitemia by clearing infected cells (liver cells or erythrocytes). We have shown (in animal models and humans) that MVA-VLP vaccines can induce a Th1 biased response with both durable functional antibodies (IgG1 and IgG3) and CD4<sup>+</sup> and CD8<sup>+</sup> T cell responses both of which are hallmarks of an ideal malaria vaccine.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> established a collaboration with the Burnet Institute, a leading infectious diseases research institute in Australia, for the development of a vaccine to prevent malaria infection. The project includes the design, construction, and characterization of multiple malaria vaccine candidates using GeoVax&rsquo;s MVA-VLP vaccine platform combined with malaria <i>Plasmodium falciparum</i> and <i>Plasmodium vivax</i> sequences identified by the Burnet Institute. The vaccine design, construction, and characterization will be performed at GeoVax with further characterization and immunogenicity studies in animal models conducted at Burnet Institute using their unique functional assays that provide key information on vaccine efficacy.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our Hepatitis B Vaccine Program</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>About Hepatitis B Disease</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Hepatitis B is a contagious liver disease caused by the Hepatitis B virus (HBV). It is transmitted person-to-person by blood, semen, or other bodily fluids. This can happen through sexual contact, needle sharing, or mother to infant transmission during birth. For some people, Hepatitis B is an acute (or short-term) illness; but for others, it can become a long-term, chronic infection that may lead to serious health issues like cirrhosis or liver cancer. The risk of chronic infection is related to age at infection. Approximately 90% of infected infants will develop chronic infections. As a child gets older, the risk decreases. Approximately 25%&ndash;50% of children infected between the ages of 1 and 5 years will develop chronic hepatitis. The risk drops to 6%&ndash;10% when a person is infected at over 5 years of age. Worldwide, most people with chronic Hepatitis B were infected at birth or during early childhood.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The CDC estimates that between 700,000 to 1.4 million people in the United States have chronic HBV infections, with an estimated 20,000 new infections every year. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Many people are unaware that they are infected or may not show any symptoms. Therefore, they never seek the attention of medical or public health officials. Globally, chronic Hepatitis B affects more than 240 million people and contributes to nearly 686,000 deaths worldwide each year. Even though a preventive HBV vaccine is available, less than 5% of chronic HBV infections are cured through currently available therapies.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our Hepatitis B Vaccine Approach</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. There is a clear medical need to treat chronic HBV infections, which affect hundreds of millions of people around the world, many of whom die due to complications of HBV including cirrhosis and cancer. Multiple vaccines exist to protect against HBV infection, but they cannot help patients already diagnosed with the disease. Although chronic HBV can be treated with drugs, the treatments do not cure 95% of patients; they cannot induce strong neutralizing antibodies and cellular responses needed to break tolerance to HBV antigens and clear infections, but only suppress the replication of the virus. Therefore, most people who start treatments must continue with them for life. Moreover, diagnosis and treatment options are very limited in resource/low income-constrained populations, which leads to many patients succumbing within months of diagnosis. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> combination therapeutic vaccine strategy is comprised of multivalent vaccine antigens delivered by DNA and MVA-VLP in combination with the standard-of-care treatment to induce functional antibodies and CD4<sup>+</sup>, CD8<sup>+</sup> T cell responses to clear infection and break tolerance needed toward a functional cure. Our goal is to significantly increase the current cure rate of HBV infections while reducing the duration of drug therapy, overall treatment costs, side effects, and potential drug resistance.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Given the challenges and difficulties of developing an effective therapy for chronic HBV infections, our strategy is to engage with multiple collaborators for combination therapies to increase our chances of success. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">We initially began collaborating in 2017 with Georgia State University Research Foundation (GSU) on a project that includes the design, construction, characterization and animal testing of multiple vaccine candidates using our MVA-VLP vaccine platform. Vaccine antigens include both GeoVax and GSU&rsquo;s proprietary designed sequences. In February 2018, we expanded our collaborative efforts to include CaroGen Corporation to evaluate our MVA-VLP-HBV vaccine candidates in combination with CaroGen&rsquo;s HBV virus-like vesicles (VSV) vaccine candidate.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our Cancer Immunotherapy Program</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>About Cancer Immunotherapy</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>.</b> Cancer is the second most common cause of death in the US, exceeded only by heart disease. Its global burden is expected to rise to 22 million new cases per year by 2030. Currently, there is only one FDA approved cancer vaccine, PROVENGE&reg; (sipuleucel-T). PROVENGE&reg; is a personalized therapy for prostate cancer patients, which prolongs survival times by about 4 months. However, the field of immuno-oncology has received new momentum with the discovery and initial launch of monoclonal antibodies (Mabs) called immune checkpoint inhibitors (ICIs). Tumors hijack the body&rsquo;s natural immune checkpoints by over expressing immune checkpoint ligands (proteins that bind to and activate the inhibitory activity of immune checkpoints), as a mechanism of immune resistance, especially against the T cells that are specific for tumor antigens and can kill cancer cells. ICIs block the interaction of Immune checkpoints with their ligands on tumor cells, allowing poorly functional T cells to resume proliferation, cytokine production and killing of tumor cells. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Unlike conventional therapies (e.g.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> radiation, chemotherapy, antibody, etc.), cancer vaccines have the potential to induce responses that not only result in the control and even clearance of tumors but also establish immunological memory that can suppress and prevent tumor recurrence. Convenience, safety, and low toxicity of cancer vaccines could make them invaluable tools to be included in future immunotherapy approaches for treating tumors. Currently, there are only a few vectored cancer vaccines being tested in combination with ICIs, all of which are in early clinical stages.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our Immuno-Oncology Development Efforts.</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> GeoVax has established a collaboration with Dr. Olivera Finn, a leading expert in cancer immunotherapy at the University of Pittsburgh. Dr. Finn was the first to show that many tumors express an abnormal form of cell surface-associated Mucin 1 (MUC1) protein that is recognized by the immune system as foreign. Given this, we are developing our MVA-VLP vaccine platform to deliver abnormal forms of MUC1 with the goal of raising protective anti-tumor antibodies and T cell responses in cancer patients. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We are also collaborating with ViaMune, Inc., which has developed a fully synthetic MUC1 vaccine candidate (MTI). <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The collaboration will assess each companies&rsquo; vaccine platform, separately, and in combination, with the goal of developing a tumor MUC1 vaccine that can produce a broad spectrum of anti-tumor antibody and T cell responses. The resulting MUC1 vaccine will be combined with ICIs as a novel vaccination strategy for cancer patients with advanced MUC1+ tumors. We have produced an MVA-VLP-MUC1 vaccine candidate, demonstrated VLP production by electron microscopy using MUC1 immunogold staining, and showed that the VLPs express a hypo-glycosylated form of MUC1 in human cell lines. Preclinical studies of the combined MTI and MVA-VLP-MUC1 vaccines conducted at the University of North Carolina at Charlotte have shown encouraging results and we are currently planning the next stage of preclinical testing</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In January 2018, we began an additional collaboration with Vaxeal Holding SA<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, in Switzerland to investigate a combination approach with another tumor-associated antigen (Cyclin B1). </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">The collaboration between GeoVax and Vaxeal will include the design, construction, characterization and animal testing of vaccine candidates using our MVA-VLP vaccine platform in combination with Vaxeal&rsquo;s proprietary designed antigen sequences.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Support from the United States Government</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Grants and Contracts.</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We have been the recipient of multiple federal grants and contracts in support of our vaccine development programs. Our most recent awards are as follows:</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">SBIR Grant No. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">1R43AI134200-01. In June 2017, NIAID awarded us a Small Business Innovation Research (SBIR) grant entitled &ldquo;<i>Advanced Preclinical Testing of a Novel Recombinant Vaccine Against Zika Virus</i>.&rdquo; The initial grant award was $300,000 for the first year of a two-year project period beginning June 24, 2017, with a total project budget of $600,000.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Staged Vaccine Development Contract. In August 2016, NIAID awarded us a <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Staged Vaccine Development</i> contract to produce our preventive HIV vaccine for use in future clinical trials. The award included a base contract of $199,442 for the initial period from August 1, 2016 to December 31, 2017 (the &ldquo;base period&rdquo;) to support process development, as well as $7.6 million in additional development options that can be exercised by NIAID. Prior to the end of the base period NIAID notified us that it did not plan to exercise the additional development option under the contract due to funds availability and NIAID&rsquo;s programmatic needs. We do not expect this to have an impact on the human clinical trials of our preventive HIV vaccine currently being conducted by the HVTN, or future trials being planned.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">SBIR Grant No. 2R44AI106422-03. In April 2016, NIAID awarded us a<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">n SBIR grant entitled &ldquo;<i>Enhancing Protective Antibody Responses for a DNA/MVA HIV Vaccine</i>.&rdquo; The initial grant award was $740,456 for the first year of a two-year project period beginning April 15, 2016, with a total project budget of $1,398,615. In March 2017, NIAID awarded us $658,159 for the second year of the project period to test the effects of adding two proteins to our vaccine regimen.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">SBIR Grant No. 1R43AI120887-01/02. In June 2015, NIAID awarded us an SBIR grant entitled &ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Directed Lineage Immunizations for Eliciting Broadly Neutralizing Antibody</i>.&rdquo; The initial grant award was $299,585 for the first year of a two-year project period beginning July 1, 2015. In June 2016, NIAID awarded us $294,038 for the second year of the project period to develop a clade C HIV vaccine. Clade C is the most prevalent subtype of HIV in eastern South American, sub-Saharan Africa and India</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Clinical Trial Support</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. All our human clinical trials to date for our preventive HIV vaccines, including the recently initiated HVTN 114 trial, have been conducted by the HVTN and funded by NIAID. This financial support has been provided by NIAID directly to the HVTN, so has not been recognized in our financial statements, and we do not know the cost of these trials.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Other Federal Support</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. We have been the recipient of additional in-kind federal support through collaborative and intramural arrangements with CDC for our Zika vaccine program, the Rocky Mountain Laboratory facility of NIAID for our hemorrhagic fever virus vaccine program, and the United States Army Medical Research Institute of Infectious Diseases (USAMRIID) for our hemorrhagic fever virus vaccine program. This support generally has been for the conduct or support of preclinical animal studies on our behalf.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Government </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Regulations</b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Regulation by governmental authorities in the United States and other countries is a significant factor in our ongoing research and development activities and in the manufacture of our products. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Complying with these regulations involves considerable expertise, time and expense.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In the United States, drugs<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> and biologics are subject to rigorous federal and state regulation. Our products are regulated under the Federal Food, Drug and Cosmetic Act, the Public Health Service Act, and the regulations promulgated under these statutes, and other federal and state statutes and regulations. These laws govern, among other things, the testing, manufacture, safety, efficacy, labeling, storage, record keeping, approval, advertising and promotion of medications and medical devices. Product development and approval within this regulatory framework is difficult to predict, takes several years and involves great expense. The steps required before a human vaccine may be marketed in the United States include:</font></p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:25.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Manufacturing and testing of the product under strict compliance with current Good Manufacturing Practice (cGMP) regulations;</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: left; font-size: 10pt;">&#9679;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:25.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Submission to the FDA of an Investigational New Drug application for human clinical testing which must become effective before human clinical trials can commence;</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: left; font-size: 10pt;">&#9679;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:25.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Adequate and well-controlled human clinical trials to establish the safety and efficacy of the product;</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: left; font-size: 10pt;">&#9679;</p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:25.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">T<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">he submission of a Biologics License Application to the FDA, along with the required user fees; and</font></p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: left; font-size: 10pt;">&#9679;</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:25.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">FDA approval of the <font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">BLA prior to any commercial sale or shipment of the product</font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Before marketing any drug or biologic for human use in the U<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">nited States, the product sponsor must obtain FDA approval. In addition, each manufacturing establishment must be registered with the FDA and must pass a pre-approval inspection before introducing any new drug or biologic into commercial distribution. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Because GeoVax does not manufacture vaccines for human use within our own facilities, we must ensure compliance both in our own operations and in the outsourced manufacturing operations. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> All FDA-regulated manufacturing establishments (both domestic establishments and foreign establishments that export products to the United States) are subject to inspections by the FDA and must comply with the FDA&rsquo;s cGMP regulations for products, drugs and devices.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">FDA determines compliance with applicable statutes and regulations through documentation review, investigations, and inspections. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Several enforcement mechanisms are available to FDA, ranging from a simple demand to correct a minor deficiency to mandatory recalls, closure of facilities, and even criminal charges for the most serious violations.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Even if FDA regulatory clearances are obtained, a marketed product is subject to continual review, and later discovery of previously unknown problems or failure to comply with the applicable regulatory requirements may result in restrictions on the marketing of a product or withdrawal of the product from the market as well as possible civil or criminal sanctions<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Whether or not the FDA has approved the drug, approval of a product by regulatory authorities in foreign countries must be obtained prior to the commencement of commercial sales of the drug in such countries. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The requirements governing the conduct of clinical trials and drug approvals vary widely from country to country, and the time required for approval may be longer or shorter than that required for FDA approval.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We also are subject to various federal, state and local laws, regulations, and recommendations relating to safe working conditions, laboratory and manufacturing practices, the experimental use of animals, and the use and disposal of hazardous or potentially hazardous substances<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> used in connection with our research. The extent of government regulation that might result from any future legislation or administrative action cannot be accurately predicted.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Manufacturing</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We do not have the facilities or expertise to manufacture any of the clinical or commercial supplies of any of our products. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> To be successful, our products must be manufactured in commercial quantities in compliance with regulatory requirements and at an acceptable cost. To date, we have not commercialized any products, nor have we demonstrated that we can manufacture commercial quantities of our product candidates in accordance with regulatory requirements. If we cannot manufacture products in suitable quantities and in accordance with regulatory standards, either on our own or through contracts with third parties, it may delay clinical trials, regulatory approvals and marketing efforts for such products. Such delays could adversely affect our competitive position and our chances of achieving profitability. We cannot be sure that we can manufacture, either on our own or through contracts with third parties, such products at a cost or in quantities that are commercially viable.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We currently rely and intend to continue to rely on third-party contract manufacturers to produce vaccines needed for research and clinical trials. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We have arrangements with third party manufacturers for the supply of our DNA and MVA vaccines for use in our planned clinical trials. These suppliers operate under the FDA&rsquo;s Good Manufacturing Practices and (in the case of European manufacturers) similar regulations of the European Medicines Agency. We anticipate that these suppliers will be able to provide sufficient vaccine supplies to complete our currently planned clinical trials. Various contractors are generally available in the United States and Europe for manufacture of vaccines for clinical trial evaluation, however, it may be difficult to replace existing contractors for certain manufacturing and testing activities and costs for contracted services may increase substantially if we switch to other contractors. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Competition</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The biotechnology and pharmaceutical industries are highly competitive. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> There are many pharmaceutical companies, biotechnology companies, public and private universities and research organizations actively engaged in the research and development of products that may be competitive with our products. There are several multinational pharmaceutical companies and large biotechnology companies currently marketing or pursuing the development of products or product candidates targeting the same indications as our product candidates. The number of companies seeking to develop products and therapies for the treatment of unmet needs in these indications is likely to increase. Some of these competitive products and therapies are based on scientific approaches that are similar to our approaches, and others are based on entirely different approaches.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Many of our competitors, either alone or with their strategic partners, have substantially greater financial, technical and human resources than we do and significantly greater experience in the discovery and development of product candidates, obtaining FDA and other regulatory approvals of products and the commercialization of those products. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Our competitors&rsquo; products may be more effective, or more effectively marketed and sold, than any drug we may commercialize and may render our product candidates obsolete or non-competitive. We anticipate that we will face intense and increasing competition as new drugs enter the market and advanced technologies become available. We expect any products that we develop and commercialize to compete based on, among other things, efficacy, safety, convenience of administration and delivery, price, the level of generic competition and the availability of reimbursement from government and other third-party payers.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There are currently no FDA licensed and commercialized HIV vaccines, Zika vaccines, <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">or hemorrhagic fever virus vaccines available in the world market. We are aware of several development-stage and established enterprises, including major pharmaceutical and biotechnology firms, which are actively engaged in vaccine research and development in these areas. For hemorrhagic fever viruses, these include NewLink Genetics and Merck, Johnson &amp; Johnson, Novavax, Profectus Biosciences, Protein Sciences, Inovio and GlaxoSmithKline. For HIV, these include Sanofi, GlaxoSmithKline, and Johnson &amp; Johnson. Other HIV vaccines are in varying stages of research, testing and clinical trials including those supported by the NIH Vaccine Research Center, the U.S. Military, IAVI, the European Vaccine Initiative, and the South African AIDS Vaccine Initiative. For Zika, these include NewLink Genetics, Inovio, Merck, Butantan Institute and NIH (NIAID).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There are numerous FDA-approved treatments for HIV, primarily antiretroviral therapies, marketed by large pharmaceutical companies. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Currently, there are no approved therapies for the eradication of HIV. We expect that major pharmaceutical companies that currently market antiretroviral therapy products or other companies that are developing HIV product candidates may seek to develop products for the eradication of HIV.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There are currently no commercialized vaccines to treat chronic HBV infection. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Multiple vaccines exist to protect against HBV infection, but they cannot help patients already diagnosed with the disease. Although chronic HBV can be treated with drugs, the treatments do not cure 95% of patients; they cannot induce strong neutralizing antibodies and cellular responses needed to break tolerance to HBV antigens and clear infections, but only suppress the replication of the virus. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There are currently no commercialized vaccines to prevent malaria infection<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. A first generation infection-blocking malaria vaccine, RTS,S, is under regulatory review. It requires 4 doses and has been recommended by the WHO for pilot implementation studies. Since this vaccine is based on a single antigen and has modest efficacy (30-40%, depending on the age of subjects), the WHO has defined a Road Map for developing and licensing of next generation malaria vaccines. These vaccines are expected to contain multiple antigens designed to block both infection and transmission of malaria with at least a 75% efficacy rate.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">A number of companies are developing various types of therapeutic vaccines or other immunotherapy approaches to treat cancer including Advaxis, Immune Design, Oncothyreon, Bavarian Nordic, Roche Pharmaceuticals, Merck<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&amp; Co, Bristol Myers Squibb, AstraZeneca plc, and Medimmune, LLC. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Our Intellectual Property</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We will be able to protect our proprietary rights from unauthorized use by third parties only to the extent that our proprietary rights are described by valid and enforceable patents or are effectively maintained as trade secrets. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Accordingly, we are pursuing and will continue to pursue patent protection for our proprietary technologies obtained or developed through our collaborations or developed by us alone. Our patent portfolio includes applications directed to DNA and MVA based HIV vaccines, their genetic inserts expressing multiple HIV protein components, composition, structure, claim of immunization against multiple subtypes of HIV, routes of administration, safety and other related factors and methods of therapeutic and prophylactic use thereof including administration regimes. Also included are applications directed to preventive vaccines against hemorrhagic fever viruses (Ebola, Sudan, Marburg and Lassa), Zika virus and malaria, and use thereof; immuno-oncology vaccine compositions and methods of use thereof; and therapeutic vaccines against HBV and use thereof. We are the licensee of at least nine issued or allowed U.S. patents and at least twenty-three issued or allowed non-U.S. patents. We are actively pursuing two U.S. provisional applications, two non-U.S. and two international patent applications as the owner of record, in addition to at least two non-U.S. patent applications under license. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We are the exclusive, worldwide licensee of several patents and patent applications, which we refer to as the Emory Technology, owned, licensed or otherwise controlled by Emory University for HIV or smallpox vaccines pursuant to a license agreement originally entered into on August<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;23, 2002 and restated on June&nbsp;23, 2004 (the &ldquo;Emory License&rdquo;). Through the Emory License we are also a non-exclusive licensee of four issued United States patents owned by the NIH related to the ability of our MVA vector vaccine to operate as a vehicle to deliver HIV virus antigens, and to induce an immune response in humans. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We are not a party to any litigation, opposition, interference, or other potentially adverse proceeding with regard to our patent positions. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> However, if we become involved in litigation, interference proceedings, oppositions or other intellectual property proceedings, for example as a result of an alleged infringement or a third-party alleging an earlier date of invention, we may have to spend significant amounts of money and time and, in the event of an adverse ruling, we could be subject to liability for damages, invalidation of our intellectual property and injunctive relief that could prevent us from using technologies or developing products, any of which could have a significant adverse effect on our business, financial conditions or results of operations. In addition, any claims relating to the infringement of third-party proprietary rights, or earlier date of invention, even if not meritorious, could result in costly litigation, lengthy governmental proceedings, divert management&rsquo;s attention and resources and require us to enter royalty or license agreements which are not advantageous if available at all.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In addition to patent protection, we also attempt to protect our proprietary products, processes and other information by relying on trade secrets and non-disclosure agreements with our employees, consultants and certain other persons who have access to such products, processes and information. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Under these agreements, all inventions conceived by employees are our exclusive property. Nevertheless, there can be no assurance that these agreements will afford significant protection against misappropriation or unauthorized disclosure of our trade secrets and confidential information.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We cannot be certain that any of the current pending patent applications we have licensed, or any new patent applications we may file or license, will ever be issued in the United States or any other country. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Even if issued, there can be no assurance that those patents will be sufficiently broad to prevent others from using our products or processes. Furthermore, our patents, as well as those we have licensed or may license in the future, may be held invalid or unenforceable by a court, or third parties could obtain patents that we would need to either license or to design around, which we may be unable to do. Current and future competitors may have licensed or filed patent applications or received patents and may acquire additional patents or proprietary rights relating to products or processes competitive to ours. In addition, any claims relating to the infringement of third-party proprietary rights, or earlier date of invention, even if not meritorious, could result in costly litigation, lengthy governmental proceedings, divert management&rsquo;s attention and resources and require us to enter royalty or license agreements which are not advantageous to us, if available at all.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Research and Development</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our expenditures for research and development activities were <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">$2,017,350, $1,970,859, and $1,693,102 during the years ended December 31, 2017, 2016 and 2015, respectively. As our vaccines continue to go through the process to obtain regulatory approval, we expect our research and development costs to increase. We have not yet formulated any plans for marketing and sales of any vaccine candidate we may successfully develop. Compliance with environmental protection laws and regulations has not had a material effect on our capital expenditures, earnings or competitive position to date.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Scientific Advisors</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We seek advice from our Scientific Advisory Board, which consists of a number of leading scientists, on scientific and medical matters. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The current members of our Scientific Advisory Board are:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 30%; border-bottom: thin solid rgb(0, 0, 0);">Name</td>
			<td style="width: 4%;">&nbsp;</td>
			<td style="width: 66%; border-bottom: thin solid rgb(0, 0, 0);"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Position/Institutional Affiliation</font></td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%;">Thomas P. Monath, MD</td>
			<td style="width: 4%;">&nbsp;</td>
			<td style="width: 66%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Managing Partner&nbsp;and Chief Scientific Officer at Crozet Biopharma</font></td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 30%;">Stanley A. Plotkin, MD</td>
			<td style="width: 4%;">&nbsp;</td>
			<td style="width: 66%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Professor Emeritus, University of Pennsylvania Adjunct Professor, Johns Hopkins University</font></td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%;">Barney S. Graham, MD, PhD</td>
			<td style="width: 4%;">&nbsp;</td>
			<td style="width: 66%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Senior Investigator, Vaccine Research Center, NIAID</font></td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 30%;">Scott C. Weaver, PhD</td>
			<td style="width: 4%;">&nbsp;</td>
			<td style="width: 66%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Director, University of Texas Medical Branch Institute for Human Infections and Immunity Scientific Director, Galveston National Laboratory</font></td>
		</tr>
		<tr style="background-color: rgb(204, 238, 255);">
			<td style="width: 30%;">Olivera J. Finn, PhD</td>
			<td style="width: 4%;">&nbsp;</td>
			<td style="width: 66%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Distinguished Professor of Immunology and Surgery, University of Pittsburgh</font></td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Properties and Employees</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We lease approximately 8,400 square feet of office and laboratory space located at 1900 Lake Park Drive, Suite 380, Smyrna, Georgia under a lease agreement which <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">expires on December 31, 2018. We believe this space is adequate for our current needs and we expect to renew the lease on a short-term basis. We may experience an adverse impact on our business if we are unable to access suitable facilities for our offices and laboratories. As of March 20, 2018, we had seven full-time and two part-time employees. None of our employees are covered by collective bargaining agreements and we believe that our employee relations are good. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Corporate Background</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our primary business is conducted by our <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">wholly-owned subsidiary, GeoVax, Inc., which was incorporated under the laws of Georgia in June 2001. The predecessor of our parent company, GeoVax Labs, Inc. (the reporting entity) was originally incorporated in June 1988 under the laws of Illinois as Dauphin Technology, Inc. (&ldquo;Dauphin&rdquo;). In September 2006, Dauphin completed a merger with GeoVax, Inc. As a result of the merger, GeoVax, Inc. became a wholly-owned subsidiary of Dauphin, and Dauphin changed its name to GeoVax Labs, Inc. In June 2008, the Company was reincorporated under the laws of Delaware. We currently do not conduct any business other than GeoVax, Inc.&rsquo;s business of developing new products for the treatment or prevention of human diseases. Our principal offices are in Smyrna, Georgia (metropolitan Atlanta).&nbsp;</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Available Information</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our website address is www.geovax.com. We make available on this website under &ldquo;Investors <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&ndash; SEC Reports,&rdquo; free of charge, our proxy statements, annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports as soon as reasonably practicable after we electronically file or furnish such materials to the SEC. We also make available our Code of Ethics on this website under the heading &ldquo;Investors &ndash; Corporate Governance&rdquo;. Information contained on our website is not incorporated into this Annual Report. &nbsp;</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>ITEM</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> 1A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b><u>RISK FACTORS</u></b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Investing in our securities involves a high degree of risk. You should carefully review and consider the risks, uncertainties and other factors described below before you decide whether to purchase our securities. Any of these factors could materially and adversely affect our business, financial condition, operating results and prospects and could negatively impact the market price of our common stock, and you may lose some or all of your investment. The risks and uncertainties described below are not the only ones facing our Company. Additional risks and uncertainties that we are unaware of, or that we currently deem immaterial, may also impair our business operations. You should also refer to the information contained in this </i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Form 10-K</i><i>, including our financial statem</i><i>ents and the related notes.</i></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Risks Related to Our Business </b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We have a history of operating losses, and we expect losses to continue for the foreseeable future.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have had no product revenue to date and there can be no assurance that we will ever generate any product revenue. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We have experienced operating losses since we began operations in 2001. As of December 31, 2017, we had an accumulated deficit of approximately $37.9 million. We expect to incur additional operating losses and expect cumulative losses to increase as our research and development, pre-clinical, clinical, manufacturing and marketing efforts expand. Our ability to generate revenue and achieve profitability depends on our ability to successfully complete the development of our product candidates, conduct pre-clinical tests and clinical trials, obtain the necessary regulatory approvals, and manufacture and market the resulting products. Unless we are able to successfully meet these challenges, we will not be profitable and may not remain in business.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We have received a going concern opinion fro</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><i>m</i></b><b><i> our auditors.</i></b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have received a &quot;going concern&quot; opinion from our independent registered public accounting firm, reflecting substantial doubt about our ability to continue as a going concern. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Our consolidated financial statements contemplate that we will continue as a going concern and do not contain any adjustments that might result if we were unable to continue as a going concern. Our ability to continue as a going concern is dependent upon our ability to raise additional capital and implement our business plan. If we are unable to achieve or sustain profitability or to secure additional financing on acceptable terms, we may not be able to meet our obligations as they come due, raising substantial doubts as to our ability to continue as a going concern. Any such inability to continue as a going concern may result in our stockholders losing their entire investment. There is no guarantee that we will become profitable or secure additional financing on acceptable terms.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our business will require continued funding. </i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><i> </i></b><b><i>If we do not receive adequate funding, we will not be able to continue our operations.</i></b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">To date, we have financed our operations principally through the sale of our equity securities and through <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">NIAID grants and clinical trial support. We will require substantial additional financing at various intervals for our operations, including clinical trials, operating expenses, intellectual property protection and enforcement, for pursuit of regulatory approvals, and for establishing or contracting out manufacturing, marketing and sales functions. There is no assurance that such additional funding will be available on terms acceptable to us or at all. If we are not able to secure the significant funding that is required to maintain and continue our operations at current levels, or at levels that may be required in the future, we may be required to delay clinical studies or clinical trials, curtail operations, or obtain funds through collaborative arrangements that may require us to relinquish rights to some of our products or potential markets.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The costs of conducting all of our human clinical trials to date for our preventive HIV vaccine have been borne by the HIV Vaccine Trials Network (HVTN), with funding by <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">NIAID, and we expect NIAID support for additional clinical trials. GeoVax incurs costs associated with manufacturing the clinical vaccine supplies and other study support. We cannot predict the level of support we will receive from the HVTN or NIAID for any additional clinical trials of our HIV vaccines. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our operations are also partially supported by the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">NIAID grants awarded to us to support our HIV and Zika vaccine programs. As of December 31, 2017, there was $481,695 of unused grant funds remaining and available for use during 2018. We are pursuing additional support from the federal government for our vaccine programs. However, as we progress to the later stages of our vaccine development activities, government financial support may be more difficult to obtain, or may not be available at all. Furthermore, there is some risk that actual funding for grants could be delayed, cut back, or eliminated due to government budget constraints. Therefore, it will be necessary for us to look to other sources of funding to finance our development activities. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We expect that our current working capital, <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">combined with proceeds from the grants awarded to us from NIAID will be sufficient to support our planned level of operations into the third quarter of 2018. We will need to raise additional funds to significantly advance our vaccine development programs and to continue our operations. In order to meet our operating cash flow needs we plan to seek sources of non-dilutive capital through government grant programs and clinical trial support. We may also plan additional offerings of our equity securities, debt, or convertible debt instruments. Should the financing we require to sustain our working capital needs be unavailable or prohibitively expensive when we require it, the consequences could have a material adverse effect on our business, operating results, financial condition and prospects.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Risks Related to Development and Commercialization of Product Candidates and Dependence on Third Parties</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our products are still being developed and are unproven. These products may not be successful.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">To become profitable, we must generate revenue through sales of our products. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> However, our products are in varying stages of development and testing. Our products have not been proven in human clinical trials and have not been approved by any government agency for sale. If we cannot successfully develop and prove our products and processes, or if we do not develop other sources of revenue, we will not become profitable and at some point we would discontinue operations.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Whether we are successful will be dependent, in part, upon the leadership provided by our management. If we were to lose the services of any of these individuals, our business and operations may be adversely affected.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Whether our business will be successful will be dependent, in part, upon the leadership provided by our officers, particularly our President and Chief Executive Officer and our Chief Scientific Officer. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The loss of the services of these individuals may have an adverse effect on our operations. Further, our employees, including our executive officers and directors, are not subject to any covenants not to compete against the Company, and our business could be adversely affected if any of our employees or directors engaged in an enterprise competitive with the Company.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>&nbsp;</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Regulatory and legal uncertainties could result in significant costs or otherwise harm our business.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">To manufacture and sell our products, we must comply with extensive domesti<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">c and international regulation. In order to sell our products in the United States, approval from the FDA is required. Satisfaction of regulatory requirements, including FDA requirements, typically takes many years, and if approval is obtained at all, it is dependent upon the type, complexity and novelty of the product, and requires the expenditure of substantial resources. We cannot predict whether our products will be approved by the FDA. Even if they are approved, we cannot predict the time frame for approval. Foreign regulatory requirements differ from jurisdiction to jurisdiction and may, in some cases, be more stringent or difficult to meet than FDA requirements. As with the FDA, we cannot predict if or when we may obtain these regulatory approvals. If we cannot demonstrate that our products can be used safely and successfully in a broad segment of the patient population on a long-term basis, our products would likely be denied approval by the FDA and the regulatory agencies of foreign governments.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We face intense competition and rapid technological change that could result in products that are superior to the products we will be commercializing or developing.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The market for vaccines that protect against or treat human infectious diseases is intensely competitive and is subject to rapid and significant technological change. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We have numerous competitors in the United States and abroad, including, among others, large companies with substantially greater resources than us. If any of our competitors develop products with efficacy or safety profiles significantly better than our products, we may not be able to commercialize our products, and sales of any of our commercialized products could be harmed. Some of our competitors and potential competitors have substantially greater product development capabilities and financial, scientific, marketing and human resources than we do. Competitors may develop products earlier, obtain FDA approvals for products more rapidly, or develop products that are more effective than those under development by us. We will seek to expand our technological capabilities to remain competitive; however, research and development by others may render our technologies or products obsolete or noncompetitive, or result in treatments or cures superior to ours.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our product candidates are based on new medical technology and, consequently, are inherently risky. </i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><i> </i></b><b><i>Concerns about the safety and efficacy of our products could limit our future success.</i></b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We are subject to the risks of failure inherent in the development of product candidates based on new medical technologies. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> These risks include the possibility that the products we create will not be effective, that our product candidates will be unsafe or otherwise fail to receive the necessary regulatory approvals, and that our product candidates will be hard to manufacture on a large scale or will be uneconomical to market.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Many pharmaceutical products cause multiple potential complications and side effects, not all of which can be predicted with accuracy and many of which may vary from patient to patient. Long term follow-up data may reveal <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">previously unidentified complications associated with our products. The responses of potential physicians and others to information about complications could materially affect the market acceptance of our products, which in turn would materially harm our business.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We may experience delays in our clinical trials that could adversely affect our financial results and our commercial prospects.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We do not know whether planned clinical trials will begin on time or whether we will complete any of our clinical trials on schedule, if at all. Product development costs will increase if we have delays in testing or approvals or if we need to perform more or larger clinical trials than planned. Significant delays may adversely affect our financial results and the commercial prospects for our <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">products and delay our ability to become profitable.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We rely heavily <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">on the HVTN, independent clinical investigators, vaccine manufacturers, and other third-party service providers for successful execution of our clinical trials, but do not control many aspects of their activities. We are responsible for ensuring that each of our clinical trials is conducted in accordance with the general investigational plan and protocols for the trial. Moreover, the FDA requires us to comply with standards, commonly referred to as Good Clinical Practices, for conducting, recording, and reporting the results of clinical trials to assure that data and reported results are credible and accurate and that the rights, integrity and confidentiality of trial participants are protected. Our reliance on third parties that we do not control does not relieve us of these responsibilities and requirements. Third parties may not complete activities on schedule or may not conduct our clinical trials in accordance with regulatory requirements or our stated protocols. The failure of these third parties to carry out their obligations could delay or prevent the development, approval and commercialization of our product candidates. There is also a risk of changes in clinical trial strategy and timelines due to the HVTN and NIAID altering their trial strategy. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Failure to obtain timely regulatory approvals required to exploit the commercial potential of our products could increase our future development costs or impair our future sales.</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">None of our vaccines are approved by the FDA for sale in the United States or by other regulatory authorities for sale in foreign countries. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> To exploit the commercial potential of our technologies, we are conducting and planning to conduct additional pre-clinical studies and clinical trials. This process is expensive and can require a significant amount of time. Failure can occur at any stage of testing, even if the results are favorable. Failure to adequately demonstrate safety and efficacy in clinical trials could delay or preclude regulatory approval and restrict our ability to commercialize our technology or products. Any such failure may severely harm our business. In addition, any approvals we obtain may not cover all of the clinical indications for which approval is sought or may contain significant limitations in the form of narrow indications, warnings, precautions or contraindications with respect to conditions of use, or in the form of onerous risk management plans, restrictions on distribution, or post-approval study requirements.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>State pharmaceutical marketing compliance and reporting requirements may expose us to regulatory and legal action by state governments or other government authorities.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Several states have enacted legislation requiring pharmaceutical companies to establish marketing compliance programs and file periodic reports on sales, marketing, pricing and other activities. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Similar legislation is being considered in other states. Many of these requirements are new and uncertain, and available guidance is limited. Unless we are in full compliance with these laws, we could face enforcement action, fines, and other penalties and could receive adverse publicity, all of which could harm our business.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Changes in healthcare law and implementing regulations, as well as changes in healthcare policy, may impact our business in ways that we cannot currently predict, and may have a significant adverse effect on our business and results of operations. </i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In the United States and some foreign jurisdictions, there have been, and continue to be, several legislative and regulatory changes and proposed changes regarding the healthcare system that could prevent or delay marketing approval of product candidates, restrict or regulate post-approval activities, and affect our ability to profitably sell any product candidates for which we obtain marketing approval. Among policy makers and payors in the United States and elsewhere, including in the European Union, there is significant interest in promoting changes in healthcare systems with the stated goals of containing healthcare costs, improving quality and/or expanding access. In the United States, the pharmaceutical industry has been a particular focus of these efforts and has been significantly affected by major legislative initiatives.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010, or collectively the Affordable Care Act, substantially changed the way healthcare is financed by both the government and private insurers, and significantly impacts the U.S. pharmaceutical industry. The Affordable Care Act, <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">includes a number of provisions that are intended to lower healthcare costs, including prescription drug prices and government spending on medical products. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Since its enactment, there have<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> also been judicial and Congressional challenges to certain aspects of the Affordable Care Act, as well as recent efforts by the Trump administration to repeal or replace certain aspects of the statute. We continue to evaluate the effect that the Affordable Care Act and subsequent changes to the statute has on our business. It is uncertain the extent to which any such changes may impact our business or financial condition. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">T<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">here has also been heightened governmental scrutiny recently over the manner in which drug manufacturers set prices for their marketed products. There have been several Congressional inquiries and proposed bills, as well as state efforts, designed to, among other things, bring more transparency to product pricing, review the relationship between pricing and manufacturer patient programs, and reform government program reimbursement methodologies for drug products. In June 2017, FDA issued a Drug Competition Action plan intended to lower prescription drug prices by encouraging competition from generic versions of existing products. The Agency announced that it will issue a similar plan intended to promote competition to prescription biologics from biosimilars later this year.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Individual states in the United States have <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">also become increasingly aggressive in passing legislation and implementing regulations designed to control pharmaceutical and biological product pricing, including price or patient reimbursement constraints, discounts, restrictions on certain product access and marketing cost disclosure and transparency measures. For example, in September 2017, the California State Assembly approved SB17, which requires pharmaceutical companies to notify health insurers and government health plans at least 60 days before any scheduled increases in the prices of their products if they exceed 16% over a two-year period, and further requiring pharmaceutical companies to explain the reasons for such increase. Effective in 2016, Vermont passed a law requiring certain manufacturer identified by the state to justify their price increases. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We expect that these and other healthcare reform measures that may be adopted in the future, may result in more rigorous coverage criteria and lower reimbursement, and in additional downward pressure on the price that we receive for any approved product. Any reduction in reimbursement from Medicare or other government-funded programs may result in a similar reduction in payments from private payors. The implementation of cost containment measures or other healthcare reforms may prevent us from being able to generate revenue, attain profitability or commercialize our drugs, once marketing approval is obtained.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We may not be successful in establishing collaborations for product candidates we seek to commercialize, which could adversely affect our ability to discover, develop, and commercialize products.</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We expect to seek collaborations for the development and commercialization of product candidates in the future. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The timing and terms of any collaboration will depend on the evaluation by prospective collaborators of the clinical trial results and other aspects of our vaccine&rsquo;s safety and efficacy profile. If we are unable to reach agreements with suitable collaborators for any product candidate, we will be forced to fund the entire development and commercialization of such product candidates, ourselves, and we may not have the resources to do so. If resource constraints require us to enter into a collaboration agreement early in the development of a product candidate, we may be forced to accept a more limited share of any revenues this product may eventually generate. We face significant competition in seeking appropriate collaborators. Moreover, these collaboration arrangements are complex and time-consuming to negotiate and document. We may not be successful in our efforts to establish collaborations or other alternative arrangements for any product candidate. Even if we are successful in establishing collaborations, we may not be able to ensure fulfillment by collaborators of their obligations or our expectations.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We do not have manufacturing, sales or marketing experience.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We do not have experience in manufacturing, selling, or marketing vaccines. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> To obtain the expertise necessary to successfully manufacture, market, and sell our vaccines, we will require the development of our own commercial infrastructure and/or collaborative commercial arrangements and partnerships. Our ability to execute our current operating plan is dependent on numerous factors, including, the performance of third party collaborators with whom we may contract. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our vaccines under development may not gain market acceptance.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our vaccines may not gain market acceptance among physicians, patients, healthcare payers and the medical community. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Significant factors in determining whether we will be able to compete successfully include:</font></p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:43.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">the efficacy and safety of our vaccines<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">;</font></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:43.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">the time and scope of regulatory approval<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">;</font></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:43.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">reimbursement coverage from insurance companies and others<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">;</font></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:43.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">the price and cost<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">-effectiveness of our products; and</font></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:43.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">the ability to maintain patent protection.</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We may be required to defend lawsuits or pay damages for product liability claims.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Product liability is a major risk in testing and marketing biotechnology and pharmaceutical products. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We may face substantial product liability exposure in human clinical trials and for products that we sell after regulatory approval. We carry product liability insurance and we expect to continue such policies. However, product liability claims, regardless of their merits, could exceed policy limits, divert management&rsquo;s attention, and adversely affect our reputation and the demand for our products.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Reimbursement decisions by third-party payors may have an adverse effect on pricing and market acceptance. </i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><i> </i></b><b><i>If there is not sufficient reimbursement for our vaccines, it is less likely that they will be widely used.</i></b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Market acceptance of vaccines we develop, if approved, will depend on reimbursement policies and may be affected by, among other things, future healthcare reform measures. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Government authorities and third-party payors, such as private health insurers and health maintenance organizations, decide which drugs they will cover and establish payment levels. We cannot be certain that reimbursement will be available for or any vaccines that we may develop. Also, we cannot be certain that reimbursement policies will not reduce the demand for, or the price paid for our vaccines. If reimbursement is not available or is available on a limited basis, we may not be able to successfully commercialize vaccines that we develop.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Risks Related to Our Intellectual Property</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We could lose our license rights to our important intellectual property if we do not fulfill our contractual obligations to our licensors.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our rights to significant parts of the technology we use in our vaccines are licensed from third parties and are subject to termination if we do not fulfill our contractual obligations to our licensors. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Termination of intellectual property rights under any of our license agreements could adversely impact our ability to produce or protect our vaccines. Our obligations under our license agreements include requirements that we make milestone payments to our licensors upon the achievement of clinical development and regulatory approval milestones, royalties as we sell commercial products, and reimbursement of patent filing and maintenance expenses. Should we become bankrupt or otherwise unable to fulfill our contractual obligations, our licensors could terminate our rights to critical technology that we rely upon.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Other parties may claim that we infringe their intellectual property or proprietary rights, which could cause us to incur significant expenses or prevent us from selling products.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our success will depend in part on our ability to operate without infringing the patents and proprietary rights of third parties. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The manufacture, use and sale of new products have been subject to substantial patent rights litigation in the pharmaceutical industry. These lawsuits generally relate to the validity and infringement of patents or proprietary rights of third parties. Infringement litigation is prevalent with respect to generic versions of products for which the patent covering the brand name product is expiring, particularly since many companies that market generic products focus their development efforts on products with expiring patents. Pharmaceutical companies, biotechnology companies, universities, research institutions or other third parties may have filed patent applications or may have been granted patents that cover aspects of our products or our licensors&rsquo; products, product candidates or other technologies.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Future or existing patents issued to third parties may contain patent claims that conflict with our products. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We expect to be subject to infringement claims from time to time in the ordinary course of business, and third parties could assert infringement claims against us in the future with respect to our current products or with respect to products that we may develop or license. Litigation or interference proceedings could force us to:</font></p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:43.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">stop or delay selling, manufacturing or using products that incorporate, or are made using the challenged intellectual property<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">;</font></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:43.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">pay damages; or</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:43.2pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">enter into licensing or royalty agreements that may not be available on acceptable terms, if at all.</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Any litigation or interference proceedings, regardless of their outcome, would likely delay the regulatory approval process, be costly and require significant time and attention of our key management and technical personnel.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Any inability to protect intellectual property rights in the United States and foreign countries could limit our ability to manufacture or sell products.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We will rely on trade secrets, unpatented proprietary know-how, continuing technological innovation and, in some cases, patent protection to preserve our competitive position. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Our patents and licensed patent rights may be challenged, invalidated, infringed or circumvented, and the rights granted in those patents may not provide proprietary protection or competitive advantages to us. We and our licensors may not be able to develop patentable products. Even if patent claims are allowed, the claims may not issue, or in the event of issuance, may not be sufficient to protect the technology owned by or licensed to us. If patents containing competitive or conflicting claims are issued to third parties, we may be prevented from commercializing the products covered by such patents, or may be required to obtain or develop alternate technology. In addition, other parties may duplicate, design around or independently develop similar or alternative technologies.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We may not be able to prevent third parties from infringing or using our intellectual property, and the parties from whom we may license intellectual property may not be able to prevent third parties from infringing or using the licensed intellectual property. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We generally will attempt to control and limit access to, and the distribution of, our product documentation and other proprietary information. Despite efforts to protect this proprietary information, unauthorized parties may obtain and use information that we may regard as proprietary. Other parties may independently develop similar know-how or may even obtain access to these technologies.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The laws of some foreign countries do not protect proprietary information to the same extent as the laws of the United States, and many companies have encountered significant problems and costs in protecting their proprietary information in these foreign countries.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Neither the U.S.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;Patent and Trademark Office nor the courts have established a consistent policy regarding the breadth of claims allowed in pharmaceutical patents. The allowance of broader claims may increase the incidence and cost of patent interference proceedings and the risk of infringement litigation. On the other hand, the allowance of narrower claims may limit the value of our proprietary rights.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Risks Related To Our </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Common Stock</b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>The market price of our common stock is highly volatile.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The market price of our common stock has been, and is expected to continue to be, highly volatile. Certain factors, including announcements of new developments by us or other companies, regulatory matters, new or existing medicines or procedures, concerns about our financial position, operating results, litigation, government regulation, developments or disputes relating to agreements, patents or proprietary rights, may have a significant impact on the market price of our stock. In addition, potential dilutive effects of future sales of shares of common stock by us, and subsequent sales of common stock by the holders of warrants and options could have an adverse effect on the market price of our shares.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our common stock does not have a vigorous trading market and investors may not be able to sell their securities when desired.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have a limited active public market for our common shares. A more active public market, allowing investors to buy and sell large quantities of our common stock, may never develop. Consequently, investors may not be able to liquidate their investments in the event of an emergency or for any other reason.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We have never paid dividends and have no plans to do so.</i></b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Holders of shares of our common stock are entitled to receive such dividends as may be declared by our Board of Directors. To date, we have paid no cash dividends on our shares of common stock and we do not expect to pay cash dividends on our common stock in the foreseeable future. We intend to retain future earnings, if any, to provide funds for operations of our business. Therefore, any potential return investors may have in our common stock will be in the form of appreciation, if any, in the market value of their shares of common stock.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">18</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results or prevent fraud.</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We are subject to reporting obligations under the United States securities laws. The Secur<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ities and Exchange Commission (SEC) as required by the Sarbanes-Oxley Act of 2002, adopted rules requiring every public company to include a management report on such company&rsquo;s internal controls over financial reporting in its annual report. Effective internal controls are necessary for us to produce reliable financial reports and are important to help prevent fraud. As a result, our failure to achieve and maintain effective internal controls over financial reporting could result in the loss of investor confidence in the reliability of our financial statements, which in turn could negatively impact the trading price of our stock.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>If we fail to remain current in our reporting requirements, our securities could be removed from the OTC Market, which would limit the ability of broker-dealers to sell our securities and the ability of stockholders to sell their securities in the secondary market.</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">United States companies trading on the OTC Market must be reporting issuers under Section<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;12 of the Exchange Act, and must be current in their reports under Section&nbsp;13 of the Exchange Act. If we fail to remain current on our reporting requirements, we could be removed from the OTC Market. As a result, the market liquidity for our securities could be severely adversely affected by limiting the ability of broker-dealers to sell our securities and the ability of stockholders to sell their securities in the secondary market.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>We need additional capital, and the sale of additional shares or other equity securities could result in additional dilution to our stockholders.</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In order to meet our operating cash flow <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">needs we plan additional offerings of our equity securities, debt, or convertible debt instruments. The sale of additional equity securities could result in additional dilution to our stockholders. Certain equity securities, such as convertible preferred stock or warrants, may contain anti-dilution provisions which could result in the issuance of additional shares at lower prices if we sell other shares below specified prices. The incurrence of indebtedness would result in debt service obligations and could result in operating and financing covenants that would restrict our operations. We cannot assure investors that financing will be available in amounts or on terms acceptable to us, if at all.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>The</i></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><i> exercise of options or warrants or</i></b><b><i> </i></b><b><i>conversion of our Series B, </i></b><b><i>Series C</i></b><b><i>,</i></b><b><i> Series </i></b><b><i>D</i></b><b><i> or </i></b><b><i>Series E</i></b><b><i> Preferred Stock may depress our stock price and may result in significant dilution to our common stockholders.</i></b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There are a significant number of outstanding options and warrants to purchase our common stock and w<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">e have issued Series B, Series C, Series D and Series E Convertible Preferred Stock that is convertible into our common stock. If the market price of our common stock exceeds the conversion prices of the preferred shares, holders of those securities may be likely to convert their preferred shares and sell the common stock acquired upon conversion of such securities in the open market. Sales of a substantial number of shares of our common stock in the public market by holders of preferred shares may depress the prevailing market price for our common stock and could impair our ability to raise capital through the future sale of our equity securities. Additionally, if the holders of outstanding preferred shares convert those preferred shares, our common stockholders will incur dilution in their relative percentage ownership. The prospect of this possible dilution may also impact the price of our common stock. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Our common stock is and likely will remain subject to the SEC<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s &ldquo;penny stock&rdquo; rules, which make it more difficult to sell.</font></i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Our common stock is currently and may remain classified as a &ldquo;penny stock.&rdquo; The SEC rules regarding penny stocks may have the effect of reducing trading activity in our shares, making it more difficult for investors to sell. Under these rules, broker-dealers who recommend such securities to persons other than institutional accredited investors must:</p>

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			<td style="width:14pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>&bull;</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">make a special written suitability determination for the purchaser; </font></p>
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		<tr>
			<td style="width:14pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>&bull;</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">receive the purchaser&rsquo;s written agreement to a transaction prior to sale;</font></p>
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			<td style="width:14pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>&bull;</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">provide the purchaser with risk disclosure documents which identify certain risks associated with investing in &ldquo;penny stocks&rdquo; and which describe the market for these &ldquo;penny stocks&rdquo; as well as a purchaser&rsquo;s legal remedies;</font></p>
			</td>
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			<td style="width:14pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>&bull;</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">obtain a signed and dated acknowledgment from the purchaser demonstrating that the purchaser has received the required risk disclosure document before a transaction in a &ldquo;penny stock&rdquo; can be completed; and</font></p>
			</td>
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			<td style="width:14pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>&bull;</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">give bid and offer quotations and broker and salesperson compensation information to the customer orally or in writing before or with the confirmation.</font></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36.3pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-14.4pt;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">19</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">These rules make it more difficult for broker-dealers to effectuate customer transactions and trading activity in our securities and may result in a lower trading volume of our common stock and lower trading prices.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><i>Certain provisions of our certificate of incorporation which authorize the issuance of additional shares of preferred stock may make it more difficult for a third party to effect a change in control.</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our certificate of incorporation authorizes our Board of Directors to issue up to 10,<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">000,000 shares of preferred stock. We have issued, and there are outstanding, 100 shares of Series B Convertible Preferred Stock, 2,570 shares of our Series C Convertible Preferred Stock, 700 shares of our Series D Convertible Preferred Stock, and 600 shares of our Series E Convertible Preferred Stock. We believe the terms of these preferred shares would not have a substantial impact on the ability of a third party to effect a change in control. The remaining shares of preferred stock may be issued in one or more series, the terms of which may be determine at the time of issuance by our Board of Directors without further action by the stockholders. These terms may include voting rights including the right to vote as a series on particular matters, preferences as to dividends and liquidation, conversion rights, redemption rights and sinking fund provisions. The issuance of any preferred stock could diminish the rights of holders of our common stock, and therefore could reduce the value of our common stock. In addition, specific rights granted to future holders of preferred stock could be used to restrict our ability to merge with, or sell assets to, a third party. The ability of our Board of Directors to issue preferred stock could make it more difficult, delay, discourage, prevent or make it costlier to acquire or effect a change-in-control, which in turn could prevent the stockholders from recognizing a gain in the event that a favorable offer is extended and could materially and negatively affect the market price of our common stock.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> 1B. </b></font></p>
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			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><u>UNRESOLVED STAFF COMMENTS</u></b></font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">None</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<td style="width: 54pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>2. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><u>PROPERTIES</u></b></font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We lease approximately 8,400 square feet of office and laboratory space located at 1900 Lake Park Drive, Suite 380, Smyrna, Georgia under a lease agreement which <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">expires on December 31, 2018. We believe this space is adequate for our current needs.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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		<tr style="vertical-align: top;">
			<td style="width: 54pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>3. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><u>LEGAL PROCEEDINGS</u></b></font></p>
			</td>
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</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We are not currently a party to any material legal proceedings. We may from time to time become involved in various legal proceedings arising in the ordinary course of business.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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		<tr style="vertical-align: top;">
			<td style="width: 54pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>4. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b><u>MINE SAFETY DISCLOSURES</u></b><b> </b></font></p>
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</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Not applicable<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;&nbsp;</b></p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">20</div>

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<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>PART II</u></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><b>ITEM</b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"><b> 5.</b></font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"><b>MARKET FOR REGISTRANT&rsquo;S COMMON EQUITY,</b><b> </b><b>RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES</b></font></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Market Information</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our common stock is currently traded on the OTC<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">QB Market under the symbol &ldquo;GOVX&rdquo;. The following table sets forth the high and low bid prices for our common stock for the periods indicated. The prices represent quotations between dealers and do not include retail mark-up, markdown, or commission, and do not necessarily represent actual transactions. On March 20, 2018, the last reported sale price for our common stock as reported in the OTCQB Market was $0.04 per share.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">High</p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Low</p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><u>201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">8</font></u></p>
			</td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 63.8%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">First Quarter (th<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">rough March 20, 2018) </font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.06</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.04</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><u>201</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>7</u></font></p>
			</td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Fourth Quarter</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.10</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.03</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Third Quarter</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.04</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.03</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Second Quarter</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.07</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.03</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">First Quarter</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.07</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.04</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><u>201</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>6</u></font></p>
			</td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Fourth Quarter</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.08</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.05</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Third Quarter</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.11</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.07</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Second Quarter</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.09</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.06</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">First Quarter</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.14</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">0.05</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Holders</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On March <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">20, 2018, there were approximately 540 holders of record of our common stock. Because many of our shares of common stock are held by brokers and other institutions on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these record holders. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Dividends</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have not paid any dividends since our inception and do not contemplate paying dividends in the foreseeable future.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The certificates of designation for our outstanding preferred stock would prohibit the payment of dividends on our common stock if there were any dividends due but unpaid on our preferred stock. Any future determination as to the declaration and payment of dividends, if any, will be at the discretion of our Board of Directors and will depend on then existing conditions, including our financial condition, operating results, contractual restrictions, capital requirements, business prospects and other factors our Board of Directors may deem relevant.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Recent Sales of Unregistered Securities </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There were no sales of unregistered securities during the period covered by this report that have not previously been reported on Form 10-Q or Form 8-K.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Issuer Purchases of Equity Securities</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We did not repurchase any of our equity securities d<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">uring the fourth quarter of 2017.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">21</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Securities Authorized for Issuance </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>U</b><b>nder Equity Co</b><b>mpensation</b><b> Plans</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The following table sets forth certain inf<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ormation as of December 31, 2017 with respect to compensation plans under which our equity securities are authorized for issuance.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="margin-right: 5%; margin-left: 18pt; width: 95%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 37%; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; text-align: center;">Plan Category</p>
			</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Number of securities to be</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">issued upon exercise of</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">outstanding options,</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">warrants and rights<br>
			<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">(a)</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted-average exercise</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">price of outstanding options,</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">warrants and</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">rights<br>
			<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">(b)</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Number of securities</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">remaining available for</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">future issuance under</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">equity compensation plans</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">(excluding securities</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">reflected in column (a))</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">(c)</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-top: thin solid rgb(0, 0, 0); border-right: thin solid rgb(0, 0, 0); border-bottom: thin solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0); width: 37%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt; text-indent: -9pt;">Equity compensation pla<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ns approved by stockholders</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 17%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">3,720,000</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 20%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">$0.48</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 17%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">-0-</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; border-right: thin solid rgb(0, 0, 0); border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0); width: 37%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt; text-indent: -9pt;">Equity compensation plans n<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ot approved by stockholders</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 17%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">3,304,275</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 20%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">$0.07</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-left: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 17%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); text-align: center;">526,025</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px; border-right: thin solid rgb(0, 0, 0); border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">A description of our equity compensation plans can be found in footnotes 2 <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">and 9 to our 2017 consolidated financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>ITEM</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b><u>SELECTED FINANCIAL DATA</u></b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The following selected financial data <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">as of and for each of the five years ended December 31, 2017 are derived from our audited consolidated financial statements. The historical results presented below are not necessarily indicative of the results to be expected for any future period. The information set forth below should be read in conjunction with the information contained in &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;, and our consolidated financial statements and the related notes, beginning on page F-1.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="18" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Years Ended December 31,</p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">4</font></p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">3</font></p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 40%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>Statement of Operations Data:</i></p>
			</td>
			<td id=".lead.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B2" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B6" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total revenues</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,075,270</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">828,918</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">428,081</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">882,956</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,417,550</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net loss</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(2,170,162</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(3,271,701</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(2,689,287</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(2,733,555</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(2,284,943</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Basic and diluted net loss per common share</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(0.03</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(0.08</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(0.08</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(0.10</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(0.11</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="18" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">As of December 31,</p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">4</font></p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">3</font></p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>Balance Sheet Data:</i></p>
			</td>
			<td id=".lead.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B2" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".amt.B6" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><i>&nbsp;</i></td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total assets</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">490,235</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">610,217</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,331,593</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,333,198</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,839,576</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total stockholders<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo; equity (deficiency)</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">(321,057</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">240,370</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,204,603</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">1,146,175</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">2,527,227</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>ITEM</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION </b></font><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">AND RESULTS OF OPERATIONS</font></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The following discussion and analysis of our financial condition and results of operations should be read together with &ldquo;Selected Financial Data&rdquo; and our consolidated financial statements<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> and the related notes beginning on page F-1. This discussion contains forward-looking statements that involve risks and uncertainties because they are based on current expectations and relate to future events and our future financial performance. Our actual results may differ materially from those anticipated in these forward-looking statements because of many important factors, including those set forth under &ldquo;Risk Factors&rdquo; and elsewhere in this Annual Report.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Overvie</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>w</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax is a clinical-stage biotechnology company developing human vaccines against infectious diseases and cancer using a novel patented Modified Vaccinia Ankara-Virus Like Particle (MVA-VLP) vaccine platform. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> In this platform, MVA, a large virus capable of carrying several vaccine antigens, expresses proteins that assemble into highly effective VLP immunogens in the person being vaccinated. The MVA-VLP derived vaccines elicit durable immune responses in the host similar to a live-attenuated virus, while providing the safety characteristics of a replication-defective vector.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our current development programs are focused on preventive vaccines against Human Immunodeficiency Virus (HIV), Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, and Lassa), and malaria, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Our most advanced vaccine program is focused on the clade B subtype of HIV prevalent in the larger commercial markets of the Americas, Western Europe, Japan and Australia; this program is currently undergoing human clinical trials.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our corporate strategy is to advance and protect our vaccine platform and use its unique capabilities to design and develop an array of products. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> We aim to advance products through to human clinical testing, and to seek partnership or licensing arrangements for commercialization. We will also leverage third party resources through collaborations and partnerships for preclinical and clinical testing. Our collaborators and partners include the National Institute of Allergy and Infectious Diseases (NIAID) of the National Institutes of Health (NIH), the HIV Vaccines Trial Network (HVTN), Centers for Disease Control and Prevention (CDC), United States Army Research Institute of Infectious Disease (USAMRIID), U.S. Naval Research Laboratory (USNRL), Emory University, University of Pittsburgh, Georgia State University Research Foundation, Peking University, University of Texas Medical Branch (UTMB), the Institute of Human Virology (IHV) at the University of Maryland, the Scripps Research Institute (TSRI), Burnet Institute in Australia, American Gene Technologies, Inc. (AGT), ViaMune, Inc., Vaxeal Holding SA, and CaroGen Corporation.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have not generated any revenues from the sale of any such products, and we do not expect to generate any such revenues for at least the next several years. Our product candidates will require significant additional research and development efforts, including extensive preclinical and clinical testing. All product candidates that we advance to clinical testing will require regulatory approval prior to commercial <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">use and will require significant costs for commercialization. We may not be successful in our research and development efforts, and we may never generate sufficient product revenue to be profitable.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Critical Accounting Policies and Estimates</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">This discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis, management evaluates its estimates and adjusts the estimates as necessary. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from these estimates under different assumptions or conditions.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our significant accounting policies are summarized in Note<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;2 to our consolidated financial statements for the year ended December 31, 2017. We believe the following critical accounting policies affect our more significant judgments and estimates used in the preparation of our consolidated financial statements:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Revenue Recognition</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During the years ended December 31, 2017, 2016 and 2015, w<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">e recognized revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 101, <i>Revenue Recognition in Financial Statements, </i>as amended by Staff Accounting Bulletin No. 104, <i>Revenue Recognition, </i>(SAB 104). SAB 104 provides guidance in applying GAAP to revenue recognition issues, and specifically addresses revenue recognition for upfront, nonrefundable fees received in connection with research collaboration agreements. During 2017, 2016 and 2015, our revenue consisted primarily of grant and contract funding received from the NIH. Revenue from these arrangements is approximately equal to the costs incurred and is recorded as income as the related costs are incurred.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In May 2014, the FASB issued Accounting Standards Update 2014-09, <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Revenue from Contracts with Customers</i> (ASU 2014-09), which creates a new Topic, Accounting Standards Codification Topic 606. The standard is principle-based and provides a five-step model to determine when and how revenue is recognized. The core principle is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for the Company beginning January 1, 2018. We do not believe the adoption of ASU 2014-09 will have a material impact on our financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Stock-Based Compensation</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the aw<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ard at the grant date. Compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Compensation cost for stock options or warrants is estimated at the grant date based on each instrument&rsquo;s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In March 2016, the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">FASB issued Accounting Standards Update 2016-09, <i>Improvements to Employee Share-Based Payment Accounting</i> (&ldquo;ASU 2016-09&rdquo;), which amends Accounting Standards Codification Topic 718, Compensation &ndash; Stock Compensation. ASU 2016-09 is an attempt to simplify several aspects of the accounting for stock-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. We adopted ASU 2016-09 effective January 1, 2017; such adoption had no material impact on our financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">May 2017, the FASB issued Accounting Standards Update 2017-09, <i>Scope of Modification</i><i> Accounting</i> (&ldquo;ASU 2017-09&rdquo;), which amends Accounting Standards Codification Topic 718, Compensation &ndash; Stock Compensation. ASU 2017-09 is an attempt to provide clarity and reduce both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718 Compensation &ndash; Stock Compensation, to a change to the terms or conditions of a share-based payment award. ASU 2017-09 is effective for the Company beginning January&nbsp;1, 2018. We do not believe the adoption of ASU 2017-09 will have a material impact on our financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Liquidity and Capital Resources</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">O<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ur principal uses of cash are to finance our research and development activities. Since inception, we have funded these activities primarily from government grants and clinical trial assistance, and from sales of our equity securities. At December 31, 2017, we had cash and cash equivalents of $312,727 and total assets of $490,235, as compared to $454,030 and $610,217, respectively, at December&nbsp;31, 2016. At December 31, 2017, we had a working capital deficit of $363,218, compared to positive working capital of $174,532 at December&nbsp;31, 2016. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Our current liabilities at December 31, 2017 and 2016 include $715,235 and $279,240, respectively, of accrued management salaries and director fees, payment of which will continue to be deferred as discussed further below.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net cash used in operating activities was<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> $1,688,464, $1,946,119, and $2,705,263 for the years ended December&nbsp;31, 2017, 2016 and 2015, respectively. Generally, the variances between periods are due to fluctuations in our net losses, offset by non-cash charges such as depreciation and stock-based compensation expense, and by net changes in our assets and liabilities. Our net losses generally fluctuate based on expenditures for our research activities, partially offset by government grant revenues. As of December 31, 2017, there is $481,695 in remaining grant funds available for use during 2018.</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> See the table with further details under &ldquo;Results of Operations &ndash; Grant and Collaboration Revenues&rdquo; below.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During 2016 and 2017 members of our executive management team and our board of directors agreed to defer portions of their salaries and fees in order to help conserve the Company<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s cash resources. As of December 31, 2017 and 2016, the accumulated deferrals totaled $715,235 and $279,240, respectively. The ongoing deferrals of approximately $30,200 per month for the management salaries and approximately $28,000 per quarter for the board of director fees will continue until such time as a significant financing event (as determined by the board of directors) is consummated.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">NIAID has funded the costs of conducting all of our human clinical trials (Phase 1 and Phase 2a) to date for our preventive HIV vaccines, with GeoVax incurring certain costs associated with manufacturing the clinical vaccine supplies and other study support. NIAID is also currently funding the cost of an ongoing Phase 1 trial (HVTN 114), which is investigating the effect of adding a &ldquo;protein boost&rdquo; component to our vaccine. Concurrently, a preclinical study in non-human primates (funded by a NIAID grant) is evaluating two additional proteins specifically chosen as boosting agents for GOVX-B11, and planning is underway for a Phase 1 trial to evaluate the safety and immunogenicity of these proteins in humans<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, which we expect to begin in the second half of 2018. Based on the results from these studies, we expect NIAID may then be ready to support a large phase 2b efficacy trial. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net cash used in <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">investing activities was $4,350, $ -0-, and $15,850 for the years ended December 31, 2017, 2016 and 2015, respectively. Our investing activities have consisted predominantly of capital expenditures.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Net cash provided by financing activities was<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> $1,551,511, $1,339,801, and $2,679,810 for the years ended December 31, 2017, 2016 and 2015, respectively. During 2015, we sold 3,000 shares of Series C convertible preferred stock for </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">net proceeds of $2,679,810; as part of this transaction, we also issued several series of stock purchase warrants. During 2016, warrants to purchase 21,884,420 shares of common stock were exercised for total net proceeds to the Company of $1,339,801. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">In May 2017, we sold shares of our Series D convertible preferred stock for net proceeds of $980,000. During 2017</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, warrants to purchase an aggregate of 31,639,577 shares of common stock were exercised for total net proceeds of $571,511.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On February 28, 2018, we entered into a Senior Note Purchase Agreement with Georgia Research Alliance, Inc. (GRA) pursuant to which we issued a five-year Senior Promissory Note (the &ldquo;Note&rdquo;) in exchange for $50,000. The Note bears an annual interest rate of 5%, payable monthly, with principal repayments beginning in the second year. In connection with the Note, we also issued to the GRA a five-year warrant to purchase 178,571 shares of our common stock at a purchase price of $0.042 per share.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On March <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5, 2018, we sold shares of our Series E convertible preferred stock to certain institutional investors for an aggregate purchase price of $600,000. The preferred stock is convertible at any time into shares of our common stock at $0.08 per share (7,500,000 shares in the aggregate), subject to possible adjustment as provided in the certificate of designation.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">As of <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">December 31, 2017, we had an accumulated deficit of $37.9 million. We expect for the foreseeable future we will continue to operate at a loss. The amount of the accumulated deficit will continue to increase, as it will be expensive to continue our research and development efforts. We will continue to require substantial funds to continue our activities and cannot predict the outcome of our efforts. We believe that our existing cash resources, combined with funding from existing NIH grants and clinical trial support will be sufficient to fund our planned operations into the third quarter of 2018. We will require additional funds to continue our planned operations beyond that date. We are currently seeking sources of capital through additional government grant programs and clinical trial support, and we may also conduct additional offerings of our equity securities. However, additional funding may not be available on favorable terms or at all and if we fail to obtain additional capital when needed, we may be required to delay, scale back, or eliminate some or all of our research and development programs as well as reduce our general and administrative expenses.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Contractual Obligations</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Contractual obligations represent future cash commitments and liabilities under agreements with third <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">parties and exclude contingent liabilities for which we cannot reasonably predict future payment. Additionally, the expected timing of payment of the obligations presented below is estimated based on current information. Timing of payments and actual amounts paid may be different depending on the timing of receipt of goods or services or changes to agreed-upon terms or amounts for some obligations.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The following table represents our contractual obl<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">igations as of December 31, 2017, aggregated by type (in thousands):</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" class="finTable" id="null" style="width: 95%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; margin: 0pt auto 0pt 10pt;">

		<tr style="vertical-align: bottom; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="18" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Payments Due by Period</b></b></p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Contractual </b></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><b>Obligations</b></p>
			</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Total</b></b></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Less than</b></b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>1 Year</b></b></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>1-3</b></b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Years</b></b></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>4-5</b></b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>Years</b></b></p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>More than</b></b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><b>5 years</b></b></p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating Lease Obligations <sup>(1)</sup></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">156</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">156</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">--</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">--</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">--</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Firm Purchase Commitments <sup>(2)</sup></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">79</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">79</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">--</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">--</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">--</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Emory University &ndash; License Agreement <sup>(3)</sup></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">--</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">--</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">--</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">--</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">--</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">235</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">235</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">--</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">--</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">--</td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:9pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(1)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Our operating lease obligations relate to the facility lease for our 8,430 square foot facility in Smyrna, Georgia, which houses our laboratory operations and our administrative offices. The <font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">current term of our lease expires on December 31, 2018.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:9pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(2)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Firm purchase commitments relate to contracts for research activities related to NIH grants.</p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:9pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(3)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Pursuant to the Emory License, we have committed to make potential future milestone and royalty payments which are contingent upon the occurrence of future events. Such events include development milestones, regulatory approvals and product sales. Because the achievement of these milestones is currently neither probable nor reasonably estimable, the contingent payments have not been included in the table above or recorded on our Consolidate<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">d Balance Sheets. The aggregate total of all potential milestone payments included in the Emory License (excluding royalties on net sales) is approximately $3.5 million.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">As of December 31, 2017<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, except as disclosed in the table above, we had no other material firm purchase obligations or commitments for capital expenditures and no committed lines of credit or other committed funding or long-term debt. We have employment agreements with our executive officers, each of which may be terminated with no more than 90&nbsp;days&rsquo; advance written notice. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">25</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Net Operating Loss Carryforwards</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">At December 31, 2017<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, we had consolidated net operating loss carryforwards for income tax purposes of $70.9 million, which will expire in 2019 through 2037 if not utilized. We also have research and development tax credits of approximately $949,000 available to reduce income taxes, if any, which will expire in 2022 through 2037 if not utilized. The amount of net operating loss carryforwards and research tax credits available to reduce income taxes in any year may be limited in certain circumstances. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Off-Balance Sheet Arrangements</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have no off-balance sheet arrangements that are likely or reasonably likely to have a material effect on our financial condition or results of operations<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, other than operating leases.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Results of Operations</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We recorded net losses of<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> $2,170,162, $3,271,701, and $2,689,287 for the years ended December 31, 2017, 2016 and 2015, respectively. Our operating results typically fluctuate due to the timing of activities and related costs associated with our research and development activities and our general and administrative costs, as described below.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Grant </i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>and Collaboration </i><i>Revenue</i><i>s</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We recorded grant<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> and collaboration revenues of $1,075,270, $828,918, and $428,081 for the years ended December 31, 2017, 2016 and 2015, respectively. Our grant revenues relate to grants and contracts from NIAID in support of our vaccine development activities. We record revenue associated with these grants as the related costs and expenses are incurred. The difference in our grant revenues from period to period is dependent upon our expenditures for activities supported by the grants and fluctuates based on the timing of the expenditures. Additional detail concerning our grant revenues and the remaining funds available for use as of December 31, 2017 is presented in the table below.</font></p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="10" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Grant Revenue Recorded During</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Year Ended December 31,</p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Remaining Funds Available at December 31,</p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 52%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Grant/Contract No.</p>
			</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Staged Vaccine Development Contract</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">142,240</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">55,521</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">SBIR Grant No. R43AI120887</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">158,972</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">235,535</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">199,116</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">SBIR Grant No. R44AI106422</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">604,703</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">537,862</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">256,050</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">SBIR Grant No. R43AI106422</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">153,501</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">-</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">SBIR Grant No. R43AI134200</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">74,355</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">225,645</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">IPCAVD<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Grant </font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">75,464</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">980,270</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">828,918</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">428,081</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">481,695</td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In March 2017, we entered into a collaboration with American Gene Technologies International, Inc. (AGT) whereby AGT intends to conduct a Phase 1 human clinical trial with our combined technologies, with the goal of developing a functional cure for HIV infection. The cost of the clinical trial will be borne by AGT. The primary objectives of the trial will be to assess the safety and efficacy of the therapy, with secondary objectives to assess the immune responses as a measure of efficacy. In exchange for use of our vaccine product in the clinical trial, AGT paid us a fee of $95,000 which we recorded as<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> revenue during 2017. No commercial rights or licenses have yet been granted to AGT.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Research and Development</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i> Expenses</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our research and development expenses were<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> $2,017,350, $1,970,859, and $1,693,102 for the years ended December 31, 2017, 2016 and 2015, respectively. Research and development expense for these periods includes stock-based compensation expense of $25,953, $23,614, and $22,083 for 2017, 2016 and 2015, respectively (see discussion under &ldquo;Stock-Based Compensation Expense&rdquo; below).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">26</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our research and development expenses can fluctuate considerably on a period-to-period basis, depending on our need for vaccine manufacturing by third parties, the timing of expenditures related to our grants from <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">NIAID, the timing of costs associated with any clinical trials being funding directly by us, and other factors. The overall increase in research and development expense from 2015 to 2017 is primarily attributable to increasing expenditures related to the activities supported by our grants from NIAID. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Our research and development costs do not include costs incurred by the HVTN in conducting clinical trials of our preventive HIV vaccines; those costs are funded directly to the HVTN by NIAID.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We do not<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> disclose our research and development expenses by project, since our employees&rsquo; time is spread across multiple programs and our laboratory facility is used for multiple vaccine candidates. We track the direct cost of research and development expenses related to government grant revenue by the percentage of assigned employees&rsquo; time spent on each grant and other direct costs associated with each grant. Indirect costs associated with grants are not tracked separately but are applied based on a contracted overhead rate negotiated with the NIH. Therefore, the recorded revenues associated with government grants approximates the costs incurred. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We do not provide forward-looking estimates of costs and time to complete our research programs due to the many uncertainties associated with vaccine development. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Due to these uncertainties, our future expenditures are likely to be highly volatile in future periods depending on the outcomes of the trials and studies. As we obtain data from pre-clinical studies and clinical trials, we may elect to discontinue or delay vaccine development programs to focus our resources on more promising vaccine candidates. Completion of preclinical studies and human clinical trials may take several years or more, but the length of time can vary substantially depending upon several factors. The duration and the cost of future clinical trials may vary significantly over the life of the project because of differences arising during development of the human clinical trial protocols, including the number of patients that ultimately participate in the clinical trial; the duration of patient follow-up that seems appropriate in view of the results; the number of clinical sites included in the clinical trials; and the length of time required to enroll suitable patient subjects.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>General and Administrative Expense</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>s</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our general and administrative expenses were<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> $1,232,368, $2,131,426, and $1,429,731 for the years ended December&nbsp;31, 2017, 2016 and 2015, respectively. General and administrative costs include officers&rsquo; salaries, legal and accounting costs, patent costs, and other general corporate expenses. General and administrative expense includes stock-based compensation expense of $31,271, $944,053, and $45,822 for 2017, 2016 and 2015, respectively (see discussion under &ldquo;Stock-Based Compensation Expense&rdquo; below). </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Excluding stock-based compensation expense, general and administrative expenses were $1,201,097, $1,187,373, and $1,383,909 for </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">2017, 2016 and 2015, respectively. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">The decrease in general and administrative expense from 2015 to 2016 is primarily attributable to general reductions in general and administrative costs as part of overall cost containment measures which continued into 2017</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. We expect that our general and administrative costs may increase in the future in support of expanded research and development activities and other general corporate activities.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Stock-Based Compensation Expense</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">For the thr<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ee years ended December 31, 2017, the components of stock-based compensation expense were as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="margin-right: 20%; margin-left: 18pt; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 43%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Stock option expense</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 16%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">57,224</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 16%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">54,805</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 16%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">67,905</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Warrant modification expense</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">912,862</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">-</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total stock<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">-based compensation expense</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">57,224</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">967,667</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">67,905</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In general, stock-based compensation expense<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> is allocated to research and development expense or general and administrative expense according to the classification of cash compensation paid to the employee, consultant or director to whom the stock compensation was granted. For the three years ended December 31, 2017, stock-based compensation expense was allocated as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="margin-right: 20%; margin-left: 18pt; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 43%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">General and administrative expense</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 16%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">31,271</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 16%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">944,053</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 16%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">45,822</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Research and development expense</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">25,953</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">23,614</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">22,083</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total stock<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">-based compensation expense</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">57,224</td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">967,667</td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">67,905</td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">27</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Interest</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i> Income</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Interest income was<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> $4,286, $1,666, and $5,465 for the years ended December 31, 2017, 2016 and 2015, respectively. The variances between years are primarily attributable to the cash available for investment and to interest rate fluctuations.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Impact of Inflation</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">For the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">three-year period ended December&nbsp;31, 2017, we do not believe that inflation and changing prices had a material impact on our operations or on our financial results.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 54pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> 7A. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our exposure to market risk is limited primarily to interest income sensitivity, which is affected by changes in the general level of United States interest rates, particularly because a significant portion of our investments are in institutional money market funds. The primary objective of our investment activities is to preserve principal while at the same time maximizing the income received without significantly increasing risk. Due to the nature of our short-term investments, we believe that we are not subject to any material market risk exposure. We do not have any derivative financial instruments or foreign currency instruments.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 54pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>8. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our consolidated financial statements and supplemental schedule and notes<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> thereto as of December 31, 2017 and 2016 and for each of the three years ended December 31, 2017, 2016 and 2015 together with the independent registered public accounting firm&rsquo;s report thereon, are set forth on pages F-1 to F-16 of this Annual Report on Form 10-K.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM 9.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"> </font></b></p>
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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">Changes in and Disagreements with Accountants on Accounting </font></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"><b>AND Financial Disclosure</b></font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There were no disagreements with our accountants on matters of accounting or financial disclosure, or other reportable events requiring disclosure under this Item 9.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM 9A.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"> </font></b></p>
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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">Controls and Procedures</font></b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Evaluation of Disclosure Controls and Procedures</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We maintain disclosure controls and procedures designed to ensure that financial information required to be disclosed in our reports filed under the Securities Exchange Act of 1934, as amended (the Exchange Act), is recorded, processed, summarized, and reported within the required time periods, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for timely decisions regarding disclosure.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">An evaluation was performed by our Chief Executive Officer and Chief Financial Officer of the effectiveness of the design and operation of our disclosure controls and procedures as of December 31, 20<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">17. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures were effective as of December&nbsp;31, 2017 to provide reasonable assurance that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC rules and forms.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Management<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s Report on Internal Control Over Financial Reporting</font></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Management is responsible for establishing and maintaining adequate internal control over financial reporting, as defined in Rule 13a-15(f) of the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Exchange Act</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Management has assessed the effectiveness of our internal control over financial reporting as of December 31, 2017 based on criteria established in <i>Internal Control</i><i> -</i><i> Integrated Framework</i><i> (2013), </i>issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). As a result of this assessment, management concluded that, as of December 31, 2017, our internal control over financial reporting was effective in providing reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">28</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Changes in Internal Control Over Financial Reporting</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">There were no changes in our internal control over financial reporting that occurred during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Limitations on Controls</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Management does not expect that our disclosure controls and procedures or our internal control over financial reporting will prevent or detect all error an<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">d fraud. Any control system, no matter how well designed and operated, is based upon certain assumptions and can provide only reasonable, not absolute, assurance that its objectives will be met. Further, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, within the Company have been detected. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM 9B.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"> </font></b></p>
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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">Other Information</font></b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">None.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>PART III</u></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM 10.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"> </font></b></p>
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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">Directors, Executive Officers and Corporate Governance</font></b></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Information required by this Item is included in our definit<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ive proxy statement for our 2018 meeting of shareholders to be filed with the SEC under the captions &ldquo;Directors and Executive Officers&rdquo; and &ldquo;Corporate Governance&rdquo; and is incorporated herein by this reference.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Code of Ethics</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have adopted a Code of Ethics in compliance with the applicable rules of the SEC that applies to our principal executive officer, our principal financial officer and our principal accounting officer, or persons performing similar functions<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. A copy of this policy is available on our website at <i>www.geovax.com</i> under the heading &ldquo;Investors &ndash; Corporate Governance&rdquo; and is also available free of charge upon written request to the attention of our Corporate Secretary by regular mail, e-mail to mreynolds@geovax.com, or facsimile at (678) 384-7281. We intend to disclose any amendment to, or a waiver from, a provision of our code of ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions and that relates to any element of the code of ethics enumerated in applicable rules of the SEC. Such disclosures will be made on our website at <i>www.geovax.com</i>.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM 11. </b></p>
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			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">Executive Compensation</font></b></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The i<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">nformation required by this Item is included in our definitive proxy statement for our 2018 meeting of shareholders to be filed with the SEC under the captions &ldquo;Corporate Governance&rdquo; and &ldquo;Compensation Discussion and Analysis&rdquo; and is incorporated herein by this reference.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM 12.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"> </font></b></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">Security Ownership of Certain B</font></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"><b>eneficial Owners and Management</b></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"><b>and Related<b> </b>Stockholder Matters</b></font></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The information required by this Item is included in our definit<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ive proxy statement for our 2018 meeting of shareholders to be filed with the SEC under the captions &ldquo;Security Ownership of Principal Stockholders, Directors and Executive Officers&rdquo; and &ldquo;Securities Authorized for Issuance under Equity Compensation Plans&rdquo; and is incorporated herein by this reference.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>ITEM 13.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"> </font></b></p>
			</td>
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			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">Certain Relationships and Related Party Transactions, </font></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"><b>and Director Independence</b></font></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The information required by this Item is included in our definitive<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> proxy statement for our 2018 meeting of shareholders to be filed with the SEC under the captions &ldquo;Corporate Governance&rdquo; and &ldquo;Certain Relationships and Related Party Transactions&rdquo; and is incorporated herein by this reference.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">29</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-transform:uppercase;"><b>Item 14.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"><b>Principal AccountING</b><b>&nbsp;Fees and Services</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The information required by this Item is included in our definit<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ive proxy statement for our 2018 meeting of stockholders to be filed with the SEC under the caption &ldquo;Ratification of Appointment of the Independent Registered Public Accounting Firm&rdquo; and is incorporated herein by this reference.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b><u>PART IV</u></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-transform:uppercase;"><b>Item 15.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits and Financial Statement Schedules</font></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<td style="width: 18pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>(a)</b></td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>Documents filed as part of this report:</b></td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

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		<tr>
			<td style="width: 25px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(1)</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1631px;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Financial Statements</font></td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center; width: 5%;"><u>Page</u></td>
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			<td style="width: 25px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1631px;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Report of Independent Registered Public Accounting Firm</font></td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 5%; text-align: center;">F-2</td>
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			<td style="width: 25px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1631px;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Consolidated Balance Sheets as of December 31, 2017 and 2016&nbsp;&nbsp;</font></p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 5%; text-align: center;">F-3</td>
		</tr>
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			<td style="width: 25px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1631px;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Consolidated Statements of Operations for the years ended December 31, 2017, 2016 and 2015&nbsp;&nbsp;</font></td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 5%; text-align: center;">F-4</td>
		</tr>
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			<td style="width: 25px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1631px;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Consolidated Statements of Stockholders&rsquo; Equity for the years ended December 31, 2017, 2016 and 2015</font></td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 5%; text-align: center;">F-5</td>
		</tr>
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			<td style="width: 25px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1631px;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Consolidated Statements of Cash Flows for the years ended December 31, 2017, 2016 and 2015&nbsp;&nbsp;</font></td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 5%; text-align: center;">F-6</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="width: 25px; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1631px;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Notes to Consolidated Financial Statements</font></td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 5%; text-align: center;">F-7</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 18pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(2)</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Financial Statement Schedules</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 18pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The following financial statement schedule is set forth on page F-16 of this Annual Report on Form 10-K:</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 18pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Schedule II&mdash;Valuation and Qualifying Accounts for the years ended December 31, 2017, 2016 and 2015</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 18pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">All other financial statement schedules have been omitted because they are not applicable or not required or because the information is included elsewhere in the Consolidated Financial Statements or the Notes thereto.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:18pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-18pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 18pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(3)</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Exhibits Required by Item 601 of Regulation S-K</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 18pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">The exhibits filed with this report are set forth on the exhibit index following the signature page and are incorporated by reference in their entirety into this item.</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>ITEM&nbsp;16.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">&nbsp; &nbsp; &nbsp;FORM 10-K SUMMARY</font></b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 18pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">None.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;font-variant:small-caps;margin:0pt;text-align:center;"><b><i>[Signatures on Following Page]</i></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;font-variant:small-caps;margin:0pt;text-align:center;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">30</div>

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<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><b>S</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"><b>ignatures</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width: 50%;">&nbsp;</td>
			<td style="width: 50%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>GEOVAX LABS, INC.</b></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">BY:<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u> /s/ Robert T. McNally&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Robert T. McNally</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">President and Chief Executive Officer</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">(Principal Executive Officer)</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Date: <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">March 23, 2018</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been duly signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 22%;">Signature / Name</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Title</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Date</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%; border-bottom: thin solid rgb(0, 0, 0);">/s/ Robert T. McNally<font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Director</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">March 23, 2018</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">Robert T. McNally</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">President and Chief Executive Officer</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(Principal Executive Officer)</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%; border-bottom: thin solid rgb(0, 0, 0);">/s/ Mark W. Reynolds<font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Chief Financial Officer&nbsp;&nbsp;</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">March 23, 2018</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">Mark W. Reynolds</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(Principal Financial and Accounting Officer)</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%; border-bottom: thin solid rgb(0, 0, 0);">/s/ Randal D. Chase</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Director</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">March 23, 2018</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">Randal D. Chase</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%; border-bottom: thin solid rgb(0, 0, 0);">/s/ David A. Dodd</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Director</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">March 23, 2018</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">David A. Dodd</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%; border-bottom: thin solid rgb(0, 0, 0);">/s/ Dean G. Kollintzas</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Director</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">March 23, 2018</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">Dean G. Kollintzas</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%; border-bottom: thin solid rgb(0, 0, 0);">/s/ Robert T. McNally</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Director</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">March 23, 2018</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">Robert T. McNally</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%; border-bottom: thin solid rgb(0, 0, 0);">/s/ Harriet L. Robinson</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Director</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">March 23, 2018</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">Harriet L. Robinson</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 22%; border-bottom: thin solid rgb(0, 0, 0);">/s/ John N. Spencer, Jr.</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Director</font></td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;"><font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">March 23, 2018</font></td>
		</tr>
		<tr>
			<td style="width: 22%;">John N. Spencer, Jr.</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 42%;">&nbsp;</td>
			<td style="width: 2%;">&nbsp;</td>
			<td style="width: 32%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">31</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>EXHIBIT INDEX</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Exhibit</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u>Number</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;</font></p>
			</td>
			<td style="vertical-align: bottom;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>Description</u></font></td>
		</tr>
		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.1</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095014408005004/g13992exv3w1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Incorporation (4)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.1.1</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095012310034714/c99234exv3w1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Amendment to the Certificate of Incorporation of GeoVax Labs, Inc. filed April 13, 2010 (8)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.1.2</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095012310039442/c99794exv3w1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Amendment to the Certificate of Incorporation of GeoVax Labs, Inc. filed April 27, 2010 (9)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.1.3</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774913009821/ex3-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Amendment to the Certificate of Incorporation of GeoVax Labs, Inc. filed August 2, 2013 (10)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.1.4</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774915010019/ex3-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Amendment to the Certificate of Incorporation of GeoVax Labs, Inc. filed May 13, 2015 (15)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.1.5</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774916033922/ex3-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Amendment to the Certificate of Incorporation of GeoVax Labs, Inc. filed June 14, 2016 (17)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.1.6</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774917013827/ex3-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Amendment to the Certificate of Incorporation of GeoVax Labs, Inc. filed August 4, 2017 (22)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.2</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095014408005004/g13992exv3w2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Bylaws (4)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">4.1<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">.1</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774913016121/ex3-2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Designation of Preferences, Rights and Limitations of Series B Convertible Preferred Stock filed December 13, 2013 (12)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">4.1<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">.2</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774913016121/ex4-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Stock Certificate for the Series B Convertible Preferred Stock (12)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">4.2<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">.1</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774915003836/ex3-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Designation of Preferences, Rights and Limitations of Series C Convertible Preferred Stock filed February 27, 2015 (13)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">4.2<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">.2</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774915003836/ex4-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Stock Certificate for the Series C Convertible Preferred Stock (13)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">4.3.1</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774917008355/ex4-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Designation of Preferences, Rights and Limitations of Series D Convertible Preferred Stock filed May 9, 2017 (21)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">4.3.2</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774917008355/ex4-2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Stock Certificate for the Series D Convertible Preferred Stock (21)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">4.4.1</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774918004006/ex_106935.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certificate of Designation of Preferences, Rights and Limitations of Series E Convertible Preferred Stock filed May 9, 2017 (23)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">4.4.2</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774918004006/ex_106953.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Stock Certificate for the Series E Convertible Preferred Stock (23)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.1 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">*</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095014408002235/g12460exv10w1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Employment Agreement between GeoVax Labs, Inc. and Robert T. McNally effective as of April 1, 2008 (5)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.1.1 **</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774913013257/ex10-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Amendment No. 1 to Employment Agreement between GeoVax Labs, Inc. and Robert T. McNally dated&nbsp;</font>October 22,<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"> 2013 (11)</font></a></p>
			</td>
		</tr>

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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.1.2 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">,**</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107977.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Salary Deferral Agreement between GeoVax, Inc. and Robert T. McNally</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.1.3 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">,**</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107978.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Amendment to Salary Deferral Agreement between GeoVax, Inc. and Robert T. McNally</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.2 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">*</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095012310022136/g22401exv10w2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Employment Agreement between GeoVax, Inc. and Mark W. Reynolds Amended and Restated effective as of January 1, 2010 (7)</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.2.1 **</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774913013257/ex10-3.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Amendment No. 1 to Employment Agreement between GeoVax Labs, Inc. and Mark W. Reynolds dated&nbsp;</font>October 22, 2<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">013 (11)</font></a></p>
			</td>
		</tr>

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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.2.2 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">,**</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107979.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Salary Deferral Agreement between GeoVax, Inc. and Mark W. Reynolds</font></a></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.2.3 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">,**</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107980.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Amendment to Salary Deferral Agreement between GeoVax, Inc. and Mark W. Reynolds</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.3 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">*</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095012310022136/g22401exv10w3.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Employment Agreement between GeoVax, Inc. and Harriet Robinson effective as of November 19, 2007 (7)</font></a></p>
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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.3.1 **</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774913013257/ex10-2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Amendment No. 1 to Employment Agreement between GeoVax Labs, Inc. and Harriet Robinson dated&nbsp;</font>October 22, 2013 (11<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.3.2 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">,**</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107981.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Salary Deferral Agreement between GeoVax, Inc. and Harriet Robinson</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.3.3 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">,**</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107982.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Amendment to Salary Deferral Agreement between GeoVax, Inc. and Harriet Robinson</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.4 **</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774915020553/ex10-7.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Employment Agreement between GeoVax, Inc. and Farshad Guirakhoo dated October 19, 2015 (16)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.4.1 <font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">**</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774916027776/ex10-41.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Amendment No. 1 to Employment Agreement between GeoVax Labs, Inc. and Farshad Guirakhoo dated&nbsp;</font>December 15, 2015<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"> (18)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.4.2 *<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">,**</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107983.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Salary Deferral Agreement between GeoVax, Inc. and Farshad Guirakhoo</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">5 **</font></p>
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			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000109690606000897/dauphin14c.txt" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">GeoVax Labs, Inc. 2006 Equity Incentive Plan (2)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.5.1 **</p>
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			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774916030363/govx20160425_def14a.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">GeoVax Labs, Inc. 2016 Stock Incentive Plan (19)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.5.2 **</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774916036556/ex10-3.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Employee Stock Option Agreement (20)</font></a></p>
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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.5.3 **</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774916036556/ex10-4.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Non-Qualified Stock Option Agreement (20)</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">6</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000109690606001179/geovax8k100106ex10-2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">License Agreement (as amended and restated) between GeoVax, Inc. and Emory University, dated&nbsp;</font>August 23, 2002 (<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">1)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">7</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095012309058724/g20957exv10w1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Office and Laboratory Lease between UCB, Inc. and GeoVax, Inc. (6)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">7.1</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774915005604/ex10-91.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Amendment to Lease Agreement between UCB, Inc. and GeoVax, Inc. (14)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.7.2<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"> *</font></p>
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			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_108049.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Second Amendment to Lease Agreement between UCB, Inc. and GeoVax, Inc.</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">8</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000095012310022136/g22401exv10w13.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Summary of the GeoVax Labs, Inc. Director Compensation Plan (7)</font></a></p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">9</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774913016121/ex10-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Securities Purchase Agreement dated December 11, 2013 (12)</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.10</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774913016121/ex10-2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Registration Rights Agreement dated December 11, 2013 (12)</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.11</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774915003836/ex10-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Securities Purchase Agreement dated February 25, 2015 (13)</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.12</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774915003836/ex10-2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Registration Rights Agreement dated February 25, 2015 (13)</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">13</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774917008355/ex10-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Securities Purchase Agreement dated May 8, 2017 (21)</font></a></p>
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<p style="margin: 0pt;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">32</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">14</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774917008355/ex10-2.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Registration Rights Agreement dated May 8, 2017 (21)</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.15</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000143774918004006/ex_106936.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Form of Securities Purchase Agreement dated March 5, 2018 (23)</font></a></p>
			</td>
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			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.1<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">6 *</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_108047.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Senior Note Purchase Agreement between Georgia Research Alliance, Inc. and GeoVax Labs, Inc., dated February 28, 2018</font></a></p>
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			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.1<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">7 *</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_108048.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Common Stock Purchase Warrant dated February 28, 2018</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">10.18 *</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107985.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Agreement with Maxim Group LLC dated February 14, 2018</font></a></p>
			</td>
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			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">14.1</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000109690607000445/geovax10k123106ex14-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Code of Ethics (3)</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">21.1</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="http://www.sec.gov/Archives/edgar/data/832489/000109690607000445/geovax10k123106ex21-1.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Subsidiaries of the Registrant (3)</font></a></p>
			</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">31.1 *</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107986.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certification pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934 </font></a></p>
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			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">31.2 <font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">*</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107987.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certification pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934 </font></a></p>
			</td>
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			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">32.1 <font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">*</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107988.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certification pursuant to 18 U.S.C. Section 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002 </font></a></p>
			</td>
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			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">32.2 <font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">*</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><a href="ex_107989.htm" style="-sec-extract:exhibit;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Certification pursuant to 18 U.S.C. Section 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002 </font></a></p>
			</td>
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			<td style="width:54pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">101 *,***</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">The following financial information from GeoVax Labs, Inc. Annual Report on Form 10-K for the year ended December 31, 2017, formatted in Extensible Business Reporting Langue (XBRL): (i) Consolidated Balance Sheets as of December 31, 2017 and December 31, 2016, (ii) Consolidated Statements of Operations for the years ended December 31, 2017, 2016 and 2015, (iii) Consolidated Statements of Stockholders&#39; Equity for the years ended December 31, 2017, 2016 and 2015, (iv) Consolidated Statements of Cash Flows for the years ended December 31, 2017, 2016 and 2015, and (v) Notes to Condensed Consolidated Financial Statements.</font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">___________________</p>

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			<td style="width:36pt;vertical-align:top;">*</td>
			<td style="vertical-align:top;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Filed herewith.</font></td>
		</tr>
		<tr>
			<td style="width:36pt;vertical-align:top;">**</td>
			<td style="vertical-align:top;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Indicates a management contract or compensatory plan or arrangement.</font></td>
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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">***</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files in Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended and otherwise are not subject to liability under those sections.</font></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">1)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed October 4, 2006.</font></p>
			</td>
		</tr>

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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">2)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s definitive Information Statement (Schedule 14C) filed August 18, 2006.</font></p>
			</td>
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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">3)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Annual Report on Form 10-K filed March 28, 2007.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">4)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed June 23, 2008.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">5)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed March 24, 2008.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">6)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Quarterly Report on Form 10-Q filed November 6, 2009.</font></p>
			</td>
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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">7)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Annual Report on Form 10-K filed March 8, 2010.</font></p>
			</td>
		</tr>

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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">8)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed April 14, 2010.</font></p>
			</td>
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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">9)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed April 28, 2010.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(1<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">0)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed August 2, 2013.</font></p>
			</td>
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</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(1<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">1)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed October 23, 2013.</font></p>
			</td>
		</tr>

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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(1<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">2)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed December 17, 2013.</font></p>
			</td>
		</tr>

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		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">13)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed March 2, 2015.</font></p>
			</td>
		</tr>

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<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(14<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Annual Report on Form 10-K filed March 20, 2015.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(15<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">)</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed May 14, 2015.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(16<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">) </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Incorporated by reference from the registrant&rsquo;s Quarterly Report on Form 10-Q filed November 12, 2015.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(17<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">) </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed June 16, 2016.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(18<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">) </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Incorporated by reference from the registrant&rsquo;s Annual Report on Form 10-K filed March 16, 2016.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">19) </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Incorporated by reference from the registrant&rsquo;s definitive Proxy Statement filed April 29, 2016.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(20<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">) </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Incorporated by reference from the registrant&rsquo;s Quarterly Report on Form 10-Q filed August 5, 2016.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(2<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">1) </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed May 9, 2017.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(2<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">2) </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed August 4, 2017.</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">(23<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">) </font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Incorporated by reference from the registrant&rsquo;s Current Report on Form 8-K filed March 6, 2018.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">33</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX LABS, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>INDEX TO 2017</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> CONSOLIDATED FINANCIAL STATEMENTS</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="margin: 0pt; width: 100%; text-indent: 0px; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Report of Independent Registered Public Accounting Firm</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">F-2</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Consolidated Balance Sheets as of December 31, 2017 and 2016</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">F-3</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Consolidated Statements of Operations for the years ended December 31, 2017, 2016 and 2015</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">F-4</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Consolidated Statements of Stockholders&rsquo; Equity for the years ended December 31, 2017, 2016 and 2015</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">F-5</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Consolidated Statements of Cash Flows for the years ended December 31, 2017, 2016 and 2015</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">F-6</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Notes to Consolidated Financial Statements</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">F-7</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Financial Statement Schedule:</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(255, 255, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">Schedule II &ndash; Valuation and Qualifying Accounts for the years ended</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; background-color: rgb(204, 238, 255);">
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 95%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: left;">December 31, 2017, 2016 and 2015</p>
			</td>
			<td style="vertical-align: top; border-bottom: 1px rgb(0, 0, 0); width: 5%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">F-16</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-1</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div style="text-align: center;"><img src="a1.jpg"></div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:21.6pt;margin-top:0pt;text-align:center;"><b>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">To the Stockholders and the Board of Directors of GeoVax Labs, Inc.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Opinion on the Consolidated Financial Statements</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">We have audited the accompanying consolidated balance sheets of GeoVax Labs, Inc. and subsidiary (the &ldquo;Company&rdquo;) as of December 31, 201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7 and 2016, the related consolidated statements of operations, stockholders&rsquo; equity and cash flows for each of the three years in the period ended December 31, 2017, and the related notes to the consolidated financial statements and schedule (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2017 and 2016, and the results of their operations and their cash flows for each of the years in the three-year period ended December 31, 2017, in conformity with accounting principles generally accepted in the United States of America.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated fin<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ancial statements, the Company has suffered recurring losses from operations and its total liabilities exceed its total assets. This raises substantial doubt about the Company&rsquo;s ability to continue as a going concern. Management&rsquo;s plans in regard to these matters also are described in Note 2 to the consolidated financial statements. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Basis for Opinion</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">These <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">consolidated financial statements are the responsibility of the Company&rsquo;s management. Our responsibility is to express an opinion on the Company&rsquo;s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">We conducted our audits in accordance with the standards of the<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness on the Company&rsquo;s internal control over financial reporting. Accordingly, we express no such opinion.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.</font></p>

<div><img src="a2.jpg"></div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">We have served as the Company<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s auditor since 2005.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Atlanta, Georgia</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">March <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">23, 2018</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">235 Peachtree Street NE | Suite 1800 | Atlanta, Georgia 30303 | Phone 404.588.4200 | Fax 404.588.4222</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;"><i>A member of Allinial Global</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-2</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div contenteditable="false" docsect="4" id="11198" sectdesc="Balance Sheet">&nbsp;</div>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>GEOVAX LABS, INC.</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b>CONSOLIDATED BALANCE SHEETS</b></p>

<p style="margin: 0pt;">&nbsp;</p>

<div data-td-statement-type="balance-sheet" data-td-taggable-table="" data-td-v2v-id="1521172731990" id="thunderdome-statement-827552">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="6" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">December 31,</p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">ASSETS</p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Current assets:</p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Cash and cash equivalents</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484478" style="font-weight: inherit; font-style: normal;">312,727</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484479" style="font-weight: inherit; font-style: normal;">454,030</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Grant funds receivable</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484480" style="font-weight: inherit; font-style: normal;">59,758</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484481" style="font-weight: inherit; font-style: normal;">28,074</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Prepaid expenses and other<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> current assets</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484482" style="font-weight: inherit; font-style: normal;">75,589</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484483" style="font-weight: inherit; font-style: normal;">62,275</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 63.2%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Total current assets</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484484" style="font-weight: inherit; font-style: normal;">448,074</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484485" style="font-weight: inherit; font-style: normal;">544,379</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Property and equipment, net</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484486" style="font-weight: inherit; font-style: normal;">31,151</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484487" style="font-weight: inherit; font-style: normal;">54,828</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Deposits</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484488" style="font-weight: inherit; font-style: normal;">11,010</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484489" style="font-weight: inherit; font-style: normal;">11,010</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Total assets</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484490" style="font-weight: inherit; font-style: normal;">490,235</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484491" style="font-weight: inherit; font-style: normal;">610,217</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">LIABILITIES AND STOCKHOLDERS<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo; EQUITY</font></p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Current liabilities:</p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Accounts payable</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484492" style="font-weight: inherit; font-style: normal;">77,581</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484493" style="font-weight: inherit; font-style: normal;">75,607</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Accrued expenses<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> (Note 4)</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484494" style="font-weight: inherit; font-style: normal;">733,711</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484495" style="font-weight: inherit; font-style: normal;">294,240</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Total current liabilities</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484496" style="font-weight: inherit; font-style: normal;">811,292</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484497" style="font-weight: inherit; font-style: normal;">369,847</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Commitments (Note 6<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">)</font></p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Stockholders<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo; equity (deficiency):</font></p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Preferred stock, $.01 par value<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">:</font></p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Authorized shares <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&ndash; 10,000,000</font></p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 45pt; text-indent: -9pt;">Series B<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> convertible preferred stock, $1,000 stated value; </font>100<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> shares issued and outstanding at December 31, 2017 </font>and 201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6, respectively</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484498" style="font-weight: inherit; font-style: normal;">76,095</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484499" style="font-weight: inherit; font-style: normal;">76,095</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 45pt; text-indent: -9pt;">Series C<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> convertible preferred stock, $1,000 stated value; </font>2,570<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> and 2,868 shares issued and outstanding at </font>December 31, 2017<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> and 2016, respectively</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484500" style="font-weight: inherit; font-style: normal;">842,990</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484501" style="font-weight: inherit; font-style: normal;">940,705</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 45pt; text-indent: -9pt;">Series D convertible preferred stock, $1,000 stated value; 1,000 and -0- shares issued and outstanding at December 31, 2017 and 2016<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, respectively</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484502" style="font-weight: inherit; font-style: normal;">980,000</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484503" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Common stock, $.001 par value<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">: </font></p>
			</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-left: 45pt; text-indent: -9pt;">Autho<font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">rized shares &ndash; 600,000,000 and 300,000,000 at </font>December 31, 2017 and 2016<font style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">, respectively</font></td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 45pt; text-indent: -9pt;">Issued and outstanding shares <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&ndash; 106,736,810 and 55,235,233 at </font>December 31, 2017 and 2016<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, respectively</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484504" style="font-weight: inherit; font-style: normal;">106,737</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484505" style="font-weight: inherit; font-style: normal;">55,235</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Additional paid-in capital</p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484506" style="font-weight: inherit; font-style: normal;">35,589,911</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484507" style="font-weight: inherit; font-style: normal;">34,914,963</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">Accumulated d<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">eficit</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484508" style="font-weight: inherit; font-style: normal;">(37,916,790</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484509" style="font-weight: inherit; font-style: normal;">(35,746,628</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Total stockholders<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo; equity (deficiency)</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484510" style="font-weight: inherit; font-style: normal;">(321,057</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484511" style="font-weight: inherit; font-style: normal;">240,370</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 36pt;">Total liabilities and stockholders<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo; equity</font></p>
			</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484512" style="font-weight: inherit; font-style: normal;">490,235</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484513" style="font-weight: inherit; font-style: normal;">610,217</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:2.7pt;margin-top:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-right:2.7pt;margin-top:0pt;text-align:center;">See accompanying notes to <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">consolidated financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-3</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<div contenteditable="false" docsect="5" id="11199" sectdesc="Income Statement">&nbsp;</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td colspan="17" style="vertical-align:top;width:100%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX LABS. INC.</b></p>
			</td>
		</tr>
		<tr>
			<td colspan="17" style="vertical-align:top;width:100%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CONSOLIDATED STATEMENTS OF OPERATIONS</b></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div data-td-statement-type="income" data-td-taggable-table="" data-td-v2v-id="1521172741307" id="thunderdome-statement-827553">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="10" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;">Years Ended December 31,</p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;">20<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">15</font></p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Grant <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">and collaboration revenue</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484524" style="font-weight: inherit; font-style: normal;">1,075,270</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484525" style="font-weight: inherit; font-style: normal;">828,918</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484526" style="font-weight: inherit; font-style: normal;">428,081</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Operating expenses:</p>
			</td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 48.9%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Research and development</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484527" style="font-weight: inherit; font-style: normal;">2,017,350</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484528" style="font-weight: inherit; font-style: normal;">1,970,859</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484529" style="font-weight: inherit; font-style: normal;">1,693,102</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">General and administrative</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484530" style="font-weight: inherit; font-style: normal;">1,232,368</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484531" style="font-weight: inherit; font-style: normal;">2,131,426</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484532" style="font-weight: inherit; font-style: normal;">1,429,731</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Total operating expenses</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484533" style="font-weight: inherit; font-style: normal;">3,249,718</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484534" style="font-weight: inherit; font-style: normal;">4,102,285</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484535" style="font-weight: inherit; font-style: normal;">3,122,833</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Loss from operations</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484536" style="font-weight: inherit; font-style: normal;">(2,174,448</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484537" style="font-weight: inherit; font-style: normal;">(3,273,367</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484538" style="font-weight: inherit; font-style: normal;">(2,694,752</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Other income<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">:</font></p>
			</td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Interest income</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484539" style="font-weight: inherit; font-style: normal;">4,286</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484540" style="font-weight: inherit; font-style: normal;">1,666</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484541" style="font-weight: inherit; font-style: normal;">5,465</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 18pt;">Total other income</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484542" style="font-weight: inherit; font-style: normal;">4,286</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484543" style="font-weight: inherit; font-style: normal;">1,666</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484544" style="font-weight: inherit; font-style: normal;">5,465</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Net loss</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484545" style="font-weight: inherit; font-style: normal;">(2,170,162</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484546" style="font-weight: inherit; font-style: normal;">(3,271,701</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484547" style="font-weight: inherit; font-style: normal;">(2,689,287</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Basic and diluted:</p>
			</td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 9pt; margin-top: 0pt; text-align: left;">Loss per common share</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484548" style="font-weight: inherit; font-style: normal;">(0.03</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484549" style="font-weight: inherit; font-style: normal;">(0.08</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484550" style="font-weight: inherit; font-style: normal;">(0.08</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 9pt; margin-top: 0pt; text-align: left;">Weighted average shares outstanding</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484551" style="font-weight: inherit; font-style: normal;">68,605,817</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484552" style="font-weight: inherit; font-style: normal;">41,516,514</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484553" style="font-weight: inherit; font-style: normal;">31,950,813</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">&nbsp;</p>

<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">See accompanying notes to<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> consolidated financial statements</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-4</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<div contenteditable="false" docsect="7" id="11200" sectdesc="Stockholders' Equity">&nbsp;</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;"><b>GEOVAX LABS, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;"><b>CONSOLIDATED STATEMENTS OF STOCKHOLDERS<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo; EQUITY</font></b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div data-td-statement-type="stockholders-equity" data-td-taggable-table="" data-td-v2v-id="1521172748267" id="thunderdome-statement-827554">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td colspan="6" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 15111%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Series B Convertible</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Preferred Stock</p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="6" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 15111%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Series C Convertible</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Preferred Stock</p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="6" id=".amt.D7" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 15111%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Series D Convertible</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Preferred Stock</p>
			</td>
			<td id=".trail.D7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D9" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="6" id=".amt.D9" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 15111%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Common Stock</p>
			</td>
			<td id=".trail.D9" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D10" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D10" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Additional</p>
			</td>
			<td id=".trail.D10" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".lead.D11" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D11" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>
			</td>
			<td id=".trail.D11" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td id=".lead.D12" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D12" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Total</p>
			</td>
			<td id=".trail.D12" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Shares</p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Amount</p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Shares</p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Amount</p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Shares</p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D7" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Amount</p>
			</td>
			<td id=".trail.D7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D8" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D8" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Shares</p>
			</td>
			<td id=".trail.D8" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D9" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D9" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Amount</p>
			</td>
			<td id=".trail.D9" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D10" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D10" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Paid-in</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Capital</p>
			</td>
			<td id=".trail.D10" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D11" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D11" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Accumulated</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Deficit</p>
			</td>
			<td id=".trail.D11" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td id=".lead.D12" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">&nbsp;</td>
			<td colspan="2" id=".amt.D12" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 1%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Stockholders<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;</font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Equity</p>
			</td>
			<td id=".trail.D12" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; width: 1%;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Balance at December 31, 2014</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484557" style="font-weight: inherit; font-style: normal;">100</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484558" style="font-weight: inherit; font-style: normal;">76,095</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484559" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484560" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484561" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484562" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484563" style="font-weight: inherit; font-style: normal;">31,950,813</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484564" style="font-weight: inherit; font-style: normal;">31,951</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484565" style="font-weight: inherit; font-style: normal;">30,823,769</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484566" style="font-weight: inherit; font-style: normal;">(29,785,640</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484567" style="font-weight: inherit; font-style: normal;">1,146,175</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Sale of convertible preferred stock for cash</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484568" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484569" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484570" style="font-weight: inherit; font-style: normal;">3,000</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484571" style="font-weight: inherit; font-style: normal;">983,941</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484572" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484573" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484574" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484575" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484576" style="font-weight: inherit; font-style: normal;">1,695,869</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484577" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484578" style="font-weight: inherit; font-style: normal;">2,679,810</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Stock-based compensation expense</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484579" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484580" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484581" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484582" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484583" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484584" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484585" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484586" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484587" style="font-weight: inherit; font-style: normal;">67,905</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484588" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484589" style="font-weight: inherit; font-style: normal;">67,905</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Net loss for the year ended December 31, 2015</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484590" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484591" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484592" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484593" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484594" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484595" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484596" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484597" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484598" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484599" style="font-weight: inherit; font-style: normal;">(2,689,287</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484600" style="font-weight: inherit; font-style: normal;">(2,689,287</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Balance at December 31, 2015</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484601" style="font-weight: inherit; font-style: normal;">100</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484602" style="font-weight: inherit; font-style: normal;">76,095</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484603" style="font-weight: inherit; font-style: normal;">3,000</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484604" style="font-weight: inherit; font-style: normal;">983,941</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484605" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484606" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484607" style="font-weight: inherit; font-style: normal;">31,950,813</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484608" style="font-weight: inherit; font-style: normal;">31,951</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484609" style="font-weight: inherit; font-style: normal;">32,587,543</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484610" style="font-weight: inherit; font-style: normal;">(32,474,927</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484611" style="font-weight: inherit; font-style: normal;">1,204,603</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Conversion of preferred stock to common stock</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484612" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484613" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484614" style="font-weight: inherit; font-style: normal;">(132</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484615" style="font-weight: inherit; font-style: normal;">(43,236</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484616" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484617" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484618" style="font-weight: inherit; font-style: normal;">1,400,000</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484619" style="font-weight: inherit; font-style: normal;">1,400</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484620" style="font-weight: inherit; font-style: normal;">41,836</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484621" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484622" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Sale of common stock for cash upon</font> <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> warrant exercise</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484623" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484624" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484625" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484626" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484627" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484628" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484629" style="font-weight: inherit; font-style: normal;">21,884,420</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484630" style="font-weight: inherit; font-style: normal;">21,884</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484631" style="font-weight: inherit; font-style: normal;">1,317,917</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484632" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484633" style="font-weight: inherit; font-style: normal;">1,339,801</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Stock-based compensation expense</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484634" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484635" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484636" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484637" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484638" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484639" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484640" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484641" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484642" style="font-weight: inherit; font-style: normal;">967,667</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484643" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484644" style="font-weight: inherit; font-style: normal;">967,667</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Net loss for the year ended December 31, 2016</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484645" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484646" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484647" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484648" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484649" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484650" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484651" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484652" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484653" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484654" style="font-weight: inherit; font-style: normal;">(3,271,701</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484655" style="font-weight: inherit; font-style: normal;">(3,271,701</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Balance at December 31, 2016</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484656" style="font-weight: inherit; font-style: normal;">100</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484657" style="font-weight: inherit; font-style: normal;">76,095</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484658" style="font-weight: inherit; font-style: normal;">2,868</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484659" style="font-weight: inherit; font-style: normal;">940,705</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484660" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484661" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484662" style="font-weight: inherit; font-style: normal;">55,235,233</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484663" style="font-weight: inherit; font-style: normal;">55,235</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484664" style="font-weight: inherit; font-style: normal;">34,914,963</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484665" style="font-weight: inherit; font-style: normal;">(35,746,628</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484666" style="font-weight: inherit; font-style: normal;">240,370</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Sale of convertible preferred stock for cash</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484667" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484668" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484669" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484670" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484671" style="font-weight: inherit; font-style: normal;">1,000</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484672" style="font-weight: inherit; font-style: normal;">980,000</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484673" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484674" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484675" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484676" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484677" style="font-weight: inherit; font-style: normal;">980,000</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Conversion of preferred stock to common stock</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484678" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484679" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484680" style="font-weight: inherit; font-style: normal;">(298</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484681" style="font-weight: inherit; font-style: normal;">(97,715</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484682" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484683" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484684" style="font-weight: inherit; font-style: normal;">19,862,000</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484685" style="font-weight: inherit; font-style: normal;">19,862</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484686" style="font-weight: inherit; font-style: normal;">77,853</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484687" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484688" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Sale of common stock for cash upon </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">warrant exercise</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484689" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484690" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484691" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484692" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484693" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484694" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484695" style="font-weight: inherit; font-style: normal;">31,639,577</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484696" style="font-weight: inherit; font-style: normal;">31,640</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484697" style="font-weight: inherit; font-style: normal;">539,871</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484698" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484699" style="font-weight: inherit; font-style: normal;">571,511</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Stock-based compensation expense</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484700" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484701" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484702" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484703" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484704" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484705" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484706" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484707" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484708" style="font-weight: inherit; font-style: normal;">57,224</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484709" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484710" style="font-weight: inherit; font-style: normal;">57,224</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 18pt; text-indent: -9pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Net loss for the year ended December 31, 2017</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484711" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484712" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484713" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484714" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484715" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484716" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484717" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484718" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484719" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484720" style="font-weight: inherit; font-style: normal;">(2,170,162</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484721" style="font-weight: inherit; font-style: normal;">(2,170,162</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 12%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Balance at December 31, 2017</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484722" style="font-weight: inherit; font-style: normal;">100</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484723" style="font-weight: inherit; font-style: normal;">76,095</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484724" style="font-weight: inherit; font-style: normal;">2,570</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484725" style="font-weight: inherit; font-style: normal;">842,990</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484726" style="font-weight: inherit; font-style: normal;">1,000</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.7" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484727" style="font-weight: inherit; font-style: normal;">980,000</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.8" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.8" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484728" style="font-weight: inherit; font-style: normal;">106,736,810</em></td>
			<td id=".trail.8" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.9" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.9" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484729" style="font-weight: inherit; font-style: normal;">106,737</em></td>
			<td id=".trail.9" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.10" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.10" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484730" style="font-weight: inherit; font-style: normal;">35,589,911</em></td>
			<td id=".trail.10" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.11" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.11" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484731" style="font-weight: inherit; font-style: normal;">(37,916,790</em></td>
			<td id=".trail.11" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td>
			<td id=".lead.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.12" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.12" style="width: 5%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484732" style="font-weight: inherit; font-style: normal;">(321,057</em></td>
			<td id=".trail.12" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">)</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-5</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<div contenteditable="false" docsect="8" id="11201" sectdesc="Cash Flows">&nbsp;</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td colspan="18" style="vertical-align:top;width:100%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX LABS. INC.</b></p>
			</td>
		</tr>
		<tr>
			<td colspan="18" style="vertical-align:top;width:100%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CONSOLIDATED STATEMENTS OF CASH FLOWS</b></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div data-td-statement-type="cash-flows" data-td-taggable-table="" data-td-v2v-id="1521172755978" id="thunderdome-statement-827555">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="10" id=".amt.D7" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;">Years Ended December 31,</p>
			</td>
			<td id=".trail.D7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.D7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D7" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0pt;margin-top:0pt;text-align:center;">20<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">15</font></p>
			</td>
			<td id=".trail.D7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Cash flows from operating activities:</p>
			</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B6" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B7" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; text-align: left;">Net loss</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484733" style="font-weight: inherit; font-style: normal;">(2,170,162</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484734" style="font-weight: inherit; font-style: normal;">(3,271,701</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484735" style="font-weight: inherit; font-style: normal;">(2,689,287</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; text-align: left;">Adjustments to reconcile net loss to net cash used in operating activities<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">:</font></p>
			</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B6" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B7" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 36pt; margin-top: 0pt; text-align: left;">Depreciation and amortization</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484736" style="font-weight: inherit; font-style: normal;">28,027</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484737" style="font-weight: inherit; font-style: normal;">28,780</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484738" style="font-weight: inherit; font-style: normal;">28,935</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 36pt; margin-top: 0pt; text-align: left;">Stock-based compensation expense</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484739" style="font-weight: inherit; font-style: normal;">57,224</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484740" style="font-weight: inherit; font-style: normal;">967,667</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484741" style="font-weight: inherit; font-style: normal;">67,905</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 36pt; margin-top: 0pt; text-align: left;">Changes in assets and liabilities<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">:</font></p>
			</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B6" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B7" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 43.6%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 45pt;">Grant funds receivable</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484742" style="font-weight: inherit; font-style: normal;">(31,684</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484743" style="font-weight: inherit; font-style: normal;">91,904</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484744" style="font-weight: inherit; font-style: normal;">(40,637</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 45pt;">Prepaid expenses and other current<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> assets</font></p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484745" style="font-weight: inherit; font-style: normal;">(13,314</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484746" style="font-weight: inherit; font-style: normal;">(5,626</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484747" style="font-weight: inherit; font-style: normal;">(12,146</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 45pt;">Accounts payable and accrued expenses</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484748" style="font-weight: inherit; font-style: normal;">441,445</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484749" style="font-weight: inherit; font-style: normal;">242,857</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484750" style="font-weight: inherit; font-style: normal;">(60,033</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 45pt;">Total adjustments</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484751" style="font-weight: inherit; font-style: normal;">481,698</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484752" style="font-weight: inherit; font-style: normal;">1,325,582</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484753" style="font-weight: inherit; font-style: normal;">(15,976</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; text-align: left;">Net cash used in operating activities</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484754" style="font-weight: inherit; font-style: normal;">(1,688,464</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484755" style="font-weight: inherit; font-style: normal;">(1,946,119</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484756" style="font-weight: inherit; font-style: normal;">(2,705,263</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
			<td id=".lead.B6">&nbsp;</td>
			<td id=".symb.B6">&nbsp;</td>
			<td id=".amt.B6">&nbsp;</td>
			<td id=".trail.B6">&nbsp;</td>
			<td id=".lead.B7">&nbsp;</td>
			<td id=".symb.B7">&nbsp;</td>
			<td id=".amt.B7">&nbsp;</td>
			<td id=".trail.B7">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Cash flows from investing activities:</p>
			</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B6" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B7" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; text-align: left;">Purchase of property and equipment</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484757" style="font-weight: inherit; font-style: normal;">(4,350</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484758" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484759" style="font-weight: inherit; font-style: normal;">(15,850</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; text-align: left;">Net cash <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">used in investing activities</font></p>
			</td>
			<td id=".lead.5" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484760" style="font-weight: inherit; font-style: normal;">(4,350</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484761" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484762" style="font-weight: inherit; font-style: normal;">(15,850</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
			<td id=".lead.B6">&nbsp;</td>
			<td id=".symb.B6">&nbsp;</td>
			<td id=".amt.B6">&nbsp;</td>
			<td id=".trail.B6">&nbsp;</td>
			<td id=".lead.B7">&nbsp;</td>
			<td id=".symb.B7">&nbsp;</td>
			<td id=".amt.B7">&nbsp;</td>
			<td id=".trail.B7">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Cash flows from financing activities:</p>
			</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B6" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B7" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B7" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; text-align: left;">Net p<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">roceeds from sale of preferred stock</font></p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484763" style="font-weight: inherit; font-style: normal;">980,000</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484764" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484765" style="font-weight: inherit; font-style: normal;">2,679,810</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; text-align: left;">Net p<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">roceeds from sale of common stock</font></p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484766" style="font-weight: inherit; font-style: normal;">571,511</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484767" style="font-weight: inherit; font-style: normal;">1,339,801</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484768" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 18pt; margin-top: 0pt; text-align: left;">Net cash provided<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> in financing activities</font></p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484769" style="font-weight: inherit; font-style: normal;">1,551,511</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484770" style="font-weight: inherit; font-style: normal;">1,339,801</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484771" style="font-weight: inherit; font-style: normal;">2,679,810</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
			<td id=".lead.B6">&nbsp;</td>
			<td id=".symb.B6">&nbsp;</td>
			<td id=".amt.B6">&nbsp;</td>
			<td id=".trail.B6">&nbsp;</td>
			<td id=".lead.B7">&nbsp;</td>
			<td id=".symb.B7">&nbsp;</td>
			<td id=".amt.B7">&nbsp;</td>
			<td id=".trail.B7">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Net <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">decrease in cash and cash equivalents</font></p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484772" style="font-weight: inherit; font-style: normal;">(141,303</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484773" style="font-weight: inherit; font-style: normal;">(606,318</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484774" style="font-weight: inherit; font-style: normal;">(41,303</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Cash and cash equivalents at beginning of period</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484775" style="font-weight: inherit; font-style: normal;">454,030</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484776" style="font-weight: inherit; font-style: normal;">1,060,348</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484777" style="font-weight: inherit; font-style: normal;">1,101,651</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
			<td id=".lead.B6">&nbsp;</td>
			<td id=".symb.B6">&nbsp;</td>
			<td id=".amt.B6">&nbsp;</td>
			<td id=".trail.B6">&nbsp;</td>
			<td id=".lead.B7">&nbsp;</td>
			<td id=".symb.B7">&nbsp;</td>
			<td id=".amt.B7">&nbsp;</td>
			<td id=".trail.B7">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-left: 0pt; margin-top: 0pt; text-align: left;">Cash and cash equivalents at end of period</p>
			</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484778" style="font-weight: inherit; font-style: normal;">312,727</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.6" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484779" style="font-weight: inherit; font-style: normal;">454,030</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.7" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.7" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484780" style="font-weight: inherit; font-style: normal;">1,060,348</em></td>
			<td id=".trail.7" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Supplemental disclosure of non-cash financing activities:</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 18pt; text-align: left;">As <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">discussed in Note 7, during the year ended December 31, 2017, 298 shares of Series C Convertible Preferred Stock were converted into 19,862,000 shares of common stock and during the year ended December 31, 2016, 132 shares of Series C Convertible Preferred Stock were converted into 1,400,000 shares of common stock. </font></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">See accompanying notes to<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> consolidated financial statements</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-6</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX LABS, INC. </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Years Ended December 31, </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>2017, 2016 and 2015</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-36pt;">&nbsp;</p>

<div contenteditable="false" docsect="9" id="11202" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172782850" id="thunderdome-statement-827556">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28484931" style="font-weight: inherit; font-style: normal;">1.</em><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font></b></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Description</b><b> of Business</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax Labs, Inc. (&ldquo;GeoVax&rdquo; or the &ldquo;Company&rdquo;), is a clinical-stage biotechnology company developing human vaccines using our novel vaccine platform. Our current development programs are focused on preventive vaccines against Human Immunodeficiency Virus (HIV), Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, Lassa), and malaria, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. We believe our technology and vaccine development expertise are well-suited for a variety of human infectious diseases and we intend to pursue further expansion of our product pipeline.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Certain of our vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and human clinical trials.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>take many years and often involves expenditure of substantial resources. Our goal is to build a profitable company by generating income from products we develop and commercialize, either alone or with <em data-td-fact-id="28484932" style="font-weight: inherit; font-style: normal;">one</em> or more potential strategic partners.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in Smyrna, Georgia (metropolitan Atlanta area). <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11203" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172794392" id="thunderdome-statement-827557">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28484933" style="font-weight: inherit; font-style: normal;">2.</em><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font></b></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Summary of Significant Accounting Policies</font></b></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Principles of Consolidation</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Basis of Presentation</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the <em data-td-fact-id="28484934" style="font-weight: inherit; font-style: normal;">twelve</em>-month period following the date of these consolidated financial statements. We are devoting substantially all of our present efforts to research and development. We have funded our activities to date from government grants and clinical trial assistance, and from sales of our equity securities. We will continue to require substantial funds to continue our research and development activities. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We believe that our existing cash resources and government funding commitments will be sufficient to continue our planned <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">operations into the <em data-td-fact-id="28484935" style="font-weight: inherit; font-style: normal;">third</em> quarter of <em data-td-fact-id="28484936" style="font-weight: inherit; font-style: normal;">2018.</em> Due to our history of operating losses and our continuing need for capital to conduct our research and development activities, there is substantial doubt concerning our ability to operate as a going concern beyond that date. We are currently exploring sources of capital through additional government grants and contracts. We also intend to secure additional funds through sales of our equity securities or by other means. Management believes that we will be successful in securing the additional capital required to continue the Company&rsquo;s planned operations, but that our plans do <em data-td-fact-id="28484937" style="font-weight: inherit; font-style: normal;">not</em> fully alleviate the substantial doubt about the Company&rsquo;s ability to operate as a going concern. Additional funding <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em><em data-td-fact-id="28484938" style="font-weight: inherit; font-style: normal;">not</em> be available on favorable terms or at all. If we fail to obtain additional capital when needed, we will be required to delay, scale back, or eliminate some or all of our research and development programs as well as reduce our general and administrative expenses.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-7</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Use of Estimates</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expense<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">s during the reporting period. Actual results <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>differ from those estimates.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Cash and Cash Equivalents</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We consider all highly liquid investments with a maturity of <em data-td-fact-id="28484939" style="font-weight: inherit; font-style: normal;">three</em> months or less when purchased to be cash equivalents. Our cash and cash equivalents consist primarily of bank depos<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">its and money market accounts. The recorded values approximate fair market values due to the short maturities.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Fair Value of Financial Instruments and Concentration of Credit Risk</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Property and Equipment</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Property and equipment are stated at cost, less accumulated<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from <em data-td-fact-id="28484940" style="font-weight: inherit; font-style: normal;">three</em> to <em data-td-fact-id="28484941" style="font-weight: inherit; font-style: normal;">five</em> years. We amortize leasehold improvements using the straight-line method over the term of the related lease. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> February 2016, </em>the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Financial Accounting Standards Board (FASB) issued Accounting Standards Update <em data-td-fact-id="28484942" style="font-weight: inherit; font-style: normal;">No.</em> <em data-td-fact-id="28484943" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484944" style="font-weight: inherit; font-style: normal;">02,</em> <i>Leases</i> (ASU <em data-td-fact-id="28484945" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484946" style="font-weight: inherit; font-style: normal;">02</em>). ASU <em data-td-fact-id="28484947" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484948" style="font-weight: inherit; font-style: normal;">02</em> requires lessees to recognize the assets and liabilities on their balance sheet for the rights and obligations created by most leases and continue to recognize expenses on their income statements over the lease term. It will also require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. The guidance is effective for annual reporting periods beginning after <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 15, 2018, </em>and interim periods within those years. Early adoption is permitted. We do <em data-td-fact-id="28484949" style="font-weight: inherit; font-style: normal;">not</em> currently know the impact ASU <em data-td-fact-id="28484950" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484951" style="font-weight: inherit; font-style: normal;">02</em> will have on our financial statements, which will be dependent upon the nature of any lease obligations we <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>have at the time of our adoption of ASU <em data-td-fact-id="28484952" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484953" style="font-weight: inherit; font-style: normal;">02.</em> </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Impairment of Long-Lived Assets</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em><em data-td-fact-id="28484954" style="font-weight: inherit; font-style: normal;">not</em> be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows expected t<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">o be generated by such assets. If we consider such assets to be impaired, the impairment to be<b> </b>recognized is measured by the amount by which the carrying amount of the assets exceeds the expected future net cash flows from the assets.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Accrued </i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Expenses</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have <em data-td-fact-id="28484955" style="font-weight: inherit; font-style: normal;">not</em> yet been billed by our <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><em data-td-fact-id="28484956" style="font-weight: inherit; font-style: normal;">third</em>-party vendors. This process involves identifying services and activities that have been performed by such vendors on our behalf and estimating the level to which they have been performed and the associated cost incurred for such service as of each balance sheet date. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Net Loss Per Share</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Basic and diluted loss per common share are computed based on the weighted average numbe<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">r of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. Common share equivalents which could potentially dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, totaled approximately <em data-td-fact-id="28484957" style="font-weight: inherit; font-style: normal;">245.3</em> million, <em data-td-fact-id="28484958" style="font-weight: inherit; font-style: normal;">93.9</em> million, and <em data-td-fact-id="28484959" style="font-weight: inherit; font-style: normal;">90.3</em> million at <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em><em data-td-fact-id="28484960" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28484961" style="font-weight: inherit; font-style: normal;">2015,</em> respectively. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-8</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Revenue Recognition</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During the years ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em><em data-td-fact-id="28484962" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28484963" style="font-weight: inherit; font-style: normal;">2015,</em> w<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">e recognized revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin <em data-td-fact-id="28484964" style="font-weight: inherit; font-style: normal;">No.</em> <em data-td-fact-id="28484965" style="font-weight: inherit; font-style: normal;">101,</em> <i>Revenue Recognition in Financial Statements, </i>as amended by Staff Accounting Bulletin <em data-td-fact-id="28484966" style="font-weight: inherit; font-style: normal;">No.</em> <em data-td-fact-id="28484967" style="font-weight: inherit; font-style: normal;">104,</em> <i>Revenue Recognition, </i>(SAB <em data-td-fact-id="28484968" style="font-weight: inherit; font-style: normal;">104</em>). SAB <em data-td-fact-id="28484969" style="font-weight: inherit; font-style: normal;">104</em> provides guidance in applying GAAP to revenue recognition issues, and specifically addresses revenue recognition for upfront, nonrefundable fees received in connection with research collaboration agreements. During <em data-td-fact-id="28484970" style="font-weight: inherit; font-style: normal;">2017,</em> <em data-td-fact-id="28484971" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28484972" style="font-weight: inherit; font-style: normal;">2015,</em> our revenue consisted primarily of grant and contract funding received from the NIH (see Note <em data-td-fact-id="28484973" style="font-weight: inherit; font-style: normal;">5</em>). Revenue from these arrangements is approximately equal to the costs incurred and is recorded as income as the related costs are incurred.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> May 2014, </em>the FASB issued Accounting Standards Update <em data-td-fact-id="28484974" style="font-weight: inherit; font-style: normal;">2014</em>-<em data-td-fact-id="28484975" style="font-weight: inherit; font-style: normal;">09,</em> <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Revenue from Contracts with Customers</i> (ASU <em data-td-fact-id="28484976" style="font-weight: inherit; font-style: normal;">2014</em>-<em data-td-fact-id="28484977" style="font-weight: inherit; font-style: normal;">09</em>), which creates a new Topic, Accounting Standards Codification Topic <em data-td-fact-id="28484978" style="font-weight: inherit; font-style: normal;">606.</em> The standard is principle-based and provides a <em data-td-fact-id="28484979" style="font-weight: inherit; font-style: normal;">five</em>-step model to determine when and how revenue is recognized. The core principle is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU <em data-td-fact-id="28484980" style="font-weight: inherit; font-style: normal;">2014</em>-<em data-td-fact-id="28484981" style="font-weight: inherit; font-style: normal;">09</em> is effective for the Company beginning <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> January 1, 2018. </em>We do <em data-td-fact-id="28484982" style="font-weight: inherit; font-style: normal;">not</em> believe the adoption of ASU <em data-td-fact-id="28484983" style="font-weight: inherit; font-style: normal;">2014</em>-<em data-td-fact-id="28484984" style="font-weight: inherit; font-style: normal;">09</em> will have a material impact on our financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Research and Development Expense</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">(i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to <em data-td-fact-id="28484985" style="font-weight: inherit; font-style: normal;">third</em>-party service providers to perform, monitor and accumulate data related to our preclinical studies and clinical trials, (iv) costs related to sponsored research agreements, and (v) the costs to procure and manufacture materials used in clinical trials. These costs are charged to expense as incurred.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Patent Costs</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>&nbsp;</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Period to Period Comparisons</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should <em data-td-fact-id="28484986" style="font-weight: inherit; font-style: normal;">not</em> be relied upon as predictive of the results for future periods.<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Income Taxes</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities a<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">nd their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than <em data-td-fact-id="28484987" style="font-weight: inherit; font-style: normal;">not</em> that some portion or all of the deferred tax assets will be realized.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Stock-Based Compensation</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the aw<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ard at the grant date. Compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Compensation cost for stock options or warrants is estimated at the grant date based on each instrument&rsquo;s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note <em data-td-fact-id="28484988" style="font-weight: inherit; font-style: normal;">9</em> for additional stock-based compensation information. </font></p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-9</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> March 2016, </em>the <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">FASB issued Accounting Standards Update <em data-td-fact-id="28484989" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484990" style="font-weight: inherit; font-style: normal;">09,</em> <i>Improvements to Employee Share-Based Payment Accounting</i> (&ldquo;ASU <em data-td-fact-id="28484991" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484992" style="font-weight: inherit; font-style: normal;">09&rdquo;</em>), which amends Accounting Standards Codification Topic <em data-td-fact-id="28484993" style="font-weight: inherit; font-style: normal;">718,</em> Compensation &ndash; Stock Compensation. ASU <em data-td-fact-id="28484994" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484995" style="font-weight: inherit; font-style: normal;">09</em> is an attempt to simplify several aspects of the accounting for stock-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. We adopted ASU <em data-td-fact-id="28484996" style="font-weight: inherit; font-style: normal;">2016</em>-<em data-td-fact-id="28484997" style="font-weight: inherit; font-style: normal;">09</em> effective <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> January 1, 2017; </em>such adoption had <em data-td-fact-id="28484998" style="font-weight: inherit; font-style: normal;">no</em> material impact on our financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> May 2017, </em>the FASB issued Accounting Standards Update <em data-td-fact-id="28484999" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485000" style="font-weight: inherit; font-style: normal;">09,</em> <i>Scope of Modification</i><i> Accounting</i> (&ldquo;ASU <em data-td-fact-id="28485001" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485002" style="font-weight: inherit; font-style: normal;">09&rdquo;</em>), which amends Accounting Standards Codification Topic <em data-td-fact-id="28485003" style="font-weight: inherit; font-style: normal;">718,</em> Compensation &ndash; Stock Compensation. ASU <em data-td-fact-id="28485004" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485005" style="font-weight: inherit; font-style: normal;">09</em> is an attempt to provide clarity and reduce both (<em data-td-fact-id="28485006" style="font-weight: inherit; font-style: normal;">1</em>) diversity in practice and (<em data-td-fact-id="28485007" style="font-weight: inherit; font-style: normal;">2</em>) cost and complexity when applying the guidance in Topic <em data-td-fact-id="28485008" style="font-weight: inherit; font-style: normal;">718</em> Compensation &ndash; Stock Compensation, to a change to the terms or conditions of a share-based payment award. ASU <em data-td-fact-id="28485009" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485010" style="font-weight: inherit; font-style: normal;">09</em> is effective for the Company beginning <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> January&nbsp;</em><em data-td-fact-id="28485011" style="font-weight: inherit; font-style: normal;">1,</em> <em data-td-fact-id="28485012" style="font-weight: inherit; font-style: normal;">2018.</em> We do <em data-td-fact-id="28485013" style="font-weight: inherit; font-style: normal;">not</em> believe the adoption of ASU <em data-td-fact-id="28485014" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485015" style="font-weight: inherit; font-style: normal;">09</em> will have a material impact on our financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Other </i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Recent Accounting Pronouncements</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> July 2017, </em>the FASB issued Accounting Standards Update <em data-td-fact-id="28485016" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485017" style="font-weight: inherit; font-style: normal;">11,</em> <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>(Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception</i> (&ldquo;ASU <em data-td-fact-id="28485018" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485019" style="font-weight: inherit; font-style: normal;">11&rdquo;</em>), which amends Accounting Standards Codification Topic <em data-td-fact-id="28485020" style="font-weight: inherit; font-style: normal;">260,</em> Earnings Per Share, Topic <em data-td-fact-id="28485021" style="font-weight: inherit; font-style: normal;">480,</em> Distinguishing Liabilities from Equity, and Topic <em data-td-fact-id="28485022" style="font-weight: inherit; font-style: normal;">815,</em> Derivatives and Hedging. ASU <em data-td-fact-id="28485023" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485024" style="font-weight: inherit; font-style: normal;">11</em> changes the classification of certain equity-linked financial instruments (or embedded features) with down round features and clarifies existing disclosure requirements for equity-classified instruments. ASU <em data-td-fact-id="28485025" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485026" style="font-weight: inherit; font-style: normal;">11</em> is effective for the Company beginning <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> January&nbsp;</em><em data-td-fact-id="28485027" style="font-weight: inherit; font-style: normal;">1,</em> <em data-td-fact-id="28485028" style="font-weight: inherit; font-style: normal;">2019.</em> We are currently evaluating the impact of the adoption of ASU <em data-td-fact-id="28485029" style="font-weight: inherit; font-style: normal;">2017</em>-<em data-td-fact-id="28485030" style="font-weight: inherit; font-style: normal;">11</em> on our financial statements.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Except as discussed above, t<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">here have been <em data-td-fact-id="28485031" style="font-weight: inherit; font-style: normal;">no</em> recent accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements, nor do we believe that any recently issued, but <em data-td-fact-id="28485032" style="font-weight: inherit; font-style: normal;">not</em> yet effective, accounting standards if currently adopted would have a material effect on our financial statements. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11204" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172802485" id="thunderdome-statement-827608">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485033" style="font-weight: inherit; font-style: normal;">3.</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Property and Equipment</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Property and equipment<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> as shown on the accompanying Consolidated Balance Sheets is composed of the following as of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017 </em>and <em data-td-fact-id="28485034" style="font-weight: inherit; font-style: normal;">2016:</em></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172802485" id="thunderdome-statement-827609">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="margin-right: 5%; margin-left: 18pt; width: 95%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 68%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Laboratory equipment</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484786" style="font-weight: inherit; font-style: normal;">530,306</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484787" style="font-weight: inherit; font-style: normal;">525,956</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Leasehold improvements</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484788" style="font-weight: inherit; font-style: normal;">115,605</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484789" style="font-weight: inherit; font-style: normal;">115,605</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other furniture, fixtures &amp; equipment</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484790" style="font-weight: inherit; font-style: normal;">28,685</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484791" style="font-weight: inherit; font-style: normal;">28,685</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total property and equipment</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484792" style="font-weight: inherit; font-style: normal;">674,596</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484793" style="font-weight: inherit; font-style: normal;">670,246</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Accumulated depreciation and amortization</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484794" style="font-weight: inherit; font-style: normal;">(643,445</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484795" style="font-weight: inherit; font-style: normal;">(615,418</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Property and equipment, net</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484796" style="font-weight: inherit; font-style: normal;">31,151</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484797" style="font-weight: inherit; font-style: normal;">54,828</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Depreciation and <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">leasehold amortization expense was <em data-td-fact-id="28485035" style="font-weight: inherit; font-style: normal;">$28,027,</em> <em data-td-fact-id="28485036" style="font-weight: inherit; font-style: normal;">$28,780,</em> and <em data-td-fact-id="28485037" style="font-weight: inherit; font-style: normal;">$28,935</em> during the years ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em><em data-td-fact-id="28485038" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28485039" style="font-weight: inherit; font-style: normal;">2015,</em> respectively.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11205" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172830742" id="thunderdome-statement-827560">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485040" style="font-weight: inherit; font-style: normal;">4.</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b> </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Accrued Expenses</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Accrued expenses as shown on the accompanying Consolidated Balance Sheets is composed of the following as of <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017 </em>and <em data-td-fact-id="28485041" style="font-weight: inherit; font-style: normal;">2016:</em></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172830741" id="thunderdome-statement-827561">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="margin-right: 5%; margin-left: 18pt; width: 95%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2017</p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2016</p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 68%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Accrued <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">management salaries</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484798" style="font-weight: inherit; font-style: normal;">532,615</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484799" style="font-weight: inherit; font-style: normal;">201,170</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Accrued directors<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo; fees</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484800" style="font-weight: inherit; font-style: normal;">182,620</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484801" style="font-weight: inherit; font-style: normal;">78,070</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Other<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> accrued expenses</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484802" style="font-weight: inherit; font-style: normal;">18,476</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484803" style="font-weight: inherit; font-style: normal;">15,000</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Total accrued expenses</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484804" style="font-weight: inherit; font-style: normal;">733,711</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484805" style="font-weight: inherit; font-style: normal;">294,240</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-10</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><b>&nbsp;</b></p>
</div>

<div contenteditable="false" docsect="9" id="11206" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172838717" id="thunderdome-statement-827562">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485042" style="font-weight: inherit; font-style: normal;">5</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Grants</b><b> and </b><b>Collaboration Revenue</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Government Grants and Contracts</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We receive payments from government entities under our grants and contracts with the National Institute of Allergy and Infectious Diseases in support of certain of our vaccine research and development efforts. We record revenue associated with government grants and contracts as the reimbursable costs are incurred. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">During <em data-td-fact-id="28485043" style="font-weight: inherit; font-style: normal;">2017,</em> <em data-td-fact-id="28485044" style="font-weight: inherit; font-style: normal;">2016,</em> and <em data-td-fact-id="28485045" style="font-weight: inherit; font-style: normal;">2015,</em> we recorded <em data-td-fact-id="28485046" style="font-weight: inherit; font-style: normal;">$980,270,</em> <em data-td-fact-id="28485047" style="font-weight: inherit; font-style: normal;">$828,918,</em> and <em data-td-fact-id="28485048" style="font-weight: inherit; font-style: normal;">$428,081,</em> respectively, of revenue associated with these grants and contracts. As of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>there is an aggregate of <em data-td-fact-id="28485049" style="font-weight: inherit; font-style: normal;">$481,695</em> in remaining grant funds available for use during <em data-td-fact-id="28485050" style="font-weight: inherit; font-style: normal;">2018.</em></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Collaboration Revenue</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> March 2017, </em>we entered into a clinical trial collaboration agreement with American Gene Technologies International, Inc. (&ldquo;AGT&rdquo;) whereby AGT intends to conduct a phase <em data-td-fact-id="28485051" style="font-weight: inherit; font-style: normal;">1</em> human clinical trial investigating our combined technologies as a functional cure for HIV infection. In connection with the agreement, AGT paid to us a non-refundable fee of <em data-td-fact-id="28485052" style="font-weight: inherit; font-style: normal;">$95,000,</em> which we recorded as collaboration revenue during <em data-td-fact-id="28485053" style="font-weight: inherit; font-style: normal;">2017.</em></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11207" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172845361" id="thunderdome-statement-827563">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485054" style="font-weight: inherit; font-style: normal;">6</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Commitments</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Lease Agreement</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We lease approximately <em data-td-fact-id="28485055" style="font-weight: inherit; font-style: normal;">8</em><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><em data-td-fact-id="28485056" style="font-weight: inherit; font-style: normal;">,400</em> square feet of office and laboratory space pursuant to an operating lease which expires on <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2018. </em>Rent expense for the years ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em><em data-td-fact-id="28485057" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28485058" style="font-weight: inherit; font-style: normal;">2015</em> was <em data-td-fact-id="28485059" style="font-weight: inherit; font-style: normal;">$151,748,</em> <em data-td-fact-id="28485060" style="font-weight: inherit; font-style: normal;">$149,288,</em> and <em data-td-fact-id="28485061" style="font-weight: inherit; font-style: normal;">$146,092,</em> respectively. Future minimum lease payments total <em data-td-fact-id="28485062" style="font-weight: inherit; font-style: normal;">$156,545</em> in <em data-td-fact-id="28485063" style="font-weight: inherit; font-style: normal;">2018.</em> </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Other Commitments</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In the normal course of business, we <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>enter into various firm purchase commitments related to production and testing of our vaccine material, conduct of clinical trials, and other research-related act<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ivities. As of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>we had approximately <em data-td-fact-id="28485064" style="font-weight: inherit; font-style: normal;">$79,000</em> of unrecorded outstanding purchase commitments to our vendors and subcontractors, all of which we expect will be due in <em data-td-fact-id="28485065" style="font-weight: inherit; font-style: normal;">2018.</em> We expect this entire amount to be reimbursable to us pursuant to currently outstanding government grants.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11208" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172855068" id="thunderdome-statement-827564">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485066" style="font-weight: inherit; font-style: normal;">7</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Preferred Stock</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Series B Convertible Preferred Stock</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our Series B Convertible Preferred Stock, <em data-td-fact-id="28485067" style="font-weight: inherit; font-style: normal;">$1,000</em> stated value (&ldquo;Series B Preferred Stock&rdquo;), has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">a liquidation preference equal to the stated value per share. The Series B Preferred Stock has <em data-td-fact-id="28485068" style="font-weight: inherit; font-style: normal;">no</em> voting rights and is <em data-td-fact-id="28485069" style="font-weight: inherit; font-style: normal;">not</em> entitled to a dividend. As of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>there were <em data-td-fact-id="28485070" style="font-weight: inherit; font-style: normal;">100</em> shares of </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Series B Preferred Stock outstanding, convertible at any time at the option of the holder into <em data-td-fact-id="28485071" style="font-weight: inherit; font-style: normal;">285,714</em> shares of common stock.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Series C Convertible Preferred Stock</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> February 2015, </em>we issued <em data-td-fact-id="28485072" style="font-weight: inherit; font-style: normal;">3,000</em> shares of our Series C Convertible Preferred Stock, <em data-td-fact-id="28485073" style="font-weight: inherit; font-style: normal;">$1,000</em> stated value (&ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Series C Preferred Stock&rdquo;) and warrants to purchase up to an aggregate of <em data-td-fact-id="28485074" style="font-weight: inherit; font-style: normal;">51,333,331</em> shares of our common stock for total net proceeds of <em data-td-fact-id="28485075" style="font-weight: inherit; font-style: normal;">$2,679,810.</em> We allocated <em data-td-fact-id="28485076" style="font-weight: inherit; font-style: normal;">$1,695,869</em> of the purchase price to the fair value of the warrants issued in the transaction (recorded to Additional Paid-in Capital) and recorded the net amount of <em data-td-fact-id="28485077" style="font-weight: inherit; font-style: normal;">$983,941</em> as the initial carrying value of the Series C Preferred Stock.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Series C Preferred Stock has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including a liquidation preference equal to the stated value per share. The Series C Preferred Stock has <em data-td-fact-id="28485078" style="font-weight: inherit; font-style: normal;">no</em> voting rights and is <em data-td-fact-id="28485079" style="font-weight: inherit; font-style: normal;">not</em> entitled to a dividend.</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The Series C Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, and contains price adjustment provisions which <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may, </em>under certain circumstances, reduce the conversion price if we sell, or grant options to purchase, our common stock at a price lower than the then conversion price of the Series C Preferred Stock. During <em data-td-fact-id="28485080" style="font-weight: inherit; font-style: normal;">2016,</em> <em data-td-fact-id="28485081" style="font-weight: inherit; font-style: normal;">132</em> shares of Series C Preferred Stock were converted into <em data-td-fact-id="28485082" style="font-weight: inherit; font-style: normal;">1,400,000</em> shares of common stock. During <em data-td-fact-id="28485083" style="font-weight: inherit; font-style: normal;">2017,</em> <em data-td-fact-id="28485084" style="font-weight: inherit; font-style: normal;">298</em> shares of Series C Preferred Stock were converted into <em data-td-fact-id="28485085" style="font-weight: inherit; font-style: normal;">19,862,000</em> shares of common stock. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">In <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> May 2017, </em>in connection with the issuance of our Series D Convertible Preferred Stock discussed below, the conversion price of our Series C Preferred Stock was automatically reduced from <em data-td-fact-id="28485086" style="font-weight: inherit; font-style: normal;">$0.05</em> per share to <em data-td-fact-id="28485087" style="font-weight: inherit; font-style: normal;">$0.015</em> per share. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">As of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>there were <em data-td-fact-id="28485088" style="font-weight: inherit; font-style: normal;">2,570</em> shares of </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Series C Preferred Stock outstanding, convertible into <em data-td-fact-id="28485089" style="font-weight: inherit; font-style: normal;">171,349,733</em> shares of common stock.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-11</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Series D Convertible Preferred Stock</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> May 2017, </em>we issued <em data-td-fact-id="28485090" style="font-weight: inherit; font-style: normal;">1,000</em> shares of our Series D Convertible Preferred Stock, <em data-td-fact-id="28485091" style="font-weight: inherit; font-style: normal;">$1,000</em> stated value (&ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Series D Preferred Stock&rdquo;), for gross proceeds of <em data-td-fact-id="28485092" style="font-weight: inherit; font-style: normal;">$1.0</em> million. Net proceeds, after deduction of certain expenses, were <em data-td-fact-id="28485093" style="font-weight: inherit; font-style: normal;">$980,000.</em></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Each share of Series D Preferred Stock is entitled to a liquidation preference equal to the initial purchase price, has <em data-td-fact-id="28485094" style="font-weight: inherit; font-style: normal;">no</em> voting rights, and <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">is <em data-td-fact-id="28485095" style="font-weight: inherit; font-style: normal;">not</em> entitled to a dividend. The Series D Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, with an initial conversion price of <em data-td-fact-id="28485096" style="font-weight: inherit; font-style: normal;">$0.015</em> per share. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">The Series D Preferred Shares contains price adjustment provisions, which <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may, </em>under certain circumstances, reduce the conversion price on future dates according to a formula based on the then-current market price for our common stock.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We assessed the Series D Preferred Stock under ASC Topic <em data-td-fact-id="28485097" style="font-weight: inherit; font-style: normal;">480,</em> &ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Distinguishing Liabilities from Equity</i>&rdquo; (&ldquo;ASC <em data-td-fact-id="28485098" style="font-weight: inherit; font-style: normal;">480&rdquo;</em>), ASC Topic <em data-td-fact-id="28485099" style="font-weight: inherit; font-style: normal;">815,</em> &ldquo;<i>Derivatives and Hedging</i>&rdquo; (&ldquo;ASC <em data-td-fact-id="28485100" style="font-weight: inherit; font-style: normal;">815&rdquo;</em>), and ASC Topic <em data-td-fact-id="28485101" style="font-weight: inherit; font-style: normal;">470,</em> &ldquo;<i>Debt</i>&rdquo; (&ldquo;ASC <em data-td-fact-id="28485102" style="font-weight: inherit; font-style: normal;">470&rdquo;</em>). The Series D Preferred Stock contains an embedded feature allowing an optional conversion by the holder into common stock which meets the definition of a derivative. However, we determined that the preferred stock is an &ldquo;equity host&rdquo; (as described by ASC <em data-td-fact-id="28485103" style="font-weight: inherit; font-style: normal;">815</em>) for purposes of assessing the embedded derivative for potential bifurcation and that the optional conversion feature is clearly and closely associated to the preferred stock host; therefore, the embedded derivative does <em data-td-fact-id="28485104" style="font-weight: inherit; font-style: normal;">not</em> require bifurcation and separate recognition under ASC <em data-td-fact-id="28485105" style="font-weight: inherit; font-style: normal;">815.</em> We determined there to be a beneficial conversion feature (&ldquo;BCF&rdquo;) requiring recognition at its intrinsic value. Since the conversion option of the preferred stock was immediately exercisable, the amount allocated to the BCF was immediately accreted to preferred dividends, resulting in an increase in the carrying value of the preferred stock.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11209" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172863152" id="thunderdome-statement-827610">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485106" style="font-weight: inherit; font-style: normal;">8</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>.</b><b> </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Common Stock</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Increase in Authorized Shares of Common Stock</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">At a special meeting of our stockholders held on <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> August 4, 2017, </em>our stockholders approved an amendment to our certificate of incorporation to increase our authorized shares of common stock from <em data-td-fact-id="28485107" style="font-weight: inherit; font-style: normal;">300,000,000</em> to <em data-td-fact-id="28485108" style="font-weight: inherit; font-style: normal;">600,000,000</em> shares. The amendment to our certificate of incorporation was filed with the Delaware Secretary of State on <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> August 4, 2017.</em></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Common Stock Transactions</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">D<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">uring <em data-td-fact-id="28485109" style="font-weight: inherit; font-style: normal;">2017</em> and <em data-td-fact-id="28485110" style="font-weight: inherit; font-style: normal;">2016,</em> we issued <em data-td-fact-id="28485111" style="font-weight: inherit; font-style: normal;">19,862,000</em> and <em data-td-fact-id="28485112" style="font-weight: inherit; font-style: normal;">1,400,000</em> shares of our common stock, respectively, pursuant to the conversion of our Series C Preferred Stock (see Note <em data-td-fact-id="28485113" style="font-weight: inherit; font-style: normal;">7</em>). </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During <em data-td-fact-id="28485114" style="font-weight: inherit; font-style: normal;">2017,</em> we issued <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><em data-td-fact-id="28485115" style="font-weight: inherit; font-style: normal;">31,639,577</em> shares of our common stock related to the exercise of stock purchase warrants, resulting in net proceeds to us of <em data-td-fact-id="28485116" style="font-weight: inherit; font-style: normal;">$571,511.</em> During <em data-td-fact-id="28485117" style="font-weight: inherit; font-style: normal;">2016,</em> we issued <em data-td-fact-id="28485118" style="font-weight: inherit; font-style: normal;">21,884,420</em> shares of our common stock related to the exercise of stock purchase warrants, resulting in net proceeds of <em data-td-fact-id="28485119" style="font-weight: inherit; font-style: normal;">$1,339,801.</em> </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Stock Option Plans</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <em data-td-fact-id="28485120" style="font-weight: inherit; font-style: normal;">2006</em> we adopted the GeoVax Labs, Inc. <em data-td-fact-id="28485121" style="font-weight: inherit; font-style: normal;">2006</em> Equity Incentive Plan (the <em data-td-fact-id="28485122" style="font-weight: inherit; font-style: normal;">&ldquo;2006</em> Plan&rdquo;) and <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">during <em data-td-fact-id="28485123" style="font-weight: inherit; font-style: normal;">2016,</em> our stockholders approved the GeoVax Labs, Inc. <em data-td-fact-id="28485124" style="font-weight: inherit; font-style: normal;">2016</em> Stock Incentive Plan (the <em data-td-fact-id="28485125" style="font-weight: inherit; font-style: normal;">&ldquo;2016</em> Plan&rdquo;) which provides our Board of Directors broad discretion in creating equity incentives for employees, officers, directors and consultants. We have reserved <em data-td-fact-id="28485126" style="font-weight: inherit; font-style: normal;">1,550,300</em> shares of our common stock for currently outstanding stock options under the <em data-td-fact-id="28485127" style="font-weight: inherit; font-style: normal;">2006</em> Plan, and <em data-td-fact-id="28485128" style="font-weight: inherit; font-style: normal;">6,000,000</em> shares for outstanding stock options and future issuances under the <em data-td-fact-id="28485129" style="font-weight: inherit; font-style: normal;">2016</em> Plan. The <em data-td-fact-id="28485130" style="font-weight: inherit; font-style: normal;">2016</em> Plan replaces the <em data-td-fact-id="28485131" style="font-weight: inherit; font-style: normal;">2006</em> Plan, which expired <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> September 28, 2016, </em>and <em data-td-fact-id="28485132" style="font-weight: inherit; font-style: normal;">no</em> further grants <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>be made under the <em data-td-fact-id="28485133" style="font-weight: inherit; font-style: normal;">2006</em> Plan. As such, the <em data-td-fact-id="28485134" style="font-weight: inherit; font-style: normal;">2016</em> Plan will serve as the sole equity incentive compensation plan for the Company</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The exercise price for any option granted <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em><em data-td-fact-id="28485135" style="font-weight: inherit; font-style: normal;">not</em> be less than fair value (<em data-td-fact-id="28485136" style="font-weight: inherit; font-style: normal;">110%</em> of fair value for ISO&rsquo;s granted to certain employees). Options have a maximum <em data-td-fact-id="28485137" style="font-weight: inherit; font-style: normal;">ten</em>-year term and generally vest over <em data-td-fact-id="28485138" style="font-weight: inherit; font-style: normal;">three</em> years. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-12</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Certain information concerning our stock opti<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">on plans as of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>and a summary of activity during the year then ended is presented below:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172863151" id="thunderdome-statement-827611">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Number</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">of Shares</p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted-</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Average</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Exercise</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Price</p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted-</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Average</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Remaining</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Contractual</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Term (yrs)</p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Aggregate</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Intrinsic</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Value</p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 52%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484806" style="font-weight: inherit; font-style: normal;">3,499,475</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484807" style="font-weight: inherit; font-style: normal;">1.21</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.B4" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><em data-td-fact-id="28484808" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B4" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><em data-td-fact-id="28484809" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B5" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Granted</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484810" style="font-weight: inherit; font-style: normal;">3,680,000</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt;"><em data-td-fact-id="28484811" style="font-weight: inherit; font-style: normal;">0.05</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><em data-td-fact-id="28484812" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><em data-td-fact-id="28484813" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercised</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484814" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484815" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><em data-td-fact-id="28484816" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><em data-td-fact-id="28484817" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Forfeited or expired</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484818" style="font-weight: inherit; font-style: normal;">(155,200</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484819" style="font-weight: inherit; font-style: normal;">15.25</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484820" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484821" style="font-weight: inherit; font-style: normal;">&nbsp;</em></td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484822" style="font-weight: inherit; font-style: normal;">7,024,275</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484823" style="font-weight: inherit; font-style: normal;">0.29</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484824" style="font-weight: inherit; font-style: normal;">8.8</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484825" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercisable at December 31, 201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484826" style="font-weight: inherit; font-style: normal;">1,951,484</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484827" style="font-weight: inherit; font-style: normal;">0.90</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484828" style="font-weight: inherit; font-style: normal;">6.6</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484829" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Stock Purchase</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i> Warrants</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>&nbsp;</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The following table presents a summary of stock purchase warrant <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">activity during the year ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017:</em></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172863151" id="thunderdome-statement-827612">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Number of Shares</p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted Average</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Exercise Price</p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 70%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 2016</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484830" style="font-weight: inherit; font-style: normal;">32,751,578</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484831" style="font-weight: inherit; font-style: normal;">0.07</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Issued</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484832" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484833" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercised</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484834" style="font-weight: inherit; font-style: normal;">(31,639,577</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484835" style="font-weight: inherit; font-style: normal;">0.02</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Forfeited or expired</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484836" style="font-weight: inherit; font-style: normal;">(1,112,001</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484837" style="font-weight: inherit; font-style: normal;">0.57</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">and exercisable at December 31, 2017</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484838" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484839" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Common Stock Reserved</i></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">A summary<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> of common stock reserved for future issuance as of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017 </em>is as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172863152" id="thunderdome-statement-827613">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="margin-right: 20%; width: 80%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 81%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Stock Option Plans</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484840" style="font-weight: inherit; font-style: normal;">7,550,300</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series B Convertible Preferred Stock</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484841" style="font-weight: inherit; font-style: normal;">285,714</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series C Convertible Preferred Stock</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484842" style="font-weight: inherit; font-style: normal;">171,349,733</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series D Convertible Preferred Stock</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484843" style="font-weight: inherit; font-style: normal;">66,666,666</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484844" style="font-weight: inherit; font-style: normal;">245,852,413</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11210" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172870799" id="thunderdome-statement-827569">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485139" style="font-weight: inherit; font-style: normal;">9</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>.</b><b> </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Stock-Based Compensation</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Stock Option Plan</i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>s</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows:</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172870797" id="thunderdome-statement-827614">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">15</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Weighted average risk-free interest rates</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484845" style="font-weight: inherit; font-style: normal;">2.40</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484846" style="font-weight: inherit; font-style: normal;">2.26</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
			<td id=".lead.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484847" style="font-weight: inherit; font-style: normal;">1.99</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected dividend yield</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484848" style="font-weight: inherit; font-style: normal;">0.0</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484849" style="font-weight: inherit; font-style: normal;">0.0</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484850" style="font-weight: inherit; font-style: normal;">0.0</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected life of option (yrs)</p>
			</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">7.0</p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484852" style="font-weight: inherit; font-style: normal;">7.0</em></td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484853" style="font-weight: inherit; font-style: normal;">7.0</em></td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected volatility</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484854" style="font-weight: inherit; font-style: normal;">89.73</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484855" style="font-weight: inherit; font-style: normal;">88.72</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484856" style="font-weight: inherit; font-style: normal;">91.43</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Stock-based compensation expense related to <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">our stock option plans was <em data-td-fact-id="28485140" style="font-weight: inherit; font-style: normal;">$57,224,</em> <em data-td-fact-id="28485141" style="font-weight: inherit; font-style: normal;">$54,805,</em> and <em data-td-fact-id="28485142" style="font-weight: inherit; font-style: normal;">$67,905</em> during the years ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em><em data-td-fact-id="28485143" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28485144" style="font-weight: inherit; font-style: normal;">2015,</em> respectively. Stock option expense is allocated to research and development expense or to general and administrative expense based on the nature of the services provided by the related individuals. For the <em data-td-fact-id="28485145" style="font-weight: inherit; font-style: normal;">three</em> years ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>stock option expense was allocated as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-13</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172870797" id="thunderdome-statement-827571">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">15</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">General and administrative expense</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484857" style="font-weight: inherit; font-style: normal;">31,271</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484858" style="font-weight: inherit; font-style: normal;">31,191</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484859" style="font-weight: inherit; font-style: normal;">45,822</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Research and development expense</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484860" style="font-weight: inherit; font-style: normal;">25,953</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484861" style="font-weight: inherit; font-style: normal;">23,614</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484862" style="font-weight: inherit; font-style: normal;">22,083</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total stock option expense</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484863" style="font-weight: inherit; font-style: normal;">57,224</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484864" style="font-weight: inherit; font-style: normal;">54,805</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484865" style="font-weight: inherit; font-style: normal;">67,905</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">As of <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, </em><em data-td-fact-id="28485146" style="font-weight: inherit; font-style: normal;">201</em><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><em data-td-fact-id="28485147" style="font-weight: inherit; font-style: normal;">7,</em> there was <em data-td-fact-id="28485148" style="font-weight: inherit; font-style: normal;">$218,280</em> of unrecognized compensation expense related to stock-based compensation arrangements pursuant to our stock option plans. The unrecognized compensation expense is expected to be recognized over a weighted average remaining period of <em data-td-fact-id="28485149" style="font-weight: inherit; font-style: normal;">2.6</em> years.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Additional information concerning our stock options for t<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">he years ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em><em data-td-fact-id="28485150" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28485151" style="font-weight: inherit; font-style: normal;">2015</em> is as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172870798" id="thunderdome-statement-827572">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Weighted average fair value of options granted</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484866" style="font-weight: inherit; font-style: normal;">0.04</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484867" style="font-weight: inherit; font-style: normal;">0.05</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484868" style="font-weight: inherit; font-style: normal;">0.09</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Intrinsic value of options exercised</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484869" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484870" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484871" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total fair value of options vested</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484872" style="font-weight: inherit; font-style: normal;">58,337</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484873" style="font-weight: inherit; font-style: normal;">54,757</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484874" style="font-weight: inherit; font-style: normal;">66,622</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><i>Other </i><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Non-E</i><i>mp</i><i>loyee Stock-Based C</i><i>ompensation</i></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We recorded <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">general and administrative expense of $-<em data-td-fact-id="28485152" style="font-weight: inherit; font-style: normal;">0</em>-, <em data-td-fact-id="28485153" style="font-weight: inherit; font-style: normal;">$912,862</em> and $-<em data-td-fact-id="28485154" style="font-weight: inherit; font-style: normal;">0</em>- during the years ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em><em data-td-fact-id="28485155" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28485156" style="font-weight: inherit; font-style: normal;">2015,</em> respectively, related to modifications made to certain stock purchase warrants.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11211" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172876920" id="thunderdome-statement-827573">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485157" style="font-weight: inherit; font-style: normal;">10</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Retirement Plan</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We participate in a multi-employer defined contribution retirement plan (the <em data-td-fact-id="28485158" style="font-weight: inherit; font-style: normal;">&ldquo;401k</em><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Plan&rdquo;) administered by a <em data-td-fact-id="28485159" style="font-weight: inherit; font-style: normal;">third</em>-party service provider, and the Company contributes to the <em data-td-fact-id="28485160" style="font-weight: inherit; font-style: normal;">401k</em> Plan on behalf of its employees based upon a matching formula. During the years ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em><em data-td-fact-id="28485161" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28485162" style="font-weight: inherit; font-style: normal;">2015</em> our contributions to the <em data-td-fact-id="28485163" style="font-weight: inherit; font-style: normal;">401k</em> Plan were <em data-td-fact-id="28485164" style="font-weight: inherit; font-style: normal;">$29,265,</em> <em data-td-fact-id="28485165" style="font-weight: inherit; font-style: normal;">$33,871,</em> and <em data-td-fact-id="28485166" style="font-weight: inherit; font-style: normal;">$40,296,</em> respectively.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11212" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172885170" id="thunderdome-statement-827574">
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;">

		<tr style="vertical-align: top;">
			<td style="width: 36pt;">
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b><em data-td-fact-id="28485167" style="font-weight: inherit; font-style: normal;">11</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>. </b></font></p>
			</td>
			<td>
			<p style="margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Income Taxes</b></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">At <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017</em><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, we have a consolidated federal net operating loss (&ldquo;NOL&rdquo;) carryforward of approximately <em data-td-fact-id="28485168" style="font-weight: inherit; font-style: normal;">$70.9</em> million, available to offset against future taxable income which expires in varying amounts in <em data-td-fact-id="28485169" style="font-weight: inherit; font-style: normal;">2019</em> through <em data-td-fact-id="28485170" style="font-weight: inherit; font-style: normal;">2037.</em> Additionally, we have approximately <em data-td-fact-id="28485171" style="font-weight: inherit; font-style: normal;">$949,000</em> in research and development (&ldquo;R&amp;D&rdquo;) tax credits that expire in <em data-td-fact-id="28485172" style="font-weight: inherit; font-style: normal;">2022</em> through <em data-td-fact-id="28485173" style="font-weight: inherit; font-style: normal;">2037</em> unless utilized earlier. <em data-td-fact-id="28485174" style="font-weight: inherit; font-style: normal;">No</em> income taxes have been paid to date. Section <em data-td-fact-id="28485175" style="font-weight: inherit; font-style: normal;">382</em> of the Internal Revenue Code contains provisions that <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>limit our utilization of our NOL and R&amp;D tax credit carryforwards in any given year as a result of significant changes in ownership interests that have occurred in past periods or <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> may </em>occur in future periods.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 22, 2017, </em>the Tax Cuts and Jobs Act (the &ldquo;Tax Act&rdquo;) was enacted into law in the United States. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">The Tax Act makes broad changes to the U.S. tax code, including, but <em data-td-fact-id="28485176" style="font-weight: inherit; font-style: normal;">not</em> limited to, reducing the U.S. federal corporate tax rate from <em data-td-fact-id="28485177" style="font-weight: inherit; font-style: normal;">35%</em> to <em data-td-fact-id="28485178" style="font-weight: inherit; font-style: normal;">21%.</em> With regard to the Tax Act impact to the Company for the year ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017, </em>we have recognized the impact of tax reform related to the revaluation of deferred tax assets and liabilities based on the rates we expect them to reverse in the future, which is generally <em data-td-fact-id="28485179" style="font-weight: inherit; font-style: normal;">21%.</em> The amount recorded as tax expense related to the remeasurement of the deferred tax balance was approximately <em data-td-fact-id="28485180" style="font-weight: inherit; font-style: normal;">$10.1</em> million, which was fully offset by a reduction in the valuation allowance.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-14</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities included th<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">e following at <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 31, 2017 </em>and <em data-td-fact-id="28485181" style="font-weight: inherit; font-style: normal;">2016:</em></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172885168" id="thunderdome-statement-827575">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Deferred tax assets:</p>
			</td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 64%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Net operating loss carryforward</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484875" style="font-weight: inherit; font-style: normal;">16,273,259</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484876" style="font-weight: inherit; font-style: normal;">24,689,298</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Research and development tax credit carryforward</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484877" style="font-weight: inherit; font-style: normal;">949,340</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484878" style="font-weight: inherit; font-style: normal;">892,231</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Stock-based compensation expense</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484879" style="font-weight: inherit; font-style: normal;">1,709,867</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484880" style="font-weight: inherit; font-style: normal;">2,748,899</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Accrued salaries and directors<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo; fees</font></p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484881" style="font-weight: inherit; font-style: normal;">185,961</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484882" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Depreciation</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484883" style="font-weight: inherit; font-style: normal;">5,532</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484884" style="font-weight: inherit; font-style: normal;">1,331</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Total deferred tax assets</p>
			</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484885" style="font-weight: inherit; font-style: normal;">19,123,959</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484886" style="font-weight: inherit; font-style: normal;">28,331,759</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Deferred tax liabilities</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484887" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484888" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Net deferred tax assets</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484889" style="font-weight: inherit; font-style: normal;">19,123,959</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484890" style="font-weight: inherit; font-style: normal;">28,331,759</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Valuation allowance</p>
			</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484891" style="font-weight: inherit; font-style: normal;">(19,123,959</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484892" style="font-weight: inherit; font-style: normal;">(28,331,759</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Net deferred tax asset after reduction for valuation allowance</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484893" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484894" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have established a full valuation allowance equal to the amount of our net deferred tax assets due to uncertainties with respect to our ability to generate sufficient taxable income to realize these assets in the future. A reconciliation of the income tax benefit on losses at the U.S. federal statutory rate to the reported income tax expense is as follows:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172885169" id="thunderdome-statement-827576">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">15</font></p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">U.S. federal statutory rate applied to pretax loss</p>
			</td>
			<td id=".lead.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484896" style="font-weight: inherit; font-style: normal;">(737,855</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484897" style="font-weight: inherit; font-style: normal;">(1,112,378</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
			<td id=".lead.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484898" style="font-weight: inherit; font-style: normal;">(936,936</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Permanent differences</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484899" style="font-weight: inherit; font-style: normal;">436</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484900" style="font-weight: inherit; font-style: normal;">2,012</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484901" style="font-weight: inherit; font-style: normal;">2,914</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Research and development credits</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484902" style="font-weight: inherit; font-style: normal;">57,109</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484903" style="font-weight: inherit; font-style: normal;">59,087</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484904" style="font-weight: inherit; font-style: normal;">67,901</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Impact of Tax Act</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484905" style="font-weight: inherit; font-style: normal;">10,086,795</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484906" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484907" style="font-weight: inherit; font-style: normal;">-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Change in valuation allowance</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484908" style="font-weight: inherit; font-style: normal;">(9,406,485</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484909" style="font-weight: inherit; font-style: normal;">1,051,279</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><em data-td-fact-id="28484910" style="font-weight: inherit; font-style: normal;">866,121</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Reported income tax expense</p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.2" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484911" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.3" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484912" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td>
			<td id=".amt.4" style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><em data-td-fact-id="28484913" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11213" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172919291" id="thunderdome-statement-827577">
<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b><em data-td-fact-id="28485182" style="font-weight: inherit; font-style: normal;">12</em></b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b><b>Subsequent Event</b><b>s</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> January </em>and <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> February 2018, </em><em data-td-fact-id="28485183" style="font-weight: inherit; font-style: normal;">300</em> shares of Series D Preferred Stock were converted into <em data-td-fact-id="28485184" style="font-weight: inherit; font-style: normal;">20,000,000</em> shares of common stock.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> February 2018, </em>we issued <em data-td-fact-id="28485185" style="font-weight: inherit; font-style: normal;">5,000,000</em> shares of our common stock in connection with entering into a financial advisory and investment banking agreement.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> February 28, 2018, </em>we entered into a Senior Note Purchase Agreement with Georgia Research Alliance, Inc. (GRA) pursuant to which we issued a <em data-td-fact-id="28485186" style="font-weight: inherit; font-style: normal;">five</em>-year Senior Promissory Note (the &ldquo;Note&rdquo;) in exchange for <em data-td-fact-id="28485187" style="font-weight: inherit; font-style: normal;">$50,000.</em> The Note bears an annual interest rate of <em data-td-fact-id="28485188" style="font-weight: inherit; font-style: normal;">5%,</em> payable monthly, with principal repayments beginning in the <em data-td-fact-id="28485189" style="font-weight: inherit; font-style: normal;">second</em> year. In connection with the Note, we also issued to the GRA a <em data-td-fact-id="28485190" style="font-weight: inherit; font-style: normal;">five</em>-year warrant to purchase <em data-td-fact-id="28485191" style="font-weight: inherit; font-style: normal;">178,571</em> shares of our common stock at a purchase price of <em data-td-fact-id="28485192" style="font-weight: inherit; font-style: normal;">$0.042</em> per share.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> March </em><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><em data-td-fact-id="28485193" style="font-weight: inherit; font-style: normal;">5,</em> <em data-td-fact-id="28485194" style="font-weight: inherit; font-style: normal;">2018,</em> we sold shares of our Series E convertible preferred stock to certain institutional investors for an aggregate purchase price of <em data-td-fact-id="28485195" style="font-weight: inherit; font-style: normal;">$600,000.</em> The preferred stock is convertible at any time into shares of our common stock at <em data-td-fact-id="28485196" style="font-weight: inherit; font-style: normal;">$0.08</em> per share (<em data-td-fact-id="28485197" style="font-weight: inherit; font-style: normal;">7,500,000</em> shares in the aggregate), subject to possible adjustment as provided in the certificate of designation.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-thunderdome-xbrl-exclude="1" id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">F-15</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>
</div>

<div contenteditable="false" docsect="9" id="11214" sectdesc="Note to Financial Statements">&nbsp;</div>

<div data-td-parse-id="1" data-td-statement-type="note" data-td-v2v-id="1521172930314" id="thunderdome-statement-827578">
<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX LABS, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SCHEDULE II <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&ndash; VALUATION AND QUALIFYING ACCOUNTS</font></b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>For t</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>he Years Ended <em data-td-invalid-detail="1" style="font-weight: inherit; font-style: normal;"> December 3</em></b><b><em data-td-fact-id="28485198" style="font-weight: inherit; font-style: normal;">1,</em> <em data-td-fact-id="28485199" style="font-weight: inherit; font-style: normal;">2017,</em> <em data-td-fact-id="28485200" style="font-weight: inherit; font-style: normal;">2016</em> and <em data-td-fact-id="28485201" style="font-weight: inherit; font-style: normal;">2015</em></b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<div data-td-parse-id="1" data-td-taggable-table="table" data-td-v2v-id="1521172930313" id="thunderdome-statement-827579">
<table border="0" cellpadding="0" cellspacing="0" class="finTable" id="null" style="width: 100%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px;">

		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td colspan="6" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Additions</p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom;">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Description</p>
			</td>
			<td id=".lead.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Balance at</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Beginning</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Of Period</p>
			</td>
			<td id=".trail.D2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D3" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Charged to</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Costs and</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Expenses</p>
			</td>
			<td id=".trail.D3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D4" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Charged to</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Other</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Accounts</p>
			</td>
			<td id=".trail.D4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D5" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Deductions</p>
			</td>
			<td id=".trail.D5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td id=".lead.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td>
			<td colspan="2" id=".amt.D6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Balance at</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">End</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Of Period</p>
			</td>
			<td id=".trail.D6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Reserve Deducted in the Balance Sheet<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> From the Asset to Which it Applies:</font></p>
			</td>
			<td id=".lead.B2" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B2" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B6" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B6" style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B6" style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td>&nbsp;</td>
			<td id=".lead.B2">&nbsp;</td>
			<td id=".symb.B2">&nbsp;</td>
			<td id=".amt.B2">&nbsp;</td>
			<td id=".trail.B2">&nbsp;</td>
			<td id=".lead.B3">&nbsp;</td>
			<td id=".symb.B3">&nbsp;</td>
			<td id=".amt.B3">&nbsp;</td>
			<td id=".trail.B3">&nbsp;</td>
			<td id=".lead.B4">&nbsp;</td>
			<td id=".symb.B4">&nbsp;</td>
			<td id=".amt.B4">&nbsp;</td>
			<td id=".trail.B4">&nbsp;</td>
			<td id=".lead.B5">&nbsp;</td>
			<td id=".symb.B5">&nbsp;</td>
			<td id=".amt.B5">&nbsp;</td>
			<td id=".trail.B5">&nbsp;</td>
			<td id=".lead.B6">&nbsp;</td>
			<td id=".symb.B6">&nbsp;</td>
			<td id=".amt.B6">&nbsp;</td>
			<td id=".trail.B6">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Allowance for Deferred Tax Assets</p>
			</td>
			<td id=".lead.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B2" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B2" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B3" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B3" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B4" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B4" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B5" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B5" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".lead.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.B6" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".trail.B6" style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">7</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484914" style="font-weight: inherit; font-style: normal;">28,331,759</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484915" style="font-weight: inherit; font-style: normal;">9,207,800</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484916" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484917" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><em data-td-fact-id="28484918" style="font-weight: inherit; font-style: normal;">19,123,959</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">6</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"><em data-td-fact-id="28484919" style="font-weight: inherit; font-style: normal;">27,131,034</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"><em data-td-fact-id="28484920" style="font-weight: inherit; font-style: normal;">1,200,725</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"><em data-td-fact-id="28484921" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"><em data-td-fact-id="28484922" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"><em data-td-fact-id="28484923" style="font-weight: inherit; font-style: normal;">28,331,759</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>
		<tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);">
			<td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">5</font></p>
			</td>
			<td id=".lead.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.2" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.2" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"><em data-td-fact-id="28484924" style="font-weight: inherit; font-style: normal;">26,021,943</em></td>
			<td id=".trail.2" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.3" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.3" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"><em data-td-fact-id="28484925" style="font-weight: inherit; font-style: normal;">1,109,094</em></td>
			<td id=".trail.3" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.4" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.4" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"><em data-td-fact-id="28484926" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.4" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.5" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.5" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"><em data-td-fact-id="28484927" style="font-weight: inherit; font-style: normal;">-0-</em></td>
			<td id=".trail.5" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
			<td id=".lead.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".symb.6" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td id=".amt.6" style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"><em data-td-fact-id="28484928" style="font-weight: inherit; font-style: normal;">27,131,034</em></td>
			<td id=".trail.6" nowrap="true" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td>
		</tr>

</table>
</div>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">F-<em data-td-fact-id="28485202" style="font-weight: inherit; font-style: normal;">16</em></p>
</div>

<p>&nbsp;</p>
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<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>2
<FILENAME>ex_107977.htm
<DESCRIPTION>EXHIBIT 10.1.2
<TEXT>
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	<title>ex_107977.htm</title>

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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1.2</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>, INC.</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SALARY DEFERRAL AGREEMENT</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">This Salary <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Deferral Agreement (the &ldquo;Agreement&rdquo;) is entered into as of April 25, 2016 by and between GeoVax, Inc., a Georgia Corporation (the &ldquo;Company&rdquo;), and <b>Robert T. McNally</b> (the &ldquo;Employee&rdquo;).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company&rsquo;s cash resources; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, as part of its cash conservation measures, the Company is asking certain of its employees to accept salary reductions and/or deferrals; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, Employee currently is currently earning an annualized gross salary of $275,000 (&ldquo;Base Salary&rdquo;), which has been previously reduced by 40% to $165,000, based on Employee&rsquo;s reduction of his time devoted to the Company&rsquo;s business; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Now, therefore</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the parties hereby agree as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Effective May 1, 2016, Employee agrees to accept a deferral of all but $25,000 of his Base Salary, which amount will be accrued and paid to Employee as described below.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Discontinuance of Salary Reduction and/or Deferral</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee&rsquo;s Salary Deferral pursuant to this Agreement shall end upon the earlier of (i) a significant event (to include financing, corporate partnership, etc., as determined by the Company), or (ii) December 31, 2016 (the &ldquo;Discontinuance Date&rdquo;).</td>
		</tr>

</table>

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		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Payment of Accumulated Deferred Salary.</p>
			</td>
		</tr>
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			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>ACCEPTANCE</b></u></p>

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		<tr>
			<td colspan="2" rowspan="1" style="width: 6%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td style="width: 11%;">&nbsp;</td>
			<td style="width: 15%; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td>
			<td style="width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 6%;">Employee</td>
			<td style="width: 28%;">&nbsp;</td>
			<td style="width: 11%;">&nbsp;</td>
			<td style="width: 15%;">Date</td>
			<td style="width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 6%;">&nbsp;</td>
			<td style="width: 28%;">&nbsp;</td>
			<td style="width: 11%;">&nbsp;</td>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 6%;">&nbsp;</td>
			<td style="width: 28%;">&nbsp;</td>
			<td style="width: 11%;">&nbsp;</td>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 6%;">Agreed:</td>
			<td style="border-bottom: thin solid rgb(0, 0, 0); width: 28%;">&nbsp;</td>
			<td style="width: 11%;">&nbsp;</td>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 6%;">&nbsp;</td>
			<td style="width: 28%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">GeoVax, Inc.</font></td>
			<td style="width: 11%;">&nbsp;</td>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 40%;">&nbsp;</td>
		</tr>
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			<td style="width: 6%;">&nbsp;</td>
			<td style="width: 28%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">By:</font></td>
			<td style="width: 11%;">&nbsp;</td>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 40%;">&nbsp;</td>
		</tr>

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<DOCUMENT>
<TYPE>EX-10.13
<SEQUENCE>3
<FILENAME>ex_107978.htm
<DESCRIPTION>EXHIBIT 10.1.3
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1.3</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>, INC.</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>AMENDMENT NO. 1 TO </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>SALARY DEFERRAL AGREEMENT</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">This <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Amendment No. 1 to Salary Deferral Agreement (the &ldquo;Agreement&rdquo;) is entered into as of July 1, 2017 by and between GeoVax, Inc., a Georgia Corporation (the &ldquo;Company&rdquo;), and <b>Robert T. McNally</b> (the &ldquo;Employee&rdquo;).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee entered into a Salary Deferral Agreement (the &ldquo;Original Agreement&rdquo;) dated April 25, 2016; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company&rsquo;s cash resources; and as part of its cash conservation measures, the Company has asked certain of its employees to accept salary reductions and/or deferrals; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee acknowledge that the Original Agreement and this amendment have been entered into for the express purpose of conserving the Company&rsquo;s cash resources and not for executive compensation tax planning purposes, and </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, Employee currently is currently earning an annualized gross salary of $275,000 (&ldquo;Base Salary&rdquo;), which has been previously reduced by 40% to $165,000, based on Employee&rsquo;s reduction of his time devoted to the Company&rsquo;s business; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Now, therefore</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the parties hereby agree as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Accumulated Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee acknowledges his prior verbal agreement to continue the salary deferral pursuant to the Original Agreement through June 30, 2017. The Company and Employee acknowledge and agree that the accumulated amount of deferred salary owed to Employee as of June 30, 2017 is $164,374.91.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-27pt;">&nbsp;</p>

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		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Continuation of Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee agrees to continue deferral of all but $25,000 of his Base Salary, which amount will be accrued and paid to Employee as described below.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">3.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Discontinuance of Salary Reduction and/or Deferral</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee&rsquo;s Salary Deferral pursuant to this Agreement shall end upon the occurrence of a significant event (to include financing, corporate partnership, etc., as determined solely by the Company) (the &ldquo;Discontinuance Date&rdquo;).</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-27pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">4.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Payment of Accumulated Deferred Salary.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>ACCEPTANCE</b></u></p>

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		<tr>
			<td colspan="2" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Employee</p>
			</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date</p>
			</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Agreed:</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax, Inc.</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;">&nbsp;</p>
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<DOCUMENT>
<TYPE>EX-10.22
<SEQUENCE>4
<FILENAME>ex_107979.htm
<DESCRIPTION>EXHIBIT 10.2.2
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.2.2</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>, INC.</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SALARY DEFERRAL AGREEMENT</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">This Salary <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Deferral Agreement (the &ldquo;Agreement&rdquo;) is entered into as of April 25, 2016 by and between GeoVax, Inc., a Georgia Corporation (the &ldquo;Company&rdquo;), and <b>Mark </b><b>W. </b><b>Reynolds</b> (the &ldquo;Employee&rdquo;).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company&rsquo;s cash resources; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, as part of its cash conservation measures, the Company is asking certain of its employees to accept salary reductions and/or deferrals; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, Employee currently is currently earning an annualized gross salary of $234,392 (&ldquo;Base Salary&rdquo;); </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Now, therefore</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the parties hereby agree as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Effective May 1, 2016, Employee agrees to accept a deferral of 40% of his Base Salary, which amount will be accrued and paid to Employee as described below.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:9pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Discontinuance of Salary Reduction and/or Deferral</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee&rsquo;s Salary Deferral pursuant to this Agreement shall end upon the earlier of (i) a significant event (to include financing, corporate partnership, etc., as determined by the Company), or (ii) December 31, 2016 (the &ldquo;Discontinuance Date&rdquo;).</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Payment of Accumulated Deferred Salary.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>ACCEPTANCE</b></u></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td colspan="2" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Employee</p>
			</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date</p>
			</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Agreed:</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax, Inc.</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;">&nbsp;</p>
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<DOCUMENT>
<TYPE>EX-10.23
<SEQUENCE>5
<FILENAME>ex_107980.htm
<DESCRIPTION>EXHIBIT 10.2.3
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.2.3</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>, INC.</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>AMENDMENT NO. 1 TO </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>SALARY DEFERRAL AGREEMENT</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">This <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Amendment No. 1 to Salary Deferral Agreement (the &ldquo;Agreement&rdquo;) is entered into as of July 1, 2017 by and between GeoVax, Inc., a Georgia Corporation (the &ldquo;Company&rdquo;), and <b>Mark W. Reynolds</b> (the &ldquo;Employee&rdquo;).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee entered into a Salary Deferral Agreement (the &ldquo;Original Agreement&rdquo;) dated April 25, 2016; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company&rsquo;s cash resources; and as part of its cash conservation measures, the Company has asked certain of its employees to accept salary reductions and/or deferrals; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee acknowledge that the Original Agreement and this amendment have been entered into for the express purpose of conserving the Company&rsquo;s cash resources and not for executive compensation tax planning purposes, and </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, Employee currently is currently earning an annualized gross salary of $234,392 (&ldquo;Base Salary&rdquo;); </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Now, therefore</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the parties hereby agree as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Accumulated Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee acknowledges his prior verbal agreement to continue the salary deferral pursuant to the Original Agreement through June 30, 2017. The Company and Employee acknowledge and agree that the accumulated amount of deferred salary owed to Employee as of June 30, 2017 is $109,382.84.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-27pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Continuation of Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee agrees to continue deferral of 40% of his Base Salary, which amount will be accrued and paid to Employee as described below.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">3.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Discontinuance of Salary Reduction and/or Deferral</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee&rsquo;s Salary Deferral pursuant to this Agreement shall end upon the occurrence of a significant event (to include financing, corporate partnership, etc., as determined solely by the Company) (the &ldquo;Discontinuance Date&rdquo;).</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-27pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">4.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Payment of Accumulated Deferred Salary.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>ACCEPTANCE</b></u></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td colspan="2" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Employee</p>
			</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date</p>
			</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Agreed:</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax, Inc.</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>

</table>

<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>
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<DOCUMENT>
<TYPE>EX-10.32
<SEQUENCE>6
<FILENAME>ex_107981.htm
<DESCRIPTION>EXHIBIT 10.3.2
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.3.2</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>, INC.</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SALARY DEFERRAL AGREEMENT</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">This Salary <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Deferral Agreement (the &ldquo;Agreement&rdquo;) is entered into as of April 25, 2016 by and between GeoVax, Inc., a Georgia Corporation (the &ldquo;Company&rdquo;), and <b>Harriet L. Robinson</b> (the &ldquo;Employee&rdquo;).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company&rsquo;s cash resources; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, as part of its cash conservation measures, the Company is asking certain of its employees to accept salary reductions and/or deferrals; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, Employee currently is currently earning an annualized gross salary of $265,750 (&ldquo;Base Salary&rdquo;), which has been previously reduced by 50% to $132,875, based on Employee&rsquo;s reduction of her time devoted to the Company&rsquo;s business; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Now, therefore</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the parties hereby agree as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee agrees to accept a deferral of 50% of her remaining Base Salary as previously reduced, which amount will be accrued and paid to Employee as described below.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Discontinuance of Salary Reduction and/or Deferral</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee&rsquo;s Salary Deferral pursuant to this Agreement shall end upon the earlier of (i) a significant event (to include financing, corporate partnership, etc., as determined by the Company), or (ii) December 31, 2016 (the &ldquo;Discontinuance Date&rdquo;).</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-27pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Payment of Accumulated Deferred Salary.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>ACCEPTANCE</b></u></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td colspan="2" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Employee</p>
			</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date</p>
			</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Agreed:</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax, Inc.</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>

</table>
</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.33
<SEQUENCE>7
<FILENAME>ex_107982.htm
<DESCRIPTION>EXHIBIT 10.3.3
<TEXT>
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	<title>ex_107982.htm</title>

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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.3.3</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>, INC.</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>AMENDMENT NO. 1 TO </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>SALARY DEFERRAL AGREEMENT</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">This <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Amendment No. 1 to Salary Deferral Agreement (the &ldquo;Agreement&rdquo;) is entered into as of July 1, 2017 by and between GeoVax, Inc., a Georgia Corporation (the &ldquo;Company&rdquo;), and <b>Harriet L. Robinson</b> (the &ldquo;Employee&rdquo;).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee entered into a Salary Deferral Agreement (the &ldquo;Original Agreement&rdquo;) dated April 25, 2016; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company&rsquo;s cash resources; and as part of its cash conservation measures, the Company has asked certain of its employees to accept salary reductions and/or deferrals; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee acknowledge that the Original Agreement and this amendment have been entered into for the express purpose of conserving the Company&rsquo;s cash resources and not for executive compensation tax planning purposes, and </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, Employee currently is currently earning an annualized gross salary of $265,750 (&ldquo;Base Salary&rdquo;), which has been previously reduced by 50% to $132,875, based on Employee&rsquo;s reduction of her time devoted to the Company&rsquo;s business; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Now, therefore</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the parties hereby agree as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Accumulated Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee acknowledges his prior verbal agreement to continue the salary deferral pursuant to the Original Agreement through June 30, 2017. The Company and Employee acknowledge and agree that the accumulated amount of deferred salary owed to Employee as of June 30, 2017 is $77,510.44</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-27pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Continuation of Salary Deferral.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee agrees to continue deferral 50% of her Base Salary as previously reduced, which amount will be accrued and paid to Employee as described below.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">3.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Discontinuance of Salary Reduction and/or Deferral</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee&rsquo;s Salary Deferral pursuant to this Agreement shall end upon the occurrence of a significant event (to include financing, corporate partnership, etc., as determined solely by the Company) (the &ldquo;Discontinuance Date&rdquo;).</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-27pt;">&nbsp;</p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">4.</p>
			</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Payment of Accumulated Deferred Salary.</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>ACCEPTANCE</b></u></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td colspan="2" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Employee</p>
			</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date</p>
			</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Agreed:</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax, Inc.</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;">&nbsp;</p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.42
<SEQUENCE>8
<FILENAME>ex_107983.htm
<DESCRIPTION>EXHIBIT 10.4.2
<TEXT>
<html>
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	<title>ex_107983.htm</title>

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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.4.2</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>, INC.</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SALARY DEFERRAL AGREEMENT</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">This Salary <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Deferral Agreement (the &ldquo;Agreement&rdquo;) is entered into as of July 1, 2017 by and between GeoVax, Inc., a Georgia Corporation (the &ldquo;Company&rdquo;), and <b>Farshad Guirakhoo</b> (the &ldquo;Employee&rdquo;).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee recognize that it is in the best interests of the Company, its shareholders, and its collective Employees to conserve the Company&rsquo;s cash resources; and as part of its cash conservation measures, the Company has asked certain of its employees to accept salary reductions and/or deferrals; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the Company and Employee acknowledge that this Agreement has been entered into for the express purpose of conserving the Company&rsquo;s cash resources and not for executive compensation tax planning purposes, and </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Whereas</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, Employee currently is currently earning an annualized gross salary of $250,000 (&ldquo;Base Salary&rdquo;); </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Now, therefore</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the parties hereby agree as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">1.</p>
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			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Salary Deferral.</p>
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			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Effective July 1, 2017, Employee agrees to accept a deferral of 25% of his Base Salary, which amount will be accrued and paid to Employee as described below.</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">2.</p>
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			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Discontinuance of Salary Reduction and/or Deferral</p>
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			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Employee&rsquo;s Salary Deferral pursuant to this Agreement shall end upon the occurrence of a significant event (to include financing, corporate partnership, etc., as determined solely by the Company) (the &ldquo;Discontinuance Date&rdquo;).</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:27pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-27pt;">&nbsp;</p>

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			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">3.</p>
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			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Payment of Accumulated Deferred Salary.</p>
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			<td style="width: 27pt; vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td>
			<td style="vertical-align: top; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">At the Discontinuance Date, the Company in its sole discretion will determine the form of payment to be made to Employee for the accumulated Deferred Salary. Such payment may be made in cash, in the form of Company Stock, or in a combination of cash and stock.</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><u><b>ACCEPTANCE</b></u></p>

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			<td colspan="2" style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
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			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Employee</p>
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			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Date</p>
			</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
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			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
		</tr>
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			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
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			<td style="vertical-align: middle; width: 6%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Agreed:</p>
			</td>
			<td style="vertical-align: middle; border-bottom: 1px solid rgb(0, 0, 0); width: 28%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
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			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax, Inc.</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
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			<td style="vertical-align: middle; width: 6%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 28%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">By:</p>
			</td>
			<td style="vertical-align: middle; width: 11%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 15%;">&nbsp;</td>
			<td style="vertical-align: middle; width: 40%;">&nbsp;</td>
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<DOCUMENT>
<TYPE>EX-10.72
<SEQUENCE>9
<FILENAME>ex_108049.htm
<DESCRIPTION>EXHIBIT 10.7.2
<TEXT>
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	<title>ex_108049.htm</title>

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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.7.2</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SECOND AMENDMENT TO LEASE AGREEMENT</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>THIS SECOND AMENDMENT TO LEASE AGREEMENT</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> (this &quot;<b>Amendment</b>&quot;) is made as of the 10th day of July, 2017 (the &quot;<b>Effective Date</b>&quot;), by and between <b>UCB, INC.</b>, a Delaware corporation (&quot;<b>Landlord</b>&quot;), and <b>GEOVAX, INC., </b>a Georgia corporation (&quot;<b>Tenant</b>&quot;).</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>WITNESSETH:</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>WHEREAS, </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Landlord and Tenant entered into that certain Office and Laboratory Lease dated as of August 31, 2009, as amended by that certain Amendment to Lease Agreement dated November 11, 2014 (as amended, the &quot;<b>Lease</b>&quot;), pursuant to which Landlord leased to Tenant and Tenant leased from Landlord certain premises containing 8,430 rentable square feet (&quot;<b>Premises</b>&quot;) located in the building located at 1900 Lake Park Drive, Smyrna, Georgia 30080 (the &quot;<b>Building</b>&quot;) and more fully described in the Lease; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>WHEREAS,</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> the current Expiration Date of the Lease is December 31, 2017; and</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>WHEREAS,</b> Landlord and Tenant desire to extend the term of the Lease and otherwise amend the Lease on the terms and conditioned contained herein.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>NOW, THEREFORE, </b>in consideration of the foregoing of the mutual covenants and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant, intending to be legally bound, hereby covenant and agree as follows:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>1.</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Recitals; </b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"><b>Definitions. </b> The foregoing recitals are hereby incorporated herein and made a part hereof by this reference. Except as otherwise specified herein, all capitalized terms in this Amendment shall have the meanings assigned thereto in the Lease.</font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>2.</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Term:</b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"> Notwithstanding anything set forth in the Lease to the contrary, but subject to the further extensions set forth in Section 3 below, the &quot;<b>Expiration Date</b>&quot; of the Lease shall be December 31, 2018, and the Lease shall be deemed amended hereby.</font></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>3.</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Year-to-Year</b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"><b> Extension Term:</b>&nbsp; From and after December 31, 2018, this Lease and the Expiration Date shall automatically be extended on a year-to-year basis (each such extended period being a &quot;<b>Year-to-Year</b><b> Extension Term</b>&quot; hereunder), except in the event either Landlord or Tenant gives the other party a cancellation notice as hereinafter provided.&nbsp; During each Year-to-Year Extension Term all terms and conditions of the Lease shall apply except Base Rent shall be as set forth in Section 4 below.&nbsp; In the event either Landlord or Tenant elects to cancel a Year-to-Year Extension Term, such cancellation notice may be given by Landlord or Tenant at any time but in any event must be given at least ninety (90)</font><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"><i><b> </b></i></font><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">days prior to the then current Expiration Date (or, ninety (90)</font><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"><i><b> </b></i></font><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">days prior to December 31, 2018, if either party desires the Lease to terminate as of December 31, 2018).&nbsp; In the event Landlord or Tenant timely exercises such option to cancel a Year-to-Year Extension Term of this Lease, this Lease shall terminate as of the last day of the then current Year-to-Year Term (i.e., the then current Expiration Date).&nbsp; Notwithstanding anything herein to the contrary, the Year-to-Year Extension Term shall not extend past December 31, 2022.</font></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>4.</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Base Rental.</b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"> The &quot;<b>Base Rental</b>&quot; for the period from and after January 1, 2018 shall be as follows:</font></p>
			</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;"><b>&nbsp;</b></p>

<table border="0px" cellpadding="0pt" cellspacing="0pt" style="margin: 0pt auto 0pt 40pt; width: 95%; text-indent: 0px; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-collapse: collapse;">

		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;"><b>Lease Year</b></p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;"><b>Rental Rate</b></p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;"><b>Annual Base Rental</b></p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;"><b>Monthly Base Rental</b></p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">01/01/18 &ndash; 12/31/18</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$18.57</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$156,545.16</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$13,045.43</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-top: 1px solid rgb(0, 0, 0);">
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">01/01/19 &ndash; 12/31/19</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$19.13</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$161,265.96</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$13,438.83</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">01/01/20 &ndash; 12/31/20</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$19.71</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$166,155.36</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$13,846.28</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">01/01/21 &ndash; 12/31/21</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$20.31</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$171,213.36</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$14,267.78</p>
			</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">01/01/22 &ndash; 12/31/22</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 24.9%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$20.92</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25.1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$176,355.60</p>
			</td>
			<td style="vertical-align: top; border: 1px solid rgb(0, 0, 0); width: 25%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">$14,696.30</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>5.</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Brokerage Commission. </b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Landlord and Tenant each represent and warrant to the other that no broker has been employed in carrying on any negotiations relating to this Amendment. Landlord and Tenant shall each indemnify and hold harmless the other from any claim breach of the foregoing representation and warranty. </font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-36pt;"><b>&nbsp;</b></p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">1</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>6.</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Representation. </b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Tenant hereby represents and warrants to Landlord that Tenant has full power and authority to execute and perform this Amendment and has taken all action necessary to authorize the execution and performance of this Amendment. Landlord hereby represents and warrants to Tenant that Landlord has full power and authority to execute and perform this Amendment and has taken all action necessary to authorize the execution and performance of this Amendment. </font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-36pt;"><b>&nbsp;</b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>7.</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Miscellaneous. </b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">This Amendment (a) shall be binding upon and inure to the benefit of the parties hereto and their respective representatives, transferees, successors and assigns (except as expressly otherwise provided in the Lease), and (b) shall be governed by and construed in accordance with the laws of Georgia. This Amendment may be executed in two (2) or more counterpart copies, all of which counterparts shall have the same force and effect as if all parties hereto had executed a single copy of this Amendment. Delivery of an executed counterpart of this Amendment by facsimile or other electronic means shall be equally as effective as delivery of an original counterpart of this Amendment.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-36pt;"><b>&nbsp;</b></p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>8.</b></p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><b>Ratification. </b><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">Except as expressly amended by this Amendment, all other terms, conditions and provisions of the Lease are hereby ratified and confirmed and shall continue in full force and effect.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">[<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>Signatures on Next Page</i>]</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">2</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>IN WITNESS WHEREOF, </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">the parties hereto have executed this Amendment under seal as of the day and year first hereinabove written.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:216pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">&nbsp;</td>
			<td style="width: 50%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">LANDLORD:</font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>UCB, INC.</b>, a Delaware corporation</font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">By: _______________________________ </font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Name: </font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Title: </font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">By: _______________________________</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Name: </font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Title: </font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">[CORPORATE SEAL]</font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">TENANT:</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>GEOVAX, INC., </b>a Georgia corporation</font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">By _______________________________ </font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Name:</font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Title:</font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">[CORPORATE SEAL]</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">3</p>
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<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>10
<FILENAME>ex_108047.htm
<DESCRIPTION>EXHIBIT 10.16
<TEXT>
<html>
<head>
	<title>ex_108047.htm</title>

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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.16</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><u><b>SENIOR NOTE PURCHASE AGREEMENT</b></u></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">This Senior Note Purchase Agreement, dated as of February 28, 2018 (this &ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Agreement</b>&rdquo;), is entered into by and among GeoVax Labs, Inc., a Delaware corporation, with an address at 1900 Lake Park Drive, Suite 380, Smyrna, GA 30080 (the &ldquo;<b>Company</b>&rdquo;), and Georgia Research Alliance, Inc., with an address at 191&nbsp;Peachtree Street, NE, Suite&nbsp;849, Atlanta, Georgia 30303 (&ldquo;<b>Purchaser</b>&rdquo;), with respect to the following:</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;font-variant:small-caps;margin:0pt;text-align:center;"><u><b>Recital</b></u></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The Company is obtaining financing from Purchaser.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;font-variant:small-caps;margin:0pt;text-align:center;"><u><b>Agreement </b></u></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The parties hereby agree as follows:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>The Notes</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of the Note</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. In reliance upon the representations, warranties and covenants of the parties set forth herein, at a closing (the &ldquo;<b>Closing</b>&rdquo;) to be held simultaneously with the execution of this Agreement, the Company will issue, sell and deliver to Purchaser, and Purchaser will purchase from the Company, one or more promissory notes in the aggregate principal amount of up to Fifty Thousand Dollars ($50,000.00), collectively, the &ldquo;<b>Notes</b>&rdquo; and each, a &ldquo;<b>Note</b>&rdquo;). The purchase price for each Note shall be the principal amount thereof. Capitalized terms used in this Agreement but not otherwise defined herein shall have the meanings set forth in the Notes.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Terms of the Notes</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The terms and conditions of the Notes are set forth in the form of Note attached as <u>Exhibit A</u> hereto. Capitalized terms not otherwise defined herein shall have the meaning set forth in <u>Exhibit A</u> hereto. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Delivery</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company will deliver to Purchaser the Notes against receipt by the Company of the purchase price for the Notes.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties of the Company</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company hereby represents and warrants to Purchaser as follows:</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Or<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ganization and Standing; Articles and Bylaws</font></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware, having its principal office in the State of Georgia, and is authorized to do business in and is in good standing in Georgia, and has all requisite corporate power and authority to carry on its business as now conducted and proposed to be conducted.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Corporate Power; Authorization</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company has all requisite legal and corporate power to enter into, execute, deliver, and perform this Agreement and the Notes. All corporate and legal action on the part of the Company, its officers, directors and shareholders necessary for the execution and delivery of this Agreement and the Notes, the sale and issuance of the Notes and the performance of the Company&rsquo;s obligations hereunder, and under the Notes, has been taken. This Agreement is, and upon issuance of the Notes will be, valid and binding obligations of the Company, enforceable in accordance with their terms, except as the same may be limited by bankruptcy, insolvency, moratorium and other laws of general application affecting the enforcement of creditors&rsquo; rights.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Other Instruments, None Burdensome, Etc.</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> The execution, delivery and performance of and compliance with this Agreement and the Notes will not result in nor constitute any breach, default or violation of (i) any material agreement, contract, lease, license, instrument or commitment (oral or written) to which the Company or any of its subsidiaries is a party or (ii) any law, rule, regulation, statute or order applicable to the Company, any of its subsidiaries or their respective properties, nor result in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the Company or its subsidiaries. No person has any right to participate in the sale by the Company of the Notes (other than rights that have been fully satisfied or waived).</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Compliance with Laws</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Each of the Company and each of its subsidiaries has complied, and its properties and business operations are in compliance, with all applicable laws, except where any failure to so comply could not reasonably be expected to have a material adverse effect upon the properties, operations, business, prospects or condition (financial or otherwise) of the Company or its subsidiaries or the validity, performance or enforceability of the Transaction Documents. No federal, state, local or provincial or other governmental authority has issued or, to the best of the Company&rsquo;s knowledge, threatened to issue to the Company or any of its subsidiaries any citation, notice or order asserting or alleging any material non-compliance with, or material violation of, any applicable law.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Government C<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">onsent, Etc</font></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. No consent, approval, order or authorization of, or designation, registration, declaration or filing with, any federal, state, local or provincial or other governmental authority on the part of the Company is required in connection with the valid execution, delivery and performance of this Agreement and the Notes, other than, if required, filings or qualifications under applicable federal and state securities laws, which filings or qualifications, if required, will be timely filed or obtained by the Company.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Offering</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. In reliance on the representations and warranties of Purchaser in Section&nbsp;3, the Notes will be issued in compliance with all applicable federal and state securities laws.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(g)&nbsp;&nbsp;&nbsp; <u>Litigation</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Except as disclosed to Purchaser in writing prior to the date of this Agreement, there are no suits or proceedings pending or, to the Company&rsquo;s knowledge, threatened by or before any federal, state, local or provincial or other governmental authority against or affecting the Company or any of its subsidiaries, or their respective assets.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Agreements, Etc</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Neither the Company nor any of its subsidiaries is a party to any agreement or instrument or subject to any order or decree of any federal, state, local or provincial or other governmental authority or any charter or other corporate restriction, adversely affecting its properties, operations, business, prospects or condition (financial or otherwise), nor is the Company or any of its subsidiaries in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party, or any law, regulation, decree or order to which it is subject.</font></p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Authorizations</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. All authorizations, consents, approvals and licenses required under applicable law for the ownership or operation of the property owned or operated by the Company or any of its subsidiaries or for the conduct of any business in which the Company or any of its subsidiaries is engaged have been duly issued and are in full force and effect, and none of the Company or its subsidiaries is in default, nor has any event occurred which with the passage of time or the giving of notice, or both, would constitute a default, under any of the terms or provisions of any part thereof, or under any order, decree, ruling, regulation, closing agreement or other decision or instrument of any federal, state, local or provincial or other governmental authority having jurisdiction over the Company and its subsidiaries.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Taxes</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company and its subsidiaries have filed all federal and state income and other tax returns which are required to be filed, and have paid all taxes as shown on said returns and all taxes, including withholding, Federal Insurance Contributions Act and ad valorem taxes, shown on all assessments received by any of them to the extent that such taxes have become due.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(k)&nbsp;&nbsp;&nbsp; <u>Sanctioned Persons; Sanctioned Countries</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. None of the Company, its subsidiaries or its affiliates does business in a Sanctioned Country or with a Sanctioned Person in violation of the economic sanctions of the United States administered by United States Department of the Treasury&rsquo;s Office of Foreign Assets Control (together with any successor thereto, &ldquo;<b>OFAC</b>&rdquo;). The Company will not use the proceeds received from the sale of the Notes hereunder to fund any operation in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Country. &ldquo;<b>Sanctioned Country</b>&rdquo; means a country subject to the sanctions programs identified on the list maintained by OFAC, as published from time to time by OFAC. &ldquo;<b>Sanctioned Person</b>&rdquo; means (a) any person or entity named on the list of Specially Designated Nationals or Blocked Persons maintained by OFAC, as published from time to time by OFAC, (b) any agency, authority or subdivision of the government of a Sanctioned Country, (c) any person or organization controlled by a Sanctioned Country, or (d) any person or entity resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Intellectual Property</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company possesses adequate assets, licenses, patents, patent applications, copyrights, service marks, trademarks and trade names (collectively, &ldquo;<b>Proprietary Rights</b>&rdquo;) adequate to continue to conduct its business as heretofore conducted by it and as presently proposed to be conducted by it without conflicting with any rights of others, and such Proprietary Rights are valid and enforceable. To the Company&rsquo;s knowledge, neither the Company&rsquo;s nor any of its subsidiaries&rsquo; use of any Proprietary Rights infringes upon or otherwise violates the rights of any third party in or to such Proprietary Rights, and no proceeding has been instituted against or notice received by the Company or any of its subsidiaries that is presently outstanding alleging that the use of any of the Proprietary Rights infringes upon or otherwise violates the rights of any third party in or to any of the Proprietary Rights. Neither the Company nor any of its subsidiaries has given notice to any person or entity that such person or entity is infringing on any of the Proprietary Rights. To the Company&rsquo;s knowledge, no person or entity is infringing on any of the Proprietary Rights.</font></p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Representations and Warranties by Purchaser</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Purchaser represents and warrants to the Company as of the time of issuance of the Notes as follows:</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Investment Intent</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Agreement is made with Purchaser in reliance upon such Purchaser&rsquo;s representation to the Company, evidenced by Purchaser&rsquo;s execution of this Agreement, that Purchaser is acquiring the Notes for investment for such Purchaser&rsquo;s own account, not as nominee or agent, and not with a view to, or for resale in connection with, any distribution thereof within the meaning of the Securities Act of 1933, as amended (the &ldquo;<b>Securities Act</b>&rdquo;) or applicable state securities laws.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Authority</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Purchaser has the full right, power, authority and capacity to enter into and perform this Agreement and the Agreement will constitute a valid and binding obligation upon Purchaser, except as the same may be limited by bankruptcy, insolvency, moratorium and other laws of general application affecting the enforcement of creditors&rsquo; rights.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(c)&nbsp;&nbsp;&nbsp; <u>Notes Not Registered</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Purchaser understands and acknowledges that the offering of the Notes will not be registered under the Securities Act or qualified under applicable state securities laws on the grounds that the offering and sale of the Notes contemplated by this Agreement are exempt from registration under the Securities Act and exempt from qualification under applicable state securities laws, and that the Company&rsquo;s reliance upon such exemptions is predicated upon such Purchaser&rsquo;s representations set forth in this Agreement. Purchaser acknowledges and understands that resale of a Note maybe restricted indefinitely unless the Note is subsequently registered under the Securities Act and qualified under applicable state securities laws or an exemption from such registration and such qualification is available.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(d)&nbsp;&nbsp;&nbsp; <u>No Transfer</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Purchaser covenants that in no event will it dispose of any of the Notes other than in conjunction with an effective registration statement under the Securities Act or pursuant to an exemption therefrom, or in compliance with Rule 144 promulgated under the Securities Act, or to an entity affiliated with Purchaser and other than in compliance with the applicable securities regulations laws of any state.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Knowledge and Experience</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Purchaser (i) has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of Purchaser&rsquo;s prospective investment in the Notes; (ii) has the ability to bear the economic risks of Purchaser&rsquo;s prospective investment; (iii) has been furnished with and has had access to such information as Purchaser has considered necessary to make a determination to purchase the Notes together with such additional information as is necessary to verify the accuracy of the information supplied; (iv) has had all questions that have been asked by Purchaser satisfactorily answered by the Company; and (v) has not been offered the Notes by any form of advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, or any seminar or meeting whose attendees have been invited by any such media.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Accredited Investor</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Purchaser is an accredited investor as that term is defined in Regulation D promulgated by the Securities and Exchange Commission under the Securities Act.</font></p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(g)&nbsp;&nbsp;&nbsp; <u>No Brokers</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. There are no brokerage commissions, finder&rsquo;s fees or similar fees or commissions payable in connection with the transactions contemplated by the Transaction Documents based on any agreement, arrangement or understanding with Purchase or any action taken by Purchaser.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Covena<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">nts and Agreements of the Company</font></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Company<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s Books and Records</font></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The books and records of the Company shall at all times be maintained at the principal office of the Company, or within an accounting system accessible by the Company, and upon a prior notice in writing to the Company of at least five (5) business days, the books and records of the Company related to this Agreement shall be open to the reasonable inspection and examination of Purchaser, or its duly authorized representatives during reasonable business hours.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Company<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s Reporting Obligations</font></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Until all obligations under the Notes are paid in full, the Company will furnish, or will cause to be furnished, to Purchaser copies of the following financial statements, reports and information:</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;within fi<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">fteen (15) days after filing with the Securities and Exchange Commission, copies of 10Q and 10K reports; </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such other information with respect to the financial condition, business, property, assets, revenues and operations of the Company as Purchaser may f<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">rom time to time reasonably request.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Covenants</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Until the outstanding principal amounts due under the Notes and any other obligations under the Notes are paid in full, the Company and its subsidiaries shall not:</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;unless consented to in writing by Pur<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">chaser:</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:108pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;incur any additional debt senior or <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i>pari-passu</i> to the Notes, including any debt senior or <i>pari-passu</i> to the Notes that is convertible into equity securities;</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:108pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;sell or grant any license or sublicense to any material intellectual property or proprieta<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ry information related to the joint venture project with Viamune, Inc. (the &ldquo;<b>Joint Venture</b>&rdquo;);</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:108pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter into any transaction with a related party not on arm<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&rsquo;s length terms and conditions;</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:108pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;repurchase or redeem any equity security of the Company; or</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:108pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make, declar<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">e or pay any dividend, or make any other distribution on, any Company capital stock or any securities convertible into or exchangeable for any shares of Company capital stock.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Legal Fees</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company will pay for Purchaser&rsquo;s legal fees and expenses associated with the preparation and negotiation of this Agreement, the first Note issued by the Company, and any Subsequent Note, up to a maximum of $1,000 in the aggregate.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Use of Proceeds</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The proceeds of the Notes shall be used by the Company for working capital, sales and marketing, research and development and capital expenditures as described in the Company&rsquo;s spending plan set forth in the investment application submitted to, and as accepted by, Purchaser. The Company shall not use the proceeds of the Notes for any purpose not described in such spending plan without the prior written approval of Purchaser.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Application of Distributions</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Until all obligations under the Notes are paid in full, the Company will apply all distributions received or resulting from the Joint Venture to repayment of the Notes in the following order:</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;first, to any accrued interest; and</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;second, to the principal amount outstanding.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(g)&nbsp;&nbsp;&nbsp; <u>Joint Venture Management Structure</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. After commencement of the Joint Venture and until all obligations under the Notes are paid in full, the Company will not, without the prior written consent of the Purchaser, cause or allow any change to the initial management structure of the Joint Venture, attached as <u>Exhibit C</u> hereto. The consent of the Purchaser is not to be unreasonably withheld. </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Use and Disclosure</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Except to the extent expressly permitted under this Agreement, Purchaser shall neither disclose to any third party any of the Company&rsquo;s (a) Confidential Information during the term of the Transaction Documents and for a period of five (5) years following the termination or satisfaction of the last such document; or (b) trade secrets for the period during which any such information continues to constitute a trade secret as defined under this Agreement or applicable laws (collectively, &ldquo;<b>Trade Secrets</b>&rdquo;) or otherwise use any such Confidential Information or Trade Secrets for any purpose whatsoever. &ldquo;<b>Confidential Information</b>&rdquo; shall mean any and all technical, financial, business and other information relating to the Company (or any affiliate thereof) in connection with this Agreement and is clearly marked as confidential at the time of disclosure, or, if disclosed orally or visually if such oral or visual disclosure is followed within thirty (30) days by a written confirmation of such confidential disclosure, is stated to be confidential information of the Company. For purposes of this Agreement, Confidential Information shall be deemed to include any and all reports, financial statements or other disclosures required to be made by the Company under the terms of the Transaction Documents, including, without limitation, any and all information provided to the Observer. If Purchaser becomes legally compelled to disclose any Confidential Information or Trade Secrets (whether by judicial or administrative order, applicable law, rule or regulation, or otherwise), Purchaser shall use all reasonable efforts to provide the Company with prior notice thereof so that the Company may seek a protective order or other appropriate remedy to prevent such disclosure. If such protective order or other remedy is not obtained prior to the time such disclosure is required, Purchaser may only disclose that portion of such Confidential Information or Trade Secrets that it is legally required to disclose. Confidential Information shall not include information (i) within Purchaser&rsquo;s legitimate possession before disclosure by the Company, as evidenced by written records, (ii) in the public domain or which comes into the public domain through no fault of Purchaser, (iii) disclosed to Purchaser by a third party or a user having legitimate possession thereof and the right to make such disclosure (subject to any confidential obligation in connection with such right), or (iv) that ceases to constitute a Trade Secret during the period for which such restrictions under this Section 5 otherwise apply, unless and to the extent the same shall constitute Confidential Information, in which case such information shall be maintained confidentially for the period described under clause (a) above, if longer. The provisions of this Section 5 shall be construed as an agreement ancillary to the other provisions of this Agreement, and the existence of any claim or cause of action of Purchaser against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of this Article. Purchaser understands and agrees that money damages would not be a sufficient remedy for any breach of this Section 5, and that the Company shall be entitled to seek equitable relief, including any injunction and specific performance as a remedy for any breach or threat thereof. Such remedy shall not be exclusive but shall be in addition to all other remedies available to the Company at law or equity. Notwithstanding anything in this Agreement to the contrary, the maximum liability of Purchaser for money damages pursuant to this Section 5 will not exceed the aggregate amount paid by Purchaser to the Company for the Notes.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Miscellaneous</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Waivers and Amendments</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Any provision of this Agreement may be amended, waived or modified upon the written consent of the Company and Purchaser. Notwithstanding the foregoing, no failure or delay by either party in exercising any right, power or remedy hereunder shall operate as waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further exercise thereof or the exercise of any other right, power or remedy. The remedies provided for herein are cumulative and are not exclusive of any remedies that may be available to any party at law or in equity or otherwise.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Governing Law</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Agreement and all actions arising out of or in connection with this Agreement shall be governed by and construed in accordance with the laws of the State of Georgia, without regard to the conflicts of law provisions of the State of Georgia or of any other state.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Entire Agreement</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Agreement together with the Notes constitutes the full and entire understanding and agreement between the parties with regard to the subjects hereof and thereof.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Any notice, request or other communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given if personally delivered or mailed by registered or certified mail, postage prepaid or by recognized overnight courier, addressed (i) if to Purchaser, at the address first given above or at such other address as Purchaser shall furnish to the Company in writing, or (ii) if to the Company, at the address first given above or at such other address as the Company shall furnish to Purchaser in writing.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Validity</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. If for any circumstance whatsoever, fulfillment of any provision of this Agreement or the Notes, at the time performance of such provision is due, involves transcending the limit of validity presently prescribed by any applicable statute or any other applicable law, with regard to obligations of like character and amount, the obligation to be fulfilled must be reduced to the limit of such validity, so that in no event will any exaction be possible under this Agreement or the Notes that is in excess of the current limit of such validity, but such obligation must be fulfilled to the limit of such validity.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Counterparts</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall be deemed to constitute one instrument.</font></p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(g)&nbsp;&nbsp;&nbsp; <u>Severability</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Any term or condition of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining terms and conditions hereof or affecting the validity or enforceability of any such term or condition in any other jurisdiction.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Headings</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Article and Section headings in this Agreement are for convenience of reference and do not affect the construction of this Agreement.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Disp<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">ute Resolution</font></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. If a conflict, issue or dispute (the &ldquo;<b>Dispute</b>&rdquo;) arises between the parties regarding the terms, conditions or interpretation of all or any portion of this Agreement, the Company and Purchaser shall attempt to negotiate in good faith a business resolution of the Dispute for no less than thirty (30) days after notice of the Dispute before resorting to any other remedy in law or equity, subject to the ability to obtain equitable relief pursuant to Section&nbsp;5.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>PATRIOT Act Notice</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Purchaser hereby notifies the Company that pursuant to the requirements of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272 (2001) (the &ldquo;<b>PATRIOT</b><b> Act</b>&rdquo;), Purchaser may be required to obtain, verify and record information that identifies the Company, including its legal name, address, tax ID number and other information that will allow Purchaser to identify the Company in accordance with the PATRIOT Act.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>IN WITNESS WHEREOF</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, the parties have caused this Agreement to be duly executed under seal and delivered by their proper and duly authorized officers as of the date and year first written above.</font></p>

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			<td style="width: 50%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>COMPANY:</b><br>
			<br>
			<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">GEOVAX LABS, INC., a Delaware corporation<br>
			<br>
			<br>
			<br>
			By: <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
			Name:<br>
			Title: </font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 153pt; text-align: left;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">[SEAL]</font></p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"><b>PURCHASER:</b><br>
			<br>
			<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">GEORGIA RESEARCH ALLIANCE, INC.<br>
			<br>
			<br>
			<br>
			By:&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
			Name: C. Michael Cassidy<br>
			Title: President and CEO</font></p>
			</td>
		</tr>

</table>

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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">[<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;font-variant:small-caps;">Senior Note Purchase Agreement]</font></p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><u><b>EXHIBIT A<br>
<br>
<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;">SENIOR PROMISSORY NOTE</font></b></u></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. IT MAY NOT BE SOLD OR OFFERED FOR SALE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR EVIDENCE REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;">GEOVAX, INC.<br>
<br>
<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;text-transform:uppercase;"><u>SENIOR PROMISSORY NOTE</u></font></p>

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			<td style="width: 50%;">Fifty Thousand Dollars, $50,000<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;</font></td>
			<td style="width: 50%; text-align: right;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;[&#9679;]</font></td>
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			<td>&nbsp;</td>
			<td style="text-align: right;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Atlanta, Georgia</font></td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;"><b>FOR VALUE RECEIVED</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">, GeoVax Labs, Inc., a Delaware corporation (the &ldquo;<b>Company</b>&rdquo;), promises to pay to Georgia Research Alliance, Inc. (the &ldquo;<b>Holder</b>&rdquo;), the principal sum of Fifty Thousand Dollars ($50,000.00), or such lesser amount as shall then equal the outstanding principal amount under this Promissory Note (this &ldquo;<b>Note</b>&rdquo;), together with interest thereon as specified herein.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The principal amount shall be due and payable in installments beginning on the one year anniversary of the date of the Closing, and continuing on the first business day of each calendar month thereafter, each in an amount equal to $[1,041.67], and ending on the Maturity Date.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Interest shall accrue on the principal amount of this Note from time to time remaining unpaid and outstanding at a rate of five percent (5.0%) per annum computed on the basis of the actual number of days elapsed and a year of 365 days. Interest accrued on the unpaid principal amount outstanding hereunder shall be due and payable in arrears (i) beginning April 1, 2018, on such date and on the first business day of each calendar month thereafter, (ii) on demand as provided in the immediately following paragraph, and (iii) on the Maturity Date (as defined herein).</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">All unpaid principal, together with the balance of unpaid and accrued interest and other amounts payable hereunder, shall be due and payable:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:171pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) on the Maturity Date, (ii)<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;immediately upon the occurrence of an Event of Default (as defined herein) described under Section 2(c) or 2(d); and </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:171pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;on demand at any time after the earlier of (i) the date on which the Company has achieved profitabilit<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">y for a period of at least two (2) consecutive fiscal years in accordance with generally accepted accounting principles, (ii) the date on which a Qualified Financing (as defined herein) occurs, unless the Holder has consented to such Qualified Financing in advance and in writing, (iii) the date on which a Qualified Sale (as defined herein) occurs, unless the Holder has consented to such Qualified Sale in advance and in writing, and (iv) the occurrence of an Event of Default (other than an Event of Default described under Section 2(c) or 2(d)).</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">This Note is issued pursuant to the Senior Note Purchase Agreement of even date herewith (as amended, modified or supplemented, the &ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Note Purchase Agreement</b>&rdquo;) between the Company and the Holder named therein.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The following is a statement of the rights of the Holder and the conditions to which this Note is subject, and to which the Holder hereof, by the acceptance of this Note, agrees:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Definitions</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. As used in this Note, the following capitalized terms have the following meanings:</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Maturity Date</b>&rdquo; is the date that is five years from the date of this Note.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Obligations</b>&rdquo; means all principal and accrued interest due hereunder (including any interest on pre-petition Obligations accruing after the commencement of any insolvency proceeding by or against the Company, whether or not allowable in such insolvency proceeding).</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Qualified Financing</b>&rdquo; means an equity financing of the Company in which the Company issues shares of common stock, preferred stock or other equity interests in the Company in a transaction or series of related transactions and receives an investment of at least $5 million in consideration of such issuance.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Qualified Sale</b>&rdquo; means (i) a merger or consolidation of the Company with or into another entity after which the shareholders of the Company immediately prior to such transaction do not own, immediately following the consummation of the transaction and by virtue of their share ownership in the Company or securities received in exchange for such shares in connection with the transaction, a majority of the voting power of the surviving entity in proportions substantially similar to those that existed immediately prior to such transaction, (ii)&nbsp;the sale or transfer by the Company or the Company&rsquo;s shareholders of capital stock of the Company representing more than 50% of the voting power of the Company in one transaction or a series of related transactions (but specifically excluding bona fide equity financing transactions), or (iii) the sale, transfer or other disposition (but not including a transfer or disposition by pledge or mortgage to a bona fide lender) of all or substantially all of the assets of the Company. Notwithstanding the foregoing, a merger effected exclusively for the purpose of changing the domicile of the Company shall not be deemed a Qualified Sale.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Transaction Documents</b>&rdquo; means this Note and the Note Purchase Agreement.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Events of Default</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The occurrence of any of the following shall constitute an &ldquo;<b>Event of Default</b>&rdquo;<b> </b>under this Note and the other Transaction Documents:</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Failure to Pay</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company shall fail to pay (i) any principal payment on the due date hereunder or (ii) any interest or other payment required under the terms of this Note or any other Transaction Document on the due date and such payment shall not have been made within ten (10) days of the Company&rsquo;s receipt of the Holder&rsquo;s written notice to the Company of such failure to pay;</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Breaches of Other Covenants</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company shall fail to observe or perform any other covenant, obligation, condition or agreement contained in this Note or any other Transaction Document, and after the Company&rsquo;s receipt of the Holder&rsquo;s written notice, such failure shall continue for ten (10) days;</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Voluntary Bankruptcy or Insolvency Proceedings</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company shall (i)&nbsp;apply for or consent to the appointment of a receiver, trustee or custodian of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of its or any of its creditors, (iii) be dissolved or liquidated in full or in part, (iv) commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it, or (v) take any action for the purpose of effecting any of the foregoing; </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(d)&nbsp;&nbsp;&nbsp; <u>Involuntary Bankruptcy or<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> Insolvency Proceedings</font></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within thirty&nbsp;(30) days of commencement; </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Failure to Pay Indebtedness</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company fails to pay when due (giving effect to any applicable grace periods and any extensions thereof) any indebtedness for money borrowed by the Company in the principal balance of not less than [</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&#9679;] Dollars ($[</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&#9679;]), or any declared default of the Company under any such indebtedness that gives the holder thereof the right to accelerate such indebtedness (which such acceleration is not rescinded, annulled or otherwise cured within fourteen (14) days after receipt by the Company of notice of such acceleration), except to the extent such failure to pay or acceleration is the subject of a bona fide dispute that the Company is contesting in good faith and for which funds sufficient to pay such indebtedness have been set aside and reserved for payment by the Company; </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Cessation of Company Operations</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company&rsquo;s board of directors votes to cease substantially all of the Company&rsquo;s operations or wind up the Company&rsquo;s affairs; </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(g)&nbsp;&nbsp;&nbsp; <u>Relocation</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The relocation of the Company headquarters, all or a significant portion of its assets or business operations or a majority of its employees to a location outside of the State of Georgia; or</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:72pt;">(h)&nbsp;&nbsp;&nbsp; <u>Use of Proceeds</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The use of the proceeds of this Note by the Company for any material purpose not described in the Company&rsquo;s spending plan set forth in the investment application submitted to, and as accepted by, the Holder without the prior written approval of the Holder.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Rights of the Holder Upon Default</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Upon the occurrence or existence of any Event of Default (other than an Event of Default referred to in Sections 2(c) and 2(d)) and at any time thereafter during the continuance of such Event of Default beyond any applicable cure periods, the Holder may declare all outstanding Obligations payable by the Company hereunder to be immediately due and payable without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the other Transaction Documents to the contrary notwithstanding. Upon the occurrence or existence of any Event of Default described in Sections 2(c) and 2(d), immediately and without notice, all outstanding Obligations payable by the Company hereunder shall automatically become immediately due and payable, without presentment, demand, protest or any other notice of any kind, all of which are hereby expressly waived, anything contained herein or in the other Transaction Documents to the contrary notwithstanding. In addition to the foregoing remedies, upon the occurrence or existence of any Event of Default, the Holder may exercise any other right, power or remedy granted to it by the Transaction Documents, or otherwise permitted to it by law. In case of an Event of Default, the Company must pay to the Holder such further amount as is sufficient to cover the cost and expenses of collection, including, without limitation, reasonable attorney&rsquo;s fees, expenses and disbursements. No course of dealing and no delay on the part of the Holder in exercising any right will operate as a waiver of that right or otherwise prejudice the Holder&rsquo;s rights, powers or remedies. No right, power or remedy conferred by this Note upon the Holder is exclusive of any other right, power or remedy referred to herein or now or hereafter available at law, in equity, by statute or otherwise.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Prepayment</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The principal amount of this Note and the accrued interest thereon may be prepaid without the written consent of the Holder. Any such permitted prepayment will be applied first to the payment of expenses due under this Note, second to interest accrued on this Note, if any, and third, if the amount of prepayment exceeds the amount of all such expenses and accrued interest, to the payment of principal of this Note.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Suc<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">cessors and Assigns</font></u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Subject to the restrictions on transfer described in Sections 7 and 8, the rights and obligations of the Company and the Holder of this Note shall be binding upon and benefit the successors, assigns, heirs, administrators and transferees of the parties.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Waiver and Amendment</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Any provision of this Note may be amended, waived or modified upon the written consent of the Company and the Holder.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Transfer of this Note</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Note may be transferred by Purchaser without the Company&rsquo;s prior written consent, subject to compliance with the Securities Act of 1933, as amended (the &ldquo;<b>Securities Act</b>&rdquo;). Any new Note issued upon transfer of this Note shall bear a legend as to the applicable restrictions on transfer ability in order to ensure compliance with the Securities Act, unless in the opinion of counsel for the Company such legend is not required in order to ensure compliance with the Securities Act. Subject to compliance with the Securities Act, transfers of this Note shall be registered upon registration books maintained for such purpose by or on behalf of the Company. Prior to presentation of this Note for registration of transfer, the Company shall treat the registered holder hereof as the owner and holder of this Note for the purpose of receiving all payments of principal and interest hereon and for all other purposes whatsoever, whether or not this Note shall be overdue and the Company shall not be affected by notice to the contrary.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Assignment by the Company</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Neither this Note nor any of the rights, interests or obligations hereunder may be assigned in whole or in part by the Company without the prior written consent of the Holder.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notices</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Any notice, request or other communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given if personally delivered or mailed by registered or certified mail, postage prepaid or by recognized overnight courier at the respective addresses of the parties as set forth in the Note Purchase Agreement or on the register maintained by the Company. Copies of all notices provided hereunder shall be also delivered to the Holder&rsquo;s legal counsel at the address provided by the Holder, and any such copy shall not constitute notice hereunder. Either party hereto may by notice so given change its address for future notice hereunder. Notice shall conclusively be deemed to have been given when received.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">10.&nbsp;&nbsp; <u>Ranking</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The obligations of the Company under this Note shall rank senior in payment to all other indebtedness of the Company and its subsidiaries (other than accrued compensation of directors or officers); <u>provided</u>, <u>however</u>, that the payment of all or any portion of the outstanding principal amount of this Note and all interest hereon shall be pari passu in right of payment and in all other respects to the other Notes. In the event the Holder receives payments in excess of its pro rata share of the Company&rsquo;s payments to the holders of all of the Notes, then the Holder shall hold in trust all such excess payments for the benefit of the holders of the other Notes and shall pay such amounts held in trust to such other holders upon demand by such holders.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">11.&nbsp;&nbsp; <u>Payment</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Payment shall be made in lawful tender of the United States.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">12.&nbsp;&nbsp; <u>Expenses; Waivers</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. If action is instituted to collect this Note, the Company shall pay all costs and expenses, including, without limitation, reasonable attorneys&rsquo; fees and costs, incurred in connection with such action. The Company hereby waives notice of default, presentment or demand for payment, protest or notice of nonpayment or dishonor and all other notices or demands relative to this instrument.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">13.&nbsp;&nbsp; <u>Time of Essence</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Time is of the essence of this Note and the other Transaction Documents.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">14.&nbsp;&nbsp; <u>Governing Law</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Note and all actions arising out of or in connection with this Note shall be governed by and construed in accordance with the laws of the State of Georgia, without regard to the conflicts of law provisions of the State of Georgia or of any other state.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">IN WITNESS WHEREOF, the Company has caused this Note to be issued and executed under seal as of the date first written above.</p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">GEOVAX LABS, INC., a Delaware corporation<br>
			<br>
			<br>
			<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">By:&nbsp;<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
			Name:<br>
			Title: </font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;font-variant:small-caps;margin:0pt 7.5pt;text-align:center;">[Senior Promissory Note]</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u>EXHIBIT B<br>
<br>
<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Milestones</font></u></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Milestone 1 - <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">GeoVax&rsquo;s 50% share (shared with ViaMune) of direct expenses associated with the conduct of the preclinical studies using the combined GeoVax and ViaMune technologies in tumor animal models at the University of North Carolina, Charlotte.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u>EXHIBIT C</u></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u>Joint Venture<br>
<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Initial Management Structure</font></u></p>

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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: justify;">CEO</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: justify;">Mark Reynolds</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: justify;">CFO</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: justify;">Kenny Offerman</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: justify;">CMO</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: justify;">Managing Director</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: justify;">Russ Medford</p>
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			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: justify;">Managing Director</p>
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<DOCUMENT>
<TYPE>EX-10.17
<SEQUENCE>11
<FILENAME>ex_108048.htm
<DESCRIPTION>EXHIBIT 10.17
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.17</b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, APPLICABLE STATE SECURITIES LAWS, OR APPLICABLE LAWS OF ANY FOREIGN JURISDICTION. THIS WARRANT AND SUCH UNDERLYING SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS AND IN THE ABSENCE OF COMPLIANCE WITH APPLICABLE LAWS OF ANY FOREIGN JURISDICTION, OR THE AVAILABILITY OF AN EXEMPTION FROM THE REGISTRATION PROVISIONS OF THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>GEOVAX LABS, INC.</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>COMMON STOCK PURCHASE WARRANT</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">This Common Stock Purchase Warrant (this &ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><i><b>Warrant</b></i>&rdquo;) is issued as of the 28th day of February, 2018, by GeoVax Labs, Inc., a Delaware<b> </b>corporation (the &ldquo;<i><b>Company</b></i>&rdquo;), to Georgia Research Alliance, Inc. (the &ldquo;<i><b>Holder</b></i>&rdquo;).</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance of Warrant; Term; Price</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;">1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Issuance</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Concurrently herewith, the Holder is making a loan to the Company in the amount of $50,000.00 (the &ldquo;<i><b>Loan</b></i>&rdquo;) pursuant to the terms of that certain Note Purchase Agreement, dated as of February 28, 2018, between the Company and the Holder (the &ldquo;<i><b>Purchase Agreement</b></i>&rdquo;). The Loan is evidenced by a Subordinated Promissory Note, dated as of February 28, 2018 (together with any and all extensions, replacements and renewals thereof, the &ldquo;<i><b>Note</b></i>&rdquo;). In consideration of the funding of the Loan, the receipt and sufficiency of which are hereby acknowledged, the Company hereby grants to Holder the right to purchase 178,571 shares (the &ldquo;<i><b>Shares</b></i>&rdquo;) of the Company&rsquo;s Common Stock, par value $.001 per share (the &ldquo;<i><b>Warrant Stock</b></i>&rdquo;). </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Term</u>. This Warrant shall be exercisable in whole or in part from the date hereof until February 28, 2023</font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><sup>1</sup></font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise Price</u>. Subject to adjustment as hereinafter provided, the exercise price (the &ldquo;<i><b>Warrant Price</b></i>&rdquo;) per share for which all or any of the Shares may be purchased pursuant to the terms of this Warrant shall be equal to $.042.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Adjustment</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u> of Warrant Price, Number and Kind of Shares</u>. The Warrant Price and the number and kind of Shares issuable upon the exercise of this Warrant shall be subject to adjustment from time to time as follows.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;">2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividends in Stock Adjustment</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. In case at any time or from time to time on or after the date of this Warrant and while this Warrant is outstanding and unexpired, the holders of the Warrant Stock of the Company (or any shares of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional securities or other property (other than cash) of the Company by way of dividend or distribution, then and in each case, the holder of this Warrant shall, upon the exercise hereof, be entitled to receive, in addition to the number of shares of Warrant Stock receivable thereupon, and without payment of any additional consideration therefor, the amount of such other or additional securities or other property (other than cash) of the Company which such holder would have been entitled to receive if it had exercised this Warrant on the date hereof and thereafter, during the period from the date hereof to and including the date of such exercise, retained such shares and/or all other additional securities or other property receivable by it as aforesaid during such period, giving effect to all adjustments called for during such period by this Section 2.</font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><sup>1</sup> 5 years from the date of issuance</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;">2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Reclassification or Reorganization Adjustment</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. In case of any changes in the class or kind of securities issuable upon exercise of this Warrant or any reclassification or change of the outstanding securities of the Company or of any merger, consolidation or reorganization of the Company (or any other corporation the stock or securities of which are at the time receivable upon the exercise of this Warrant) on or after the date hereof, then the holder of this Warrant, upon the exercise hereof at any time after the consummation of such reclassification, change, merger, consolidation or reorganization, shall be entitled to receive, in lieu of the stock or other securities and property receivable upon the exercise hereof prior to such consummation, the stock or other securities or property to which such holder would have been entitled upon such consummation if such holder had exercised this Warrant immediately prior thereto, and the Warrant Price therefore shall be appropriately adjusted, all subject to further adjustment as provided in this Section 2.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;">2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Stock Splits and Reverse Stock Splits</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. If at any time on or after the date hereof the Company shall split, subdivide or otherwise change its outstanding shares of any securities receivable upon exercise of this Warrant into a greater number of shares, the Warrant Price in effect immediately prior to such subdivision shall thereby be proportionately reduced and the number of shares receivable upon exercise of this Warrant shall thereby be proportionately increased; and, conversely, if at any time on or after the date hereof the outstanding number of shares of any securities receivable upon exercise of this Warrant shall be combined into a smaller number of shares, the Warrant Price in effect immediately prior to such combination shall thereby be proportionately increased and the number of shares receivable upon exercise of this Warrant shall thereby be proportionately decreased, all subject to further adjustment as provided in this Section 2.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:72pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Other Impairment</u>. The Company shall not, by amendment of its Articles of Incorporation or Bylaws or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but shall at all times in good faith assist in the carrying out of all such terms and conditions and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder against impairment.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>No Fractional Shares</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. No fractional shares of Warrant Stock will be issued in connection with any subscription hereunder. In lieu of any fractional shares that would otherwise be issuable, the Company shall pay cash equal to the product of such fraction multiplied by the Warrant Price. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>No Stockholder Rights</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Warrant as such shall not entitle its holder to any of the rights of a stockholder of the Company until the holder has exercised this Warrant in accordance with Section 6 hereof.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Reservation of Stock</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company covenants that during the period this Warrant is exercisable, the Company will reserve from its authorized and unissued Warrant Stock a sufficient number of shares to provide for the issuance of Warrant Stock upon the exercise of this Warrant. The Company agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Warrant Stock upon the exercise of this Warrant.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Exercise of Warrant</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Warrant may be exercised by Holder by the surrender of this Warrant at the principal office of the Company, accompanied by payment in full of the purchase price of the shares purchased thereby, as described above. This Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as provided above, and the person or entity entitled to receive the shares or other securities issuable upon such exercise shall be treated for all purposes as the holder of such shares of record as of the close of business on such date. As promptly as practicable, the Company shall issue and deliver to the person or entity entitled to receive the same a certificate or certificates for the number of full shares of Warrant Stock issuable upon such exercise, together with cash in lieu of any fraction of a share as provided above. The shares of Warrant Stock issuable upon exercise hereof shall, upon their issuance, be fully paid and nonassessable. If this Warrant shall be exercised in part only, the Company shall, at the time of delivery of the certificate representing the Shares or other securities in respect of which this Warrant has been exercised, deliver to the Holder a new Warrant evidencing the right to purchase the remaining Shares or other securities purchasable under this Warrant, which new warrant shall, in all other respects, be identical to this Warrant. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Certain Events; Certificate of Adjustment; Registration Rights</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Whenever the Warrant Price or number or type of securities issuable upon exercise of this Warrant is adjusted, as herein provided, the Company shall promptly deliver to the record holder of this Warrant a certificate of an officer of the Company setting forth the nature of such adjustment and a brief statement of the facts requiring such adjustment. If the Company proposes at any time to declare or pay any dividend or distribution on the Warrant Stock, to effect a Deemed Liquidation Event, to register any shares of Warrant Stock, or to liquidate, dissolve or wind up, the Company shall provide the Holder with at least 15 days&rsquo; prior written notice prior to taking such action or, in the case of any contemplated dividend or distribution on the Warrant Stock, written notice at least 15 days prior to the record date for such dividend or distribution. In addition, if the Company shall take or propose to take any other action, notice of which is provided to holders of the Warrant Stock, then the Company shall provide written notice of same to the Holder at the same time and in the same manner it provides notice to the holders of Warrant Stock. Any merger, sale, consolidation, reorganization, sale or exclusive license of all or substantially all of the assets or similar transaction involving the Company, whether in one or a series of related transactions, will constitute a &ldquo;<i><b>Deemed Liquidation Event</b></i>.&rdquo; </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice of Proposed Transfers</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Warrant is transferable by the Holder hereof subject to compliance with this Section 9. Prior to any proposed transfer of this Warrant or the shares of Warrant Stock received on the exercise of this Warrant (the &ldquo;<i><b>Securities</b></i>&rdquo;), unless there is in effect a registration statement under the Securities Act of 1933, as amended (the &ldquo;<i><b>Securities Act</b></i>&rdquo;), covering the proposed transfer, the Holder thereof shall give written notice to the Company of such Holder&rsquo;s intention to effect such transfer. Each such notice shall describe the manner and circumstances of the proposed transfer in sufficient detail, and shall, if the Company so requests, be accompanied (except in transactions in compliance with Rule 144) by either (i) a written opinion of legal counsel who shall be reasonably satisfactory to the Company addressed to the Company and reasonably satisfactory in form and substance to the Company&rsquo;s counsel, to the effect that the proposed transfer of the Securities may be effected without registration under the Securities Act and any applicable state securities laws, or (ii) a &ldquo;no action&rdquo; letter from the Securities and Exchange Commission (the &ldquo;<i><b>Commission</b></i>&rdquo;) to the effect that the transfer of such Securities without registration will not result in a recommendation by the staff of the Commission that action be taken with respect thereto, whereupon the Holder of the Securities shall be entitled to transfer the Securities in accordance with the terms of the notice delivered by the Holder to the Company; <u>provided</u>, <u>however</u>, no such registration statement or opinion of counsel shall be necessary for a transfer by a Holder to any affiliate of such Holder if the transferee agrees in writing to be subject to the terms hereof to the same extent as if such transferee were the original Holder hereunder. Each certificate evidencing the Securities transferred as above provided shall bear the appropriate restrictive legend set forth above, except that such certificate shall not bear such restrictive legend if in the opinion of counsel for the Company such legend is not required in order to establish compliance with any provisions of the Securities Act.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Replacement of Warrants</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of the Warrant, and in the case of any such loss, theft or destruction of the Warrant, on delivery of an indemnity agreement or security reasonably satisfactory in form and amount to the Company, and reimbursement to the Company of all reasonable expenses incidental thereto, and upon surrender and cancellation of the Warrant if mutilated, the Company will execute and deliver, in lieu thereof, a new Warrant of like tenor.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">10.&nbsp;&nbsp; <u>Miscellaneous</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Warrant shall be governed by the laws of the State of Georgia, without regard to the conflict of laws provisions thereof. The headings in this Warrant are for purposes of convenience of reference only, and shall not be deemed to constitute a part hereof. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provisions. All notices and other communications from the Company to the holder of this Warrant shall be given in writing and shall be deemed effectively given as provided in the Purchase Agreement.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">4</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">11.&nbsp;&nbsp; <u>Amendment; Waiver</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Any term of this Warrant may be amended, and any provision hereof waived, only with the written consent of the Company and the Holder.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">[THE NEXT PAGE IS THE SIGNATURE PAGE]</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">5</div>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">IN WITNESS WHEREOF, the undersigned officer of the Company has set his hand as of the date first above written.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<td style="width: 50%;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">GEOVAX LABS, INC., a Delaware corporation&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">By: <u>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u></font></p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">Name:</p>

			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: justify;">Title:</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;"><b>SIGNATURE PAGE TO COMMON STOCK PURCHASE WARRANT</b></p>

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<DOCUMENT>
<TYPE>EX-10.18
<SEQUENCE>12
<FILENAME>ex_107985.htm
<DESCRIPTION>EXHIBIT 10.18
<TEXT>
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	<title>ex_107985.htm</title>

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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.18</b></font></p>

<p style="margin-bottom: 0px; margin-top: 0px; text-align: center;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font><img src="maxim.jpg"></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Dr. Robert T. McNally</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">President<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> &amp; Chief Executive Officer</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">1900 Lake Park Drive</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Suite 380</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Atlanta, Georgia 30080</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Dr<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. McNally:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">We are pleased that <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">GeoVax Labs, Inc. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">(&ldquo;<b>GeoVax</b>&rdquo; or the &ldquo;<b>Company</b>&rdquo;) has decided to retain Maxim Group LLC (&ldquo;<b>Maxim</b>&rdquo;) to provide general financial advisory and investment banking services to the Company as set forth herein. This letter agreement (&ldquo;<b>Agreement</b>&rdquo;) will confirm Maxim&rsquo;s acceptance of such retention and set forth the terms of our engagement.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">1.</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><u>Retention</u><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">. The Company hereby retains Maxim as its financial advisor and investment banker to provide general financial advisory and investment banking services, and Maxim accepts such retention on the terms and conditions set forth in this Agreement. In connection with this Agreement, Maxim may provide certain or all of the following services (collectively referred to as the &ldquo;<b>Advisory Services</b>&rdquo;): </font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

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			<td style="width: 27pt;">
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: justify; font-size: 10pt;">(a)</p>
			</td>
			<td>
			<p style="font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt; text-align: justify; font-size: 10pt; text-indent: 0pt;">provide a valuation analysis of the Company including:<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&nbsp;</font></p>
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			<td style="width:72pt;">&nbsp;</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">I.</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Comparable company analysis;</p>
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			<td style="width:72pt;">&nbsp;</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">II.</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Precedent transaction analysis;</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

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			<td style="width:36pt;">&nbsp;</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(b)</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">assist m`anagement of the Company and a<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">dvise the Company with respect to its strategic planning process and business plans including an analysis of markets, positioning, financial models, organizational structure, potential strategic alliances and capital requirements;</font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:63pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

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			<td style="width:36pt;">&nbsp;</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(c)</p>
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			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">advise the Company on matters relating to its capitalization<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"> including a potential national exchange listing; </font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:63pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-27pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;">&nbsp;</td>
			<td style="width:27pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(d)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">assist management of the Company with the preparation of the Company<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s marketing materials and investor presentations;</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;">&nbsp;</td>
			<td style="width:27pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(e)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">assist the Company with strategic introductions;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;">&nbsp;</td>
			<td style="width:27pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(f)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">work closely with the Company<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s management team to develop a set of long and short-term goals with special focus on enhancing corporate and shareholder value. This will include assisting the Company in determining key business actions, including assistance with strategic partnership discussions and review of financing requirements, intended to help enhance shareholder value and exposure to the investment community;</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:63pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;">&nbsp;</td>
			<td style="width:27pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(g)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">advise the Company on potential financing alternatives and merger and acquisition criteria and activity, including facilitation and negotiation of any financial or structural aspects of such alternatives; and</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:63pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-27pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;">&nbsp;</td>
			<td style="width:27pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(h)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">provide such other financial advisory and investment banking services upon which the parties may mutually agree.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 *<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp; tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <u>www.maximgrp.com</u> </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">New York, NY * Long Island, NY * Redbank, NJ * Boca Raton, FL * Lafayette, CA</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

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<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

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</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

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		<tr>
			<td style="width: 50%;">
			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
			</td>
			<td style="width: 50%;">
			<div style="text-align: right;"><img src="mazim_sm.jpg"></div>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">It is expressly understood and agreed that Maxim shall be required to perform only such tasks as may be necessary or desirable in connection with the rendering of its services hereunder and therefore may not perform all of the tasks enumerated above during the term of this Agreement. <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Moreover, it is further understood that Maxim need not perform each of the above-referenced tasks in order to receive the fees described in Section 3. It is further understood that Maxim&rsquo;s tasks may not be limited to those enumerated in this paragraph.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Information</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. In connection with Maxim&rsquo;s activities hereunder, the Company will cooperate with Maxim and furnish Maxim upon request with all information regarding the business, operations, properties, financial condition, management and prospects of the Company (all such information so furnished being the &ldquo;<b>Information</b>&rdquo;) which Maxim deems appropriate and will provide Maxim with access to the Company&rsquo;s officers, directors, employees, independent accountants and legal counsel. The Company represents and warrants to Maxim that all Information made available to Maxim hereunder will be complete and correct in all material respects and will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading in light of the circumstances under which such statements are or will be made. The Company further represents and warrants that any projections and other forward-looking information provided by it to Maxim will have been prepared in good faith and will be based upon assumptions which, in light of the circumstances under which they are made, are reasonable. The Company recognizes and confirms that Maxim: (i) will use and rely primarily on the Information and on information available from generally recognized public sources in performing the services contemplated by this Agreement without having independently verified the same; (ii) does not assume responsibility for the accuracy or completeness of the Information and such other information; and (iii) will not make an appraisal of any assets of the Company. Any advice rendered by Maxim pursuant to this Agreement may not be disclosed publicly without Maxim&rsquo;s prior written consent, except as required by law. Maxim will treat all non-public information received from you confidentially and will not use such information for any purpose except to provide services to you hereunder. Maxim will not disclose such information except (i) to Maxim&rsquo;s officers, employees, agents and representatives as necessary to perform the services (provided such persons are under obligation to keep such information confidential), (ii) with the Company&#39;s prior consent, (iii) if such information is made publicly available other than by Maxim in violation of this agreement, or (iv) as is otherwise required by law or judicial or regulatory process (provided that to the extent practicable, Maxim notifies the Company of such requirement in sufficient time to allow the Company the opportunity to seek a protective order or other means of maintaining the confidentiality of such Information</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">3.&nbsp;&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <u>Compensation</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. As consideration for Maxim&rsquo;s services pursuant to this Agreement, Maxim shall be entitled to receive, and the Company agrees to pay Maxim, the following compensation:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 2%; vertical-align: top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(a)</p>
			</td>
			<td style="vertical-align: top; width: 95%;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">The Company shall pay to Maxim a non-refundable monthly fee of $7,500 (USD) for the term of this Agreement; however in no event shall the Company pay fewer than six (6) monthly fee payments to Maxim. Upon execution of this Agreement, the monthly fee payments will accrue, without interest, on a monthly basis and the total monthly fee payment amount accrued will be payable on the six (6) month anniversary of the Agreement. Thereafter, monthly fee payments shall be payable at the beginning of each month until the termination of the Agreement (subject to the minimum six month time period detailed in the preceding sentence). The monthly fee payments shall be payable by wire or other immediately available funds. The fees appearing in Exhibit B (hereto, the &ldquo;Fee Schedule&rdquo;) shall be earned by and paid to Maxim by the Company in connection with any Financings (as such terms are defined hereafter) undertaken by the Company, the full terms of which will be will be mutually agreed upon under separate advisory, placement agency and/or underwriting agreements. The fees enumerated in Exhibit B are separate and apart from the monthly fee payments enumerated earlier in this paragraph.</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:45pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:45pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

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</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">
			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
			</td>
			<td style="width: 50%;">
			<div>
			<div style="text-align: right;"><img src="mazim_sm.jpg"></div>
			</div>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 2%; vertical-align: top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(b)</p>
			</td>
			<td style="vertical-align: top; width: 95%;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">Simultaneous to the execution of this Agreement, <font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"> the Company will issue to Maxim or its designees 5,000,000 shares of its common stock (&ldquo;<b>Common Stock</b>&rdquo;). The shares of Common Stock will have customary piggyback registration rights similar to those that accompanied the shares it acquired upon exercise of the warrant to acquire the Company&rsquo;s common stock it previously held, with the exception that such piggyback registration rights shall not apply to any registration statements filed by the Company related to shares held by, or issuable to, Sabby Management LLC or any of its affiliates.. Upon Maxim&rsquo;s request, the Company will use its best efforts to promptly deliver an opinion of its counsel to the transfer agent to remove the restrictive legend from the Common Stock pursuant to Rule 144; however, this requirement does not apply if the Company reasonably believes in good faith that the conditions for removal of the restrictive legend under Rule 144 have not been met.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:45pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width: 3%;">&nbsp;</td>
			<td style="width: 2%; vertical-align: top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(c)</p>
			</td>
			<td style="vertical-align: top; width: 95%;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">The Company and Maxim acknowledge and agree that, in the course of performing services hereunder<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;"> and with the Company&rsquo;s permission, Maxim may communicate with (as the Company&rsquo;s advisor) or introduce the Company to third parties approved in advance by the Company who may be interested in providing equity financing to the Company (a &ldquo;<b>Financing</b>&rdquo;). The Company agrees that if during the term of this Agreement or within twelve (12) months from the effective date of the termination of this Agreement either the Company, on one hand, or any party to whom the Company was introduced by Maxim or who was contacted by Maxim on behalf of the Company during the term hereof in connection with a possible Financing for the Company on the other hand, proposes a Financing involving the Company, then, if any such Financing is consummated, the Company shall pay to Maxim fees in accordance with the Fee Schedule. Such fees shall be payable to Maxim in cash at the closing or closings of the Financing to which it relates. The parties agree and acknowledge that any Financing received from Sabby Management LLC or any of its affiliates are excluded from the rights detailed in this Section 3(c).</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:45pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">4.&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; <u>Expenses</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. In addition to payment to Maxim of the compensation set forth in Section 3 hereof, the Company shall promptly upon request from time to time reimburse Maxim for all reasonable expenses (including, without limitation, reasonable fees and disbursements of counsel and all travel and other out-of-pocket expenses) incurred by Maxim in connection with its engagement hereunder. Maxim will provide the Company an invoice and copies of receipts pursuant to its expenses and such expenses shall not exceed $5,000<b> </b>in the aggregate without prior and specific authorization of the Company; provided that the foregoing limitation and consent shall not apply to legal fees.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">5. &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <u>Indemnification</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The Company agrees to indemnify Maxim in accordance with the indemnification and other provisions attached to this Agreement as <u>Exhibit A</u> (the &ldquo;<b>Indemnification Provisions</b>&rdquo;), which provisions are incorporated herein by reference and shall survive the termination or expiration of this Agreement. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">6.&nbsp; &nbsp; &nbsp;&nbsp; &nbsp;&nbsp; Intentionally Left Blank<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

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<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">
			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
			</td>
			<td style="width: 50%;">
			<div style="text-align: right;"><img src="mazim_sm.jpg"></div>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">7.&nbsp;&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <u>Other Activities</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>; Maxim Representation</u>. The Company acknowledges that Maxim has been, and may in the future be, engaged to provide services as an underwriter, placement agent, finder, advisor and investment banker to other companies in the industry in which the Company is involved. Subject to the confidentiality provisions of Maxim contained in Section 2 hereof, the Company acknowledges and agrees that nothing contained in this Agreement shall limit or restrict the right of Maxim or of any member, manager, officer, employee, agent or representative of Maxim, to be a member, manager, partner, officer, director, employee, agent or representative of, investor in, or to engage in, any other business, whether or not of a similar nature to the Company&rsquo;s business, nor to limit or restrict the right of Maxim to render services of any kind to any other corporation, firm, individual or association. Maxim may, but shall not be required to, present opportunities to the Company. Maxim represents that it is registered as a broker-dealer and has met and will continue to meet all registration, and licensing requirements that it is required to meet under applicable regulations in order to lawfully provide the services that Maxim has agreed to provide, or that Maxim contemplates that it will provide, to the Company. Maxim will not provide any services, for which it does not have the requisite licenses, registrations and approvals necessary to comply with all applicable regulations. Maxim is in good standing with FINRA.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">8.&nbsp;&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <u>Term and </u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>Termination; Survival of Provisions</u>. Either Maxim or the Company may terminate this Agreement at any time upon 30 days&rsquo; prior written notice to the other party, effective at any time after the six (6) month anniversary of this Agreement. Unless a termination occurs prior to such date, this engagement will expire on December 31, 2018. In the event of such termination, the Company shall pay and deliver to Maxim: (i) all compensation earned through the date of such termination (&ldquo;<b>Termination Date</b>&rdquo;) pursuant to any provision of Section 3 hereof, (ii) all compensation which may be earned by Maxim after the Termination Date pursuant to Section 3 hereof, and (iii) shall reimburse Maxim for all expenses incurred by Maxim in connection with its services hereunder pursuant to Section 4 hereof. All such fees and reimbursements due to Maxim pursuant to the immediately preceding sentence shall be paid to Maxim on or before the Termination Date (in the event such fees and reimbursements are earned or owed as of the Termination Date) or upon the closing of a Financing or any applicable portion thereof (in the event such fees are due pursuant to the terms of Section 3 hereof). If the Company terminates the Agreement for Cause (as hereinafter defined), upon thirty (30) days&rsquo; notice and effective within twelve months of the execution of this Agreement, Maxim shall return the pro rata amount of the Common Stock described in Section 3(b) above based on the amount of time remaining in such six (6) month period. Pursuant to this Agreement, &ldquo;Cause&rdquo; shall mean gross negligence, willful misconduct or an uncured material breach of this Agreement by Maxim of which the Company has provided Maxim with reasonable notice. </font><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Notwithstanding anything expressed or implied herein to the contrary: (i) any other agreement entered into between Maxim and the Company may only be terminated in accordance with the terms thereof, unless otherwise specifically provided therein, and (ii) the terms and provisions of Sections 3, 4, 5 (including, but not limited to, the Indemnification Provisions attached to this Agreement and incorporated herein by reference), 8, 9, 10, 11, 15 and 17 shall survive the termination of this Agreement.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">9.&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <u>Notices</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>.</u> All notices will be in writing and will be effective when delivered in person or sent via U.S. Mail or private carrier or via facsimile or email and confirmed by letter, to the party to whom it is addressed at the following addresses or such other address as such party may advise the other in writing:</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:6pt;margin-top:0pt;text-align:justify;text-indent:-36pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 15%;">To the Company:</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Dr. Robert T. McNally</font></td>
		</tr>
		<tr>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;">President &amp; Chief Executive Officer</td>
		</tr>
		<tr>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;">GeoVax Labs, Inc.</td>
		</tr>
		<tr>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;">1900 Lake Park Drive</td>
		</tr>
		<tr>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;">Suite 380</td>
		</tr>
		<tr>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;">Atlanta, Georgia 30080</td>
		</tr>
		<tr>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;">Telephone: <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">(678) 384-7220</font></td>
		</tr>
		<tr>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;">Facsimile:</td>
		</tr>
		<tr>
			<td style="width: 15%;">&nbsp;</td>
			<td style="width: 5%;">&nbsp;</td>
			<td style="width: 80%;">Email: rmcnally@geovax.com</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:108pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>

<p>&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">
			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
			</td>
			<td style="width: 50%;">
			<div style="text-align: right;"><img src="mazim_sm.jpg"></div>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<p style="margin: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 33%;">&nbsp;</td>
			<td style="width: 33%;">With a copy to:</td>
			<td style="width: 33%;">&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Mark W. Reynolds</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Chief Financial Officer</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>GeoVax Labs, Inc.</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>1900 Lake Park Drive</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Suite 380</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Atlanta, Georgia 30080</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Telephone: (678) 384-7220</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Facsimile:<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> (678) 384-7281</font></td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Email: mreynolds@geovax.com</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>And</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>T. Clark Fitzgerald III</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Womble Bond Dickinson (US) LLP</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>271 17<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><sup>th</sup> Street NW</font></td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Suite 271</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Atlanta, GA 30363-1017</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Telephone: (404) 879-2455</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Facsimile:</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Email: clark.fitzgerald@wbd-us.com</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>To Maxim:</td>
			<td><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">James Siegel, Esq.</font></td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Maxim Group LLC</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>405 Lexington Avenue</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>New York, NY 10174</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Telephone: (212) 895-3508</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Facsimile: (212) 895-38<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">60</font></td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Email:</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Mr. Clifford Teller</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Maxim Group LLC</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>405 Lexington Avenue</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>New York, NY 10174</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>Email:</td>
			<td>&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:108pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">10.&nbsp;&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <u>Governing Law</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Agreement shall be enforced, governed by and construed in accordance with the laws of New York without regard to principles of conflict of laws. Any controversy between the parties to this Agreement, or arising out of the Agreement shall be resolved by arbitration before the American Arbitration Association (&ldquo;<b>AAA</b>&rdquo;) in New York City. The following arbitration agreement should be read in conjunction with these disclosure.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">ARBITRATION IS FINAL AND BINDING ON THE PARTIES;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(b)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">THE PARTIES ARE WAIVING THEIR RIGHT TO SEEK REMEDIES IN COURT, INCLUDING THE RIGHT TO JURY TRIAL;</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(c)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">PRE-ARBITRATION DISCOVERY IS GENERALLY MORE LIMITED THAN AND DIFFERENT FROM COURT PROCEEDING; AND</font></p>
			</td>
		</tr>

</table>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">(d)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;"><font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">THE ARBITRATORS&rsquo; AWARD IS NOT REQUIRED TO INCLUDE FACTUAL FINDING OR LEGAL REASONING AND ANY PARTY&rsquo;S RIGHT TO APPEAL OR TO SEEK MODIFICATION OF RULINGS BY THE ARBITRATORS IS STRICTLY LIMITED.</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;text-indent:-36pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">
			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
			</td>
			<td style="width: 50%;">
			<div style="text-align: right;"><img src="mazim_sm.jpg"></div>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">ARBITRATION AGREEMENT<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. ANY AND ALL CONTROVERSIES, DISPUTES OR CLAIMS BETWEEN THE UNDERSIGNED AND YOU OR YOUR AGENTS, REPRESENTATIVES, EMPLOYEES, DIRECTORS, OFFICERS OR CONTROL PERSONS, ARISING OUT OF, IN CONNECTION WITH, FROM OR WITH RESPECT TO (a) ANY PROVISIONS OF OR THE VALIDITY OF THIS AGREEMENT OR ANY RELATED AGREEMENTS, (b) THE RELATIONSHIP OF THE PARTIES HERETO, OR (c) ANY CONTROVERSY ARISING OUT OF YOUR BUSINESS SHALL BE CONDUCTED BY THE AMERICAN ARBITRATION ASSOCIATION UNDER ITS COMMERCIAL RULES. ARBITRATION MUST BE COMMENCED BY SERVICE OF A WRITTEN DEMAND FOR ARBITRATION OR A WRITTEN NOTICE OF INTENTION TO ARBITRATE. IF YOU ARE A PARTY TO SUCH ARBITRATION, TO THE EXTENT PERMITTED BY THE RULES OF THE APPLICABLE ARBITRATION TRIBUNAL, THE ARBITRATION SHALL BE CONDUCTED IN NEW YORK, NEW YORK. THE DECISION AND AWARD OF THE ARBITRATORS(S) SHALL BE CONCLUSIVE AND BINDING UPON ALL PARTIES, AND ANY JUDGMENT UPON ANY AWARD RENDERED MAY BE ENTERED IN THE STATE OR FEDERAL COURTS LOCATED IN NEW YORK, NEW YORK, OR ANY OTHER COURT HAVING JURISDICTION THEREOF, AND NEITHER PARTY SHALL OPPOSE SUCH ENTRY. </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">11. &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <u>Amendments</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Agreement may not be modified or amended except in a writing duly executed by the parties hereto.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">12.&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; <u>Headings</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The section headings in this Agreement have been inserted as a matter of reference and are not part of this Agreement.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">13.&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; <u>Successors and Assigns</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. The benefits of this Agreement shall inure to the parties hereto, their respective successors and assigns and to the indemnified parties hereunder and their respective successors and assigns, and the obligations and liabilities assumed in this Agreement shall be binding upon the parties hereto and their respective successors and assigns. Notwithstanding anything contained herein to the contrary, neither Maxim nor the Company shall assign any of its obligations hereunder without the prior written consent of the other party.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">14.&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; &nbsp; <u>No Third Party Beneficiaries</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Agreement does not create, and shall not be construed as creating, any rights enforceable by any person or entity not a party hereto, except those entitled to the benefits of the Indemnification Provisions. Without limiting the foregoing, the Company acknowledges and agrees that Maxim is not being engaged as, and shall not be deemed to be, an agent or fiduciary of the Company&rsquo;s stockholders or creditors or any other person by virtue of this Agreement or the retention of Maxim hereunder.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Waiver</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Any waiver or any breach of any of the terms or conditions of this Agreement shall not operate as a waiver of any other breach of such terms or conditions or of any other term or condition, nor shall any failure to insist upon strict performance or to enforce any provision hereof on any one occasion operate as a waiver of such provision or of any other provision hereof or a waiver of the right to insist upon strict performance or to enforce such provision or any other provision on any subsequent occasion. Any waiver must be in writing.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:4.5pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">16.&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; <u>Counterparts</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. This Agreement may be executed in any number of counterparts and by facsimile transmission, each of which shall be deemed to be an original instrument, but all of which taken together shall constitute one and the same agreement. Facsimile signatures and copies of signatures delivered by email shall be deemed to be original signatures for all purposes.</font></p>

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			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">17.&nbsp;&nbsp; &nbsp; &nbsp; &nbsp;&nbsp; <u>Disclaimers</u><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">. Maxim and the Company further agree that neither Maxim nor any of its affiliates or any of its/their respective officers, directors, controlling persons (within the meaning of Section 15 of the Act or Section 20 of the Exchange Act of 1934), employees or agents shall have any liability to the Company, its security holders or creditors, or any person asserting claims on behalf of or in the right of the Company (whether direct or indirect, in contract, tort, for an act of negligence or otherwise) for any losses, fees, damages, liabilities, costs, expenses or equitable relief arising out of or relating to this Agreement or the Advisory Services rendered herein, except for losses, fees, damages, liabilities, costs or expenses that arise out of or are based on any action of or failure to act by Maxim or any such officers, directors, controlling persons (within the meaning of Section 15 of the Act or Section 20 of the Exchange Act of 1934), employees or agents and that are finally and fully judicially determined to have resulted solely from the gross negligence or willful misconduct of Maxim officers, directors, controlling persons (within the meaning of Section 15 of the Act or Section 20 of the Exchange Act of 1934), employees or agents.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>

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			<p style="margin: 0pt;">February 14, 2018</p>

			<p style="margin: 0pt;">GeoVax Labs, Inc.</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left; text-indent: 36pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">If the terms of our engagement as set forth in this letter are satisfactory to you, please confirm by signing and returning one copy of this letter. </font></p>

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			<p style="margin-top: 0; margin-bottom: 0;">Very truly yours,</p>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<td colspan="2" valign="top" width="38%">MAXIM GROUP LLC</td>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">By: </font></p>
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			<p style="margin-top: 0; margin-bottom: 0;">Ritesh Veera<font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;">Managing Director, Investment Banking<font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">By: </font></p>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;">Clifford A. Teller<font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;">Executive Managing <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">Director, Investment Banking&nbsp;</font></p>
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			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:216pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:216pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:216pt;margin-right:0pt;margin-top:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Agreed to and accepted this </b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>14</b><b>th</b><b> </b><b>day of </b><b>February</b><b>, </b><b>2018</b></font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">GeoVax Lab, Inc.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">_____________________________</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Dr. Robert T. McNally</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">President &amp; Chief Executive Officer</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Exhibit A</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>INDEMNIFICATION PROVISIONS</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Capitalized terms used in this Exhibit shall have the meanings ascribed to such terms in the Agreement to which this Exhibit is attached.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The Company <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">agrees to indemnify and hold harmless Maxim and each of the other Indemnified Parties (as hereinafter defined) from and against any and all losses, claims, damages, obligations, penalties, judgments, awards, liabilities, costs, expenses and disbursements, and any and all actions, suits, proceedings and investigations in respect thereof and any and all legal and other costs, expenses and disbursements in giving testimony or furnishing documents in response to a subpoena or otherwise (including, without limitation, the costs, expenses and disbursements, as and when incurred, of investigating, preparing, pursing or defending any such action, suit, proceeding or investigation (whether or not in connection with litigation in which any Indemnified Party is a party)) (collectively, &ldquo;<b>Losses</b>&rdquo;), directly or indirectly, caused by, relating to, based upon, arising out of, or in connection with, Maxim&rsquo;s acting for the Company, including, without limitation, any act or omission by Maxim in connection with its acceptance of or the performance or non-performance of its obligations under the Agreement between the Company and Maxim to which these indemnification provisions are attached and form a part (the &ldquo;<b>Agreement</b>&rdquo;), any breach by the Company of any representation, warranty, covenant or agreement contained in the Agreement (or in any instrument, document or agreement relating thereto, unless otherwise provided therein), or the enforcement by Maxim of its rights under the Agreement or these indemnification provisions, except to the extent that any such Losses are found in a final judgment by a court of competent jurisdiction (not subject to further appeal) to have resulted primarily and directly from the gross negligence or willful misconduct of an Indemnified Party. The Company also agrees that no Indemnified Party shall have any liability (whether direct or indirect, in contract or tort or otherwise) to the Company for or in connection with the engagement of Maxim by the Company, except to the extent that any such liability is found in a final judgment by a court of competent jurisdiction (not subject to further appeal ) to have resulted primarily and directly from such Indemnified Party&rsquo;s gross negligence or willful misconduct.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">These Indemnification Provisions shall extend to the following persons (collectively, the &ldquo;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><b>Indemnified Parties</b>&rdquo;): Maxim, its present and former current affiliated entities, managers, members, officers, employees, legal counsel, agents and controlling persons (within the meaning of the federal securities laws), and the officers, directors, partners, stockholders, members, managers, employees, legal counsel, agents and controlling persons of any of them. These indemnification provisions shall be in addition to any liability which the Company may otherwise have to any Indemnified Party.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">If any action, suit, proceeding or investigation is commenced, as to which an Indemnified Party proposes to demand indemnification, it shall notify the Company with reasonable promptness; <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>provided</u>, <u>however</u>, that any failure by an Indemnified Party to notify the Company shall not relieve the Company from its obligations hereunder, except to the extent such failure to notify causes the Company to suffer actual and material prejudice as a result of such failure. If the Company so elects, the Company may assume the defense of such action or proceeding in a timely manner, including the employment of counsel (reasonably satisfactory to us) and payment of expenses, <i>provided</i> the Company permits an Indemnified Person and counsel retained by an Indemnified Person at its expense to participate in such defense. Notwithstanding the foregoing, in the event (i) the Company fails promptly to assume the defense and employ counsel reasonably satisfactory to us, or (ii)&nbsp;the Indemnified Person has been advised by counsel that there exist actual or potential conflicting interests between the Company or its counsel and such Indemnified Person, an Indemnified Person may employ separate counsel (in addition to any local counsel) to represent or defend </font></p>

<hr align="center" style="width: 0%;color: #000000;background-color: #000000;border: none;">
<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">such Indemnified Person in such action or proceeding, and the Company agrees to pay the reasonable fees and disbursements of such separate counsel as incurred; <i>provided however</i>, that the Company will not, in connection with any one such action or proceeding, or separate but substantially similar actions or proceedings arising out of the same general allegations, be liable for fees and expenses of more than one separate firm of attorneys (in addition to any local counsel). </font></p>

<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>

<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">
			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
			</td>
			<td style="width: 50%;">
			<div style="text-align: right;"><img src="mazim_sm.jpg"></div>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">The Company shall not, without the prior written consent of Maxim, settle or compromise any claim, or permit a default or consent to the entry of any judgment in respect thereof, unless such settlement, compromise or consent (i) includes, as an unconditional term thereof, the giving by the claimant to all of the Indemnified Parties of an unconditional release from all liability in respect of such claim, and (ii) does not contain any factual or legal admission by or with respect to an Indemnified Party or an <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">inaccurate adverse statement with respect to the character, professionalism, expertise or reputation of any Indemnified Party or any action or inaction of any Indemnified Party. Without the Company&rsquo;s prior written consent, which will not be unreasonably withheld, delayed or conditioned, no Indemnified Person will settle or compromise any claim for which indemnification or contribution may be sought hereunder. Notwithstanding the foregoing sentence, if at any time an Indemnified Person requests that the Company reimburse the Indemnified Person for fees and expenses as provided in the Agreement, the Company agrees that it will be liable for any settlement of any proceeding effected without its prior written consent if (i) such settlement is entered into more than 30 days after receipt by the Company of the request for reimbursement, and (ii) the Company will not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement.</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">In order to provide for just and equitable contribution, if a claim for indemnification pursuant to these indemnification provisions is made but it is found in a final judgment by a court of competent jurisdiction (not subject to further appeal) that such indemnification may not be enforced in such case, even though the express provisions hereof provide for indemnification in such case, then the Company shall contribute to the Losses to which any Indemnified Party may be subject (i) in accordance with the relative benefits received by the Company on the one hand, and the Indemnified Party, on the other hand, and (ii) if (and only if) the allocation provided in clause (i) of this sentence is not permitted by applicable law, in such proportion as to reflect not only the relative benefits, but also the relative fault of the Company, on the one hand, and the Indemnified Party, on the other hand, in connection with the statements, acts or omissions which resulted in such Losses as well as any relevant equitable considerations. No person found liable for a fraudulent misrepresentation shall be entitled to contribution from any person who is not also found liable for fraudulent misrepresentation. The relative benefits received (or anticipated to be received) by the Company shall be deemed to be equal to the aggregate consideration payable or receivable by such parties in connection with the transaction or transactions to which the Agreement relates relative to the amount of fees actually received by Maxim in connection with such transaction or transactions. Notwithstanding the foregoing, in no event shall the amount contributed by all Indemnified Parties exceed the amount of fees previously received by Maxim pursuant to the Agreement.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">Neither termination nor completion of the Agreement shall affect these Indemnification Provisions which shall remain operative and in full force and effect. The Indemnification Provisions shall be binding upon the Company and its successors and assigns and shall inure to the benefit of the Indemnified Parties and their respective successors, assigns, heirs and personal representatives.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div id="PGNUM" style="text-align: center; width: 100%">&nbsp;</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div id="PGHDR" style="text-align: left; width: 100%">&nbsp;</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr>
			<td style="width: 50%;">
			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">February<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> 14, 2018</font></p>

			<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">GeoVax Labs, Inc.</p>
			</td>
			<td style="width: 50%;">
			<div style="text-align: right;"><img src="mazim_sm.jpg"></div>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Exhibit B</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>FEE SCHEDULE</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Capitalized terms used in this Exhibit shall have the meanings ascribed to such terms in the Agreement to which this Exhibit is attached.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:top;width:3.8%;">&nbsp;</td>
			<td style="vertical-align:top;width:97.2%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:0.9pt;"><b>&nbsp;</b></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:0.9pt;"><b>1.</b><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;<b>For any Financing, the Company shall:</b></font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:0.9pt;">(i)<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">pay Maxim a cash fee of eight percent (8.0%) of the amount of capital raised, invested or committed; <u>and</u>&nbsp;</font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:53.1pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-35.1pt;">(ii)<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">deliver a warrant to Maxim (the &ldquo;<b>Agent Warrant</b>&rdquo;) to purchase shares of the Company&rsquo;s common stock (the &ldquo;<b>Common Stock</b>&rdquo;) equal to eight percent (8.0%) of the number of shares of Common Stock underlying the securities issued in the Financing. Such Agent Warrant will be issued at each Closing and shall provide, among other things, that the Agent Warrant shall (i) be exercisable at an exercise price of 110% to the price of the securities (or the exercise price of the securities) issued to the investors in the Financing, (ii) expire five (5) years from the date of issuance, (iii) contain standard anti-dilution protection and such other anti-dilution price protection provided to the investors in the Financing, (iv) include registration rights equal to those provided to the investors, (v) contain provisions for cashless exercise and (vi) include such other terms as are normal and customary for warrants of this type.</font></p>

			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">Members FINRA &amp; SIPC</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:center;">405 Lexington Ave. * New York, NY 10174 * tel (212) 895-3500 * (800) 724-0761 * fax (212) 895-3783 * <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"><u>www.maximgrp.com</u> </font></p>
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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>13
<FILENAME>ex_107986.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;text-indent:0pt;"><b>Exhibit 31.1</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CERTIFICATION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>PURSUANT TO RULE 13a-14(a) or 15d-14(a)</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>OF THE </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SECURITIES EXCHANGE ACT OF 1934</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">I, Robert T. McNally, certify that:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(1)</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">I have reviewed this annual report on Form 10-K of GeoVax Labs, Inc.;</p>
			</td>
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</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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			<td style="width:18pt;">&nbsp;</td>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(2)</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</p>
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</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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			<td style="width:18pt;">&nbsp;</td>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(3)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</p>
			</td>
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</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:18pt;">&nbsp;</td>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(4)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">The registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font></p>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">a.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</p>
			</td>
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</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">b.</p>
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			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p>
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</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">c.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Evaluated the effectiveness of the registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">d.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Disclosed in this report any change in the registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(5)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">The registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">a.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s ability to record, process, summarize and report financial information; and</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="text-transform:uppercase;font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="text-transform:lowercase;">b.</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="text-transform:uppercase;font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="text-transform:lowercase;"><font style="text-transform:uppercase;">A</font><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">ny fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</font></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td align="left" style="text-align: left;" valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font>Dated: <font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">March 23, 2018</font></p>
			</td>
			<td style="text-align: left" valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;">&nbsp;</p>
			</td>
			<td align="left" nowrap="nowrap" style="BORDER-BOTTOM: #000000 1px solid" valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">/s/&nbsp;Robert T. McNally</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">Robert T. McNally&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign="top" width="50%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="3%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
			<td valign="top" width="35%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">President and Chief Executive Officer&nbsp;</font></p>
			</td>
			<td valign="top" width="12%">
			<p style="margin-top: 0; margin-bottom: 0;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>
			</td>
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>14
<FILENAME>ex_107987.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
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	<title>ex_107987.htm</title>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;text-indent:0pt;"><b>Exhibit 31.2</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CERTIFICATION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>PURSUANT TO RULE 13a-14(a) or 15d-14(a)</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>OF THE </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SECURITIES EXCHANGE ACT OF 1934</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">I, Mark W. Reynolds, certify that:</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(1)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">I have reviewed this annual report on Form 10-K of GeoVax Labs, Inc.;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(2)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(3)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(4)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">The registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">a.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Designed such disclosure controls and procedures, or caused such disclosure control<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">s and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">b.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">c.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Evaluated the effectiveness of the registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">d.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">Disclosed in this report any change in the registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width:18pt;">&nbsp;</td>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">(5)</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">The registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:54pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">a.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant<font style="font-size:10pt;font-family:'Times New Roman', Times, serif;">&rsquo;s ability to record, process, summarize and report financial information; and</font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="width:54pt;">&nbsp;</td>
			<td style="width:18pt;vertical-align:top;">
			<p style="text-transform:uppercase;font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;"><font style="text-transform:lowercase;">b.</font></p>
			</td>
			<td style="vertical-align:top;">
			<p style="text-transform:uppercase;font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">A<font style="text-transform:lowercase;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">ny fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</font></font></p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:72pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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		<tr>
			<td style="vertical-align:top;width:50%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Dated: March 23, 2018</font></p>
			</td>
			<td style="vertical-align:top;width:3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:35%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;Mark W. Reynolds</font></p>
			</td>
			<td style="vertical-align:top;width:12%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:35%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Mark W. Reynolds</font></td>
			<td style="vertical-align:top;width:12%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;width:35%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Chief Financial Officer</font></td>
			<td style="vertical-align:top;width:12%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;">&nbsp;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>15
<FILENAME>ex_107988.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<html>
<head>
	<title>ex_107988.htm</title>

	<!-- Created by RDG HTML Converter v1.1.0.0 3/14/2018 8:31:03 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 10px; margin-right: 10px; cursor: auto;">
<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;"><b>Exhibit 32.1</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CERTIFICATION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>PURSUANT TO 18 U.S.C. SECTION 1350 </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>AS ADOPTED PURSUANT TO SECTION 906</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>OF THE SARBANES-OXLEY ACT OF 2002</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In connection with the annual report of GeoVax Labs, Inc. (the &quot;Company&quot;) on Form 10-K for <font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">the year ended December&nbsp;31, 2017, I, Robert T. McNally, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes - Oxley Act of 2002, that to the best of my knowledge: </font></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">The annual report fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">The information contained in the annual report fairly presents, in all material respects, the financial condition and results of operations of the Company.</p>
			</td>
		</tr>

</table>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:79.5pt;margin-right:7.5pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:top;width:50%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Dated: March 23, 2018</font></p>
			</td>
			<td style="vertical-align:top;width:3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:35%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;Robert T. McNally</font></p>
			</td>
			<td style="vertical-align:top;width:12%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">&nbsp;</td>
			<td style="vertical-align:top;width:3%;">&nbsp;</td>
			<td style="vertical-align:top;width:35%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Robert T. McNally</font></td>
			<td style="vertical-align:top;width:12%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">&nbsp;</td>
			<td style="vertical-align:top;width:3%;">&nbsp;</td>
			<td style="vertical-align:top;width:35%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">President and Chief Executive Officer</font></td>
			<td style="vertical-align:top;width:12%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>16
<FILENAME>ex_107989.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<html>
<head>
	<title>ex_107989.htm</title>

	<!-- Created by RDG HTML Converter v1.1.0.0 3/14/2018 8:31:08 PM --><meta charset="utf-8"><meta name="format-detection" content="telephone=no"/>
</head>
<body style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 10px; margin-right: 10px; cursor: auto;">
<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:right;"><b>Exhibit 32.2</b></p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CERTIFICATION</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>PURSUANT TO 18 U.S.C. SECTION 1350 </b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>AS ADOPTED PURSUANT TO SECTION 906</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>OF THE SARBANES-OXLEY ACT OF 2002</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In connection with the annual report of GeoVax Labs, Inc. (the &quot;Company&quot;) on Form 10-K for<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;"> the year ended December&nbsp;31, 2017, I, Mark W. Reynolds, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes - Oxley Act of 2002, that to the best of my knowledge: </font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

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			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">1.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">The annual report fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="width:36pt;vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">2.</p>
			</td>
			<td style="vertical-align:top;">
			<p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:left;margin-bottom:0pt;font-size:10pt;">The information contained in the annual report fairly presents, in all material respects, the financial condition and results of operations of the Company</p>
			</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.5pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width:100%;text-indent:0;font-family:'Times New Roman', Times, serif;font-size:10pt;">

		<tr>
			<td style="vertical-align:top;width:50%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Dated: March 23, 2018</font></p>
			</td>
			<td style="vertical-align:top;width:3%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
			</td>
			<td style="vertical-align:top;border-bottom:solid 1px #000000;;width:35%;">
			<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">/s/<font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;Mark W. Reynolds</font></p>
			</td>
			<td style="vertical-align:top;width:12%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">&nbsp;</td>
			<td style="vertical-align:top;width:3%;">&nbsp;</td>
			<td style="vertical-align:top;width:35%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Mark W. Reynolds</font></td>
			<td style="vertical-align:top;width:12%;">&nbsp;</td>
		</tr>
		<tr>
			<td style="vertical-align:top;width:50%;">&nbsp;</td>
			<td style="vertical-align:top;width:3%;">&nbsp;</td>
			<td style="vertical-align:top;width:35%;"><font style="font-family:'Times New Roman', Times, serif;font-size:10pt;">Chief Financial Officer</font></td>
			<td style="vertical-align:top;width:12%;">&nbsp;</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">&nbsp;</p>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>17
<FILENAME>govx-20171231.xml
<DESCRIPTION>XBRL INSTANCE DOCUMENT
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  <govx:ConvertiblePreferredStockConversionPricePerShare contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28484244" unitRef="iso4217-usd-per-xbrli-shares">0.015</govx:ConvertiblePreferredStockConversionPricePerShare>
  <govx:ConvertiblePreferredStockConversionPricePerShare contextRef="i_2018-03-05_StatementClassOfStockAxis-SeriesEConvertiblePreferredStockMember_SubsequentEventTypeAxis-SubsequentEventMember" decimals="INF" id="c28484454" unitRef="iso4217-usd-per-xbrli-shares">0.08</govx:ConvertiblePreferredStockConversionPricePerShare>
  <govx:ConvertiblePreferredStockTotalConversionShares contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28484219" unitRef="xbrli-shares">285714</govx:ConvertiblePreferredStockTotalConversionShares>
  <govx:ConvertiblePreferredStockTotalConversionShares contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28484237" unitRef="xbrli-shares">171349733</govx:ConvertiblePreferredStockTotalConversionShares>
  <govx:ConvertiblePreferredStockTotalConversionShares contextRef="i_2018-03-05_StatementClassOfStockAxis-SeriesEConvertiblePreferredStockMember_SubsequentEventTypeAxis-SubsequentEventMember" decimals="INF" id="c28484455" unitRef="xbrli-shares">7500000</govx:ConvertiblePreferredStockTotalConversionShares>
  <govx:DeferredTaxAssetsAccruedSalariesAndDirectorsFees contextRef="i_2017-12-31" decimals="INF" id="c28484408" unitRef="iso4217-usd">185961</govx:DeferredTaxAssetsAccruedSalariesAndDirectorsFees>
  <govx:DeferredTaxAssetsAccruedSalariesAndDirectorsFees contextRef="i_2016-12-31" id="c28484409" unitRef="iso4217-usd" xs:nil="true"/>
  <govx:DeferredTaxAssetsBeforeValuationAllowanceNet contextRef="i_2017-12-31" decimals="INF" id="c28484416" unitRef="iso4217-usd">19123959</govx:DeferredTaxAssetsBeforeValuationAllowanceNet>
  <govx:DeferredTaxAssetsBeforeValuationAllowanceNet contextRef="i_2016-12-31" decimals="INF" id="c28484417" unitRef="iso4217-usd">28331759</govx:DeferredTaxAssetsBeforeValuationAllowanceNet>
  <govx:DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28484397" unitRef="iso4217-usd">-10100000</govx:DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate>
  <govx:GovernmentGrantsandContractsTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827562">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;. &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Grants&lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt; and &lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Collaboration Revenue&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Government Grants and Contracts&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We receive payments from government entities under our grants and contracts with the National Institute of Allergy and Infectious Diseases in support of certain of our vaccine research and development efforts. We record revenue associated with government grants and contracts as the reimbursable costs are incurred. &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; we recorded &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$980,270,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$828,918,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$428,081,&lt;/div&gt; respectively, of revenue associated with these grants and contracts. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;there is an aggregate of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$481,695&lt;/div&gt; in remaining grant funds available for use during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Collaboration Revenue&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2017, &lt;/div&gt;we entered into a clinical trial collaboration agreement with American Gene Technologies International, Inc. (&amp;#x201c;AGT&amp;#x201d;) whereby AGT intends to conduct a phase &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; human clinical trial investigating our combined technologies as a functional cure for HIV infection. In connection with the agreement, AGT paid to us a non-refundable fee of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$95,000,&lt;/div&gt; which we recorded as collaboration revenue during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</govx:GovernmentGrantsandContractsTextBlock>
  <govx:ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost contextRef="d_2017-05-01_2017-05-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28484241" unitRef="iso4217-usd">980000</govx:ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost>
  <govx:RevenueFromCollaboration contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28484191" unitRef="iso4217-usd">95000</govx:RevenueFromCollaboration>
  <govx:ScheduleOfWarrantActivityTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-20">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Number of Shares&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Weighted Average&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Exercise Price&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 70%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Outstanding at December 31, 2016&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32,751,578&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.07&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Issued&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Exercised&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(31,639,577&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.02&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Forfeited or expired&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,112,001&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.57&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Outstanding &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;and exercisable at December 31, 2017&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</govx:ScheduleOfWarrantActivityTableTextBlock>
  <govx:StockIssuedDuringPeriodSharesWarrantsExercised contextRef="d_2017-01-01_2017-12-31_NatureOfExpenseAxis-ExpenseAssociatedWithWarrantModificationsMember" decimals="INF" id="c28485115" unitRef="xbrli-shares">31639577</govx:StockIssuedDuringPeriodSharesWarrantsExercised>
  <govx:StockIssuedDuringPeriodSharesWarrantsExercised contextRef="d_2016-01-01_2016-12-31_NatureOfExpenseAxis-ExpenseAssociatedWithWarrantModificationsMember" decimals="INF" id="c28485118" unitRef="xbrli-shares">21884420</govx:StockIssuedDuringPeriodSharesWarrantsExercised>
  <govx:StockIssuedDuringPeriodSharesWarrantsExercised contextRef="d_2018-02-01_2018-02-28_SubsequentEventTypeAxis-SubsequentEventMember" decimals="INF" id="c28484443" unitRef="xbrli-shares">5000000</govx:StockIssuedDuringPeriodSharesWarrantsExercised>
  <govx:UnusedGrantFunds contextRef="i_2017-12-31_HealthCareOrganizationRevenueSourcesAxis-NIHGrantsMember" decimals="INF" id="c28484188" unitRef="iso4217-usd">481695</govx:UnusedGrantFunds>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827560">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt; &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Accrued Expenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Accrued expenses as shown on the accompanying Consolidated Balance Sheets is composed of the following as of &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;2017&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;2016&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 68%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;"&gt;Accrued &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;management salaries&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;532,615&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201,170&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;"&gt;Accrued directors&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&amp;#x2019; fees&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182,620&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;78,070&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;"&gt;Other&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; accrued expenses&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,476&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,000&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;"&gt;Total accrued expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;733,711&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; 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  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827569">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;.&lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt; &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Stock-Based Compensation&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Stock Option Plan&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;s&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows:&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;20&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;15&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 55%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Weighted average risk-free interest rates&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.40&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.26&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.99&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Expected dividend yield&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Expected life of option (yrs)&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; &lt;/div&gt;&lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;"&gt;7.0&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Expected volatility&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;89.73&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;88.72&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.43&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Stock-based compensation expense related to &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;our stock option plans was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$57,224,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$54,805,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$67,905&lt;/div&gt; during the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively. Stock option expense is allocated to research and development expense or to general and administrative expense based on the nature of the services provided by the related individuals. For the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;stock option expense was allocated as follows:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;/div&gt;&lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;20&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;15&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 55%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;General and administrative expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,271&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,191&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45,822&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Research and development expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25,953&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23,614&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,083&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total stock option expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,224&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,805&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;67,905&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,&lt;/div&gt; there was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$218,280&lt;/div&gt; of unrecognized compensation expense related to stock-based compensation arrangements pursuant to our stock option plans. The unrecognized compensation expense is expected to be recognized over a weighted average remaining period of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6&lt;/div&gt; years.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Additional information concerning our stock options for t&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;he years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; is as follows:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;5&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 55%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Weighted average fair value of options granted&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.04&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.05&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.09&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Intrinsic value of options exercised&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total fair value of options vested&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;58,337&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,757&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;66,622&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Other &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Non-E&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;mp&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;loyee Stock-Based C&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt;ompensation&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We recorded &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;general and administrative expense of $-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0&lt;/div&gt;-, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$912,862&lt;/div&gt; and $-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0&lt;/div&gt;- during the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively, related to modifications made to certain stock purchase warrants.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28483783" unitRef="iso4217-usd-per-xbrli-shares">-0.03</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28483784" unitRef="iso4217-usd-per-xbrli-shares">-0.08</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28483785" unitRef="iso4217-usd-per-xbrli-shares">-0.08</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerSharePolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c28484053">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Net Loss Per Share&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Basic and diluted loss per common share are computed based on the weighted average numbe&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;r of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. Common share equivalents which could potentially dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, totaled approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;245.3&lt;/div&gt; million, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;93.9&lt;/div&gt; million, and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90.3&lt;/div&gt; million at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="d_2017-01-01_2017-12-31" decimals="2" id="c28484394" unitRef="xbrli-pure">0.35</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
  <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="d_2018-01-01_2018-12-31_StatementScenarioAxis-ScenarioForecastMember" decimals="2" id="c28484395" unitRef="xbrli-pure">0.21</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
  <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate contextRef="d_2018-01-01_2018-12-31" decimals="2" id="c28484396" unitRef="xbrli-pure">0.21</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="i_2017-12-31_PlanNameAxis-EquityIncentivePlan2006Member" decimals="INF" id="c28484335" unitRef="iso4217-usd">218280</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 contextRef="d_2017-01-01_2017-12-31_PlanNameAxis-EquityIncentivePlan2006Member" id="c28484336">P2Y219D</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1>
  <us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="d_2017-01-01_2017-12-31" id="c28484045">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Fair Value of Financial Instruments and Concentration of Credit Risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="d_2017-01-01_2017-12-31_NatureOfExpenseAxis-ExpenseAssociatedWithWarrantModificationsMember" decimals="INF" id="c28484339" unitRef="iso4217-usd">0</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="d_2016-01-01_2016-12-31_NatureOfExpenseAxis-ExpenseAssociatedWithWarrantModificationsMember" decimals="INF" id="c28484340" unitRef="iso4217-usd">912862</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="d_2015-01-01_2015-12-31_NatureOfExpenseAxis-ExpenseAssociatedWithWarrantModificationsMember" decimals="INF" id="c28484341" unitRef="iso4217-usd">0</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28483763" unitRef="iso4217-usd">1232368</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28483764" unitRef="iso4217-usd">2131426</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GeneralAndAdministrativeExpense contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28483765" unitRef="iso4217-usd">1429731</us-gaap:GeneralAndAdministrativeExpense>
  <us-gaap:GrantsReceivable contextRef="i_2017-12-31" decimals="INF" id="c28483682" unitRef="iso4217-usd">59758</us-gaap:GrantsReceivable>
  <us-gaap:GrantsReceivable contextRef="i_2016-12-31" decimals="INF" id="c28483683" unitRef="iso4217-usd">28074</us-gaap:GrantsReceivable>
  <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c28484049">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Impairment of Long-Lived Assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows expected t&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;o be generated by such assets. If we consider such assets to be impaired, the impairment to be&lt;div style="display: inline; font-weight: bold;"&gt; &lt;/div&gt;recognized is measured by the amount by which the carrying amount of the assets exceeds the expected future net cash flows from the assets.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827574">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;. &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Income Taxes&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;, we have a consolidated federal net operating loss (&amp;#x201c;NOL&amp;#x201d;) carryforward of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$70.9&lt;/div&gt; million, available to offset against future taxable income which expires in varying amounts in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019&lt;/div&gt; through &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2037.&lt;/div&gt; Additionally, we have approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$949,000&lt;/div&gt; in research and development (&amp;#x201c;R&amp;amp;D&amp;#x201d;) tax credits that expire in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2022&lt;/div&gt; through &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2037&lt;/div&gt; unless utilized earlier. &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No&lt;/div&gt; income taxes have been paid to date. Section &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;382&lt;/div&gt; of the Internal Revenue Code contains provisions that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;limit our utilization of our NOL and R&amp;amp;D tax credit carryforwards in any given year as a result of significant changes in ownership interests that have occurred in past periods or &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;occur in future periods.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 22, 2017, &lt;/div&gt;the Tax Cuts and Jobs Act (the &amp;#x201c;Tax Act&amp;#x201d;) was enacted into law in the United States. &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;The Tax Act makes broad changes to the U.S. tax code, including, but &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; limited to, reducing the U.S. federal corporate tax rate from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35%&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21%.&lt;/div&gt; With regard to the Tax Act impact to the Company for the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;we have recognized the impact of tax reform related to the revaluation of deferred tax assets and liabilities based on the rates we expect them to reverse in the future, which is generally &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21%.&lt;/div&gt; The amount recorded as tax expense related to the remeasurement of the deferred tax balance was approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$10.1&lt;/div&gt;&lt;/div&gt; million, which was fully offset by a reduction in the valuation allowance.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;/div&gt;&lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities included th&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;e following at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Deferred tax assets:&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 64%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Net operating loss carryforward&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,273,259&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,689,298&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Research and development tax credit carryforward&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;949,340&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;892,231&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Stock-based compensation expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,709,867&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,748,899&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Accrued salaries and directors&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&amp;#x2019; fees&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;185,961&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,532&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,331&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Total deferred tax assets&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,123,959&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Deferred tax liabilities&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net deferred tax assets&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,123,959&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Valuation allowance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,123,959&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;Net deferred tax asset after reduction for valuation allowance&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We have established a full valuation allowance equal to the amount of our net deferred tax assets due to uncertainties with respect to our ability to generate sufficient taxable income to realize these assets in the future. A reconciliation of the income tax benefit on losses at the U.S. federal statutory rate to the reported income tax expense is as follows:&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;20&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;15&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 55%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;U.S. federal statutory rate applied to pretax loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(737,855&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,112,378&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(936,936&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Permanent differences&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;436&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,012&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,914&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Research and development credits&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,109&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;59,087&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;67,901&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Impact of Tax Act&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,086,795&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Change in valuation allowance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,406,485&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,051,279&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;866,121&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Reported income tax expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
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  <us-gaap:NatureOfOperations contextRef="d_2017-01-01_2017-12-31" id="s827556">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: justify; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: justify; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Description&lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt; of Business&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;GeoVax Labs, Inc. (&amp;#x201c;GeoVax&amp;#x201d; or the &amp;#x201c;Company&amp;#x201d;), is a clinical-stage biotechnology company developing human vaccines using our novel vaccine platform. Our current development programs are focused on preventive vaccines against Human Immunodeficiency Virus (HIV), Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, Lassa), and malaria, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. We believe our technology and vaccine development expertise are well-suited for a variety of human infectious diseases and we intend to pursue further expansion of our product pipeline.&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Certain of our vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and human clinical trials.&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;take many years and often involves expenditure of substantial resources. Our goal is to build a profitable company by generating income from products we develop and commercialize, either alone or with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more potential strategic partners.&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in Smyrna, Georgia (metropolitan Atlanta area). &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:NatureOfOperations>
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ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt; changes the classification of certain equity-linked financial instruments (or embedded features) with down round features and clarifies existing disclosure requirements for equity-classified instruments. 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  <us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827573">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;. &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Retirement Plan&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We participate in a multi-employer defined contribution retirement plan (the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x201c;401k&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; Plan&amp;#x201d;) administered by a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party service provider, and the Company contributes to the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;401k&lt;/div&gt; Plan on behalf of its employees based upon a matching formula. During the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; our contributions to the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;401k&lt;/div&gt; Plan were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$29,265,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$33,871,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$40,296,&lt;/div&gt; respectively.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2017-12-31" decimals="INF" id="c28483710" unitRef="iso4217-usd-per-xbrli-shares">0.01</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2016-12-31" decimals="INF" id="c28483711" unitRef="iso4217-usd-per-xbrli-shares">0.01</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28483714" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28483715" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28483722" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28483723" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28483730" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28483731" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2014-12-31_StatementClassOfStockAxis-SeriesAConvertiblePreferredStockMember" decimals="INF" id="c28484215" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2015-02-28_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28484221" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="i_2017-05-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28484239" unitRef="iso4217-usd-per-xbrli-shares">1000</us-gaap:PreferredStockParOrStatedValuePerShare>
  <us-gaap:PreferredStockSharesAuthorized contextRef="i_2017-12-31" decimals="INF" id="c28483712" unitRef="xbrli-shares">10000000</us-gaap:PreferredStockSharesAuthorized>
  <us-gaap:PreferredStockSharesAuthorized contextRef="i_2016-12-31" decimals="INF" id="c28483713" unitRef="xbrli-shares">10000000</us-gaap:PreferredStockSharesAuthorized>
  <us-gaap:PreferredStockSharesIssued contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28483716" unitRef="xbrli-shares">100</us-gaap:PreferredStockSharesIssued>
  <us-gaap:PreferredStockSharesIssued contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28483717" unitRef="xbrli-shares">100</us-gaap:PreferredStockSharesIssued>
  <us-gaap:PreferredStockSharesIssued contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28483724" unitRef="xbrli-shares">2570</us-gaap:PreferredStockSharesIssued>
  <us-gaap:PreferredStockSharesIssued contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28483725" unitRef="xbrli-shares">2868</us-gaap:PreferredStockSharesIssued>
  <us-gaap:PreferredStockSharesIssued contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28483732" unitRef="xbrli-shares">1000</us-gaap:PreferredStockSharesIssued>
  <us-gaap:PreferredStockSharesIssued contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28483733" unitRef="xbrli-shares">0</us-gaap:PreferredStockSharesIssued>
  <us-gaap:PreferredStockSharesOutstanding contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28483718" unitRef="xbrli-shares">100</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockSharesOutstanding contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28483719" unitRef="xbrli-shares">100</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockSharesOutstanding contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28483726" unitRef="xbrli-shares">2570</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockSharesOutstanding contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28483727" unitRef="xbrli-shares">2868</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockSharesOutstanding contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28483734" unitRef="xbrli-shares">1000</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockSharesOutstanding contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28483735" unitRef="xbrli-shares">0</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827564">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;. &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Preferred Stock&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Series B Convertible Preferred Stock&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Our Series B Convertible Preferred Stock, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,000&lt;/div&gt; stated value (&amp;#x201c;Series B Preferred Stock&amp;#x201d;), has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;a liquidation preference equal to the stated value per share. The Series B Preferred Stock has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; voting rights and is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; entitled to a dividend. As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;there were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100&lt;/div&gt; shares of &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;Series B Preferred Stock outstanding, convertible at any time at the option of the holder into &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285,714&lt;/div&gt; shares of common stock.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Series C Convertible Preferred Stock&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2015, &lt;/div&gt;we issued &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,000&lt;/div&gt; shares of our Series C Convertible Preferred Stock, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,000&lt;/div&gt; stated value (&amp;#x201c;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;Series C Preferred Stock&amp;#x201d;) and warrants to purchase up to an aggregate of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51,333,331&lt;/div&gt; shares of our common stock for total net proceeds of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$2,679,810.&lt;/div&gt; We allocated &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,695,869&lt;/div&gt; of the purchase price to the fair value of the warrants issued in the transaction (recorded to Additional Paid-in Capital) and recorded the net amount of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$983,941&lt;/div&gt; as the initial carrying value of the Series C Preferred Stock.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;The&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; Series C Preferred Stock has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including a liquidation preference equal to the stated value per share. The Series C Preferred Stock has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; voting rights and is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; entitled to a dividend.&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; The Series C Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, and contains price adjustment provisions which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may, &lt;/div&gt;under certain circumstances, reduce the conversion price if we sell, or grant options to purchase, our common stock at a price lower than the then conversion price of the Series C Preferred Stock. During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;132&lt;/div&gt; shares of Series C Preferred Stock were converted into &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,400,000&lt;/div&gt; shares of common stock. During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;298&lt;/div&gt; shares of Series C Preferred Stock were converted into &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,862,000&lt;/div&gt; shares of common stock. &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2017, &lt;/div&gt;in connection with the issuance of our Series D Convertible Preferred Stock discussed below, the conversion price of our Series C Preferred Stock was automatically reduced from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$0.05&lt;/div&gt; per share to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$0.015&lt;/div&gt; per share. &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;there were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,570&lt;/div&gt; shares of &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;Series C Preferred Stock outstanding, convertible into &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;171,349,733&lt;/div&gt; shares of common stock.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;/div&gt;&lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Series D Convertible Preferred Stock&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2017, &lt;/div&gt;we issued &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,000&lt;/div&gt; shares of our Series D Convertible Preferred Stock, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,000&lt;/div&gt; stated value (&amp;#x201c;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;Series D Preferred Stock&amp;#x201d;), for gross proceeds of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1.0&lt;/div&gt; million. Net proceeds, after deduction of certain expenses, were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$980,000.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Each share of Series D Preferred Stock is entitled to a liquidation preference equal to the initial purchase price, has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; voting rights, and &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; entitled to a dividend. The Series D Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, with an initial conversion price of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$0.015&lt;/div&gt; per share. &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;The Series D Preferred Shares contains price adjustment provisions, which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may, &lt;/div&gt;under certain circumstances, reduce the conversion price on future dates according to a formula based on the then-current market price for our common stock.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We assessed the Series D Preferred Stock under ASC Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;480,&lt;/div&gt; &amp;#x201c;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Distinguishing Liabilities from Equity&lt;/div&gt;&amp;#x201d; (&amp;#x201c;ASC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;480&amp;#x201d;&lt;/div&gt;), ASC Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;815,&lt;/div&gt; &amp;#x201c;&lt;div style="display: inline; font-style: italic;"&gt;Derivatives and Hedging&lt;/div&gt;&amp;#x201d; (&amp;#x201c;ASC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;815&amp;#x201d;&lt;/div&gt;), and ASC Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;470,&lt;/div&gt; &amp;#x201c;&lt;div style="display: inline; font-style: italic;"&gt;Debt&lt;/div&gt;&amp;#x201d; (&amp;#x201c;ASC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;470&amp;#x201d;&lt;/div&gt;). The Series D Preferred Stock contains an embedded feature allowing an optional conversion by the holder into common stock which meets the definition of a derivative. However, we determined that the preferred stock is an &amp;#x201c;equity host&amp;#x201d; (as described by ASC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;815&lt;/div&gt;) for purposes of assessing the embedded derivative for potential bifurcation and that the optional conversion feature is clearly and closely associated to the preferred stock host; therefore, the embedded derivative does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; require bifurcation and separate recognition under ASC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;815.&lt;/div&gt; We determined there to be a beneficial conversion feature (&amp;#x201c;BCF&amp;#x201d;) requiring recognition at its intrinsic value. Since the conversion option of the preferred stock was immediately exercisable, the amount allocated to the BCF was immediately accreted to preferred dividends, resulting in an increase in the carrying value of the preferred stock.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:PreferredStockTextBlock>
  <us-gaap:PreferredStockValue contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28483708" unitRef="iso4217-usd">76095</us-gaap:PreferredStockValue>
  <us-gaap:PreferredStockValue contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesBConvertiblePreferredStockMember" decimals="INF" id="c28483709" unitRef="iso4217-usd">76095</us-gaap:PreferredStockValue>
  <us-gaap:PreferredStockValue contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28483720" unitRef="iso4217-usd">842990</us-gaap:PreferredStockValue>
  <us-gaap:PreferredStockValue contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28483721" unitRef="iso4217-usd">940705</us-gaap:PreferredStockValue>
  <us-gaap:PreferredStockValue contextRef="i_2017-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28483728" unitRef="iso4217-usd">980000</us-gaap:PreferredStockValue>
  <us-gaap:PreferredStockValue contextRef="i_2016-12-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" id="c28483729" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:PrepaidExpenseAndOtherAssetsCurrent contextRef="i_2017-12-31" decimals="INF" id="c28483684" unitRef="iso4217-usd">75589</us-gaap:PrepaidExpenseAndOtherAssetsCurrent>
  <us-gaap:PrepaidExpenseAndOtherAssetsCurrent contextRef="i_2016-12-31" decimals="INF" id="c28483685" unitRef="iso4217-usd">62275</us-gaap:PrepaidExpenseAndOtherAssetsCurrent>
  <us-gaap:PriorPeriodReclassificationAdjustmentDescription contextRef="d_2017-01-01_2017-12-31" id="c28484061">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Period to Period Comparisons&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be relied upon as predictive of the results for future periods.&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:PriorPeriodReclassificationAdjustmentDescription>
  <us-gaap:ProceedsFromIssuanceOfCommonStock contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28485236" unitRef="iso4217-usd">571511</us-gaap:ProceedsFromIssuanceOfCommonStock>
  <us-gaap:ProceedsFromIssuanceOfCommonStock contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28485237" unitRef="iso4217-usd">1339801</us-gaap:ProceedsFromIssuanceOfCommonStock>
  <us-gaap:ProceedsFromIssuanceOfCommonStock contextRef="d_2015-01-01_2015-12-31" id="c28485238" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock contextRef="d_2017-05-01_2017-05-31_StatementClassOfStockAxis-SeriesDConvertiblePreferredStockMember" decimals="INF" id="c28484240" unitRef="iso4217-usd">1000000</us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock>
  <us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock contextRef="d_2018-03-05_2018-03-05_StatementClassOfStockAxis-SeriesEConvertiblePreferredStockMember_SubsequentEventTypeAxis-SubsequentEventMember" decimals="INF" id="c28484453" unitRef="iso4217-usd">600000</us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock>
  <us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28485233" unitRef="iso4217-usd">980000</us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock>
  <us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock contextRef="d_2016-01-01_2016-12-31" id="c28485234" unitRef="iso4217-usd" xs:nil="true"/>
  <us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28485235" unitRef="iso4217-usd">2679810</us-gaap:ProceedsFromIssuanceOfConvertiblePreferredStock>
  <us-gaap:ProceedsFromIssuanceOfLongTermDebt contextRef="d_2018-02-28_2018-02-28_LongtermDebtTypeAxis-SeniorNotesMember_SubsequentEventTypeAxis-SubsequentEventMember" decimals="INF" id="c28484445" unitRef="iso4217-usd">50000</us-gaap:ProceedsFromIssuanceOfLongTermDebt>
  <us-gaap:ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants contextRef="d_2015-02-01_2015-02-28_StatementClassOfStockAxis-SeriesCConvertiblePreferredStockMember" decimals="INF" id="c28484223" unitRef="iso4217-usd">2679810</us-gaap:ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants>
  <us-gaap:ProceedsFromWarrantExercises contextRef="d_2017-01-01_2017-12-31_NatureOfExpenseAxis-ExpenseAssociatedWithWarrantModificationsMember" decimals="INF" id="c28485116" unitRef="iso4217-usd">571511</us-gaap:ProceedsFromWarrantExercises>
  <us-gaap:ProceedsFromWarrantExercises contextRef="d_2016-01-01_2016-12-31_NatureOfExpenseAxis-ExpenseAssociatedWithWarrantModificationsMember" decimals="INF" id="c28485119" unitRef="iso4217-usd">1339801</us-gaap:ProceedsFromWarrantExercises>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827608">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt; &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Property and Equipment&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Property and equipment&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; as shown on the accompanying Consolidated Balance Sheets is composed of the following as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 68%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Laboratory equipment&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;530,306&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;525,956&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Leasehold improvements&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;115,605&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;115,605&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Other furniture, fixtures &amp;amp; equipment&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,685&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,685&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total property and equipment&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;674,596&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;670,246&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Accumulated depreciation and amortization&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(643,445&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(615,418&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Property and equipment, net&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,151&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,828&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Depreciation and &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;leasehold amortization expense was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$28,027,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$28,780,&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$28,935&lt;/div&gt; during the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-LaboratoryEquipmentMember" decimals="INF" id="c28484786" unitRef="iso4217-usd">530306</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-LaboratoryEquipmentMember" decimals="INF" id="c28484787" unitRef="iso4217-usd">525956</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-LeaseholdImprovementsMember" decimals="INF" id="c28484788" unitRef="iso4217-usd">115605</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-LeaseholdImprovementsMember" decimals="INF" id="c28484789" unitRef="iso4217-usd">115605</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31_PropertyPlantAndEquipmentByTypeAxis-OtherFurnitureFixturesAndEquipmentMember" decimals="INF" id="c28484790" unitRef="iso4217-usd">28685</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31_PropertyPlantAndEquipmentByTypeAxis-OtherFurnitureFixturesAndEquipmentMember" decimals="INF" id="c28484791" unitRef="iso4217-usd">28685</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2017-12-31" decimals="INF" id="c28484792" unitRef="iso4217-usd">674596</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentGross contextRef="i_2016-12-31" decimals="INF" id="c28484793" unitRef="iso4217-usd">670246</us-gaap:PropertyPlantAndEquipmentGross>
  <us-gaap:PropertyPlantAndEquipmentNet contextRef="i_2017-12-31" decimals="INF" id="c28484796" unitRef="iso4217-usd">31151</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentNet contextRef="i_2016-12-31" decimals="INF" id="c28484797" unitRef="iso4217-usd">54828</us-gaap:PropertyPlantAndEquipmentNet>
  <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c28484047">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Property and Equipment&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Property and equipment are stated at cost, less accumulated&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; years. We amortize leasehold improvements using the straight-line method over the term of the related lease. &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2016, &lt;/div&gt;the &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;Financial Accounting Standards Board (FASB) issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Leases&lt;/div&gt; (ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02&lt;/div&gt;). ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02&lt;/div&gt; requires lessees to recognize the assets and liabilities on their balance sheet for the rights and obligations created by most leases and continue to recognize expenses on their income statements over the lease term. It will also require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. The guidance is effective for annual reporting periods beginning after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 15, 2018, &lt;/div&gt;and interim periods within those years. Early adoption is permitted. We do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; currently know the impact ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02&lt;/div&gt; will have on our financial statements, which will be dependent upon the nature of any lease obligations we &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;have at the time of our adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
  <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-17">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 68%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Laboratory equipment&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;530,306&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;525,956&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Leasehold improvements&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;115,605&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;115,605&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Other furniture, fixtures &amp;amp; equipment&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,685&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,685&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total property and equipment&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;674,596&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;670,246&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Accumulated depreciation and amortization&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(643,445&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(615,418&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Property and equipment, net&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,151&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,828&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="d_2017-01-01_2017-12-31_RangeAxis-MinimumMember" id="c28484050">P3Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="d_2017-01-01_2017-12-31_RangeAxis-MaximumMember" id="c28484052">P5Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28483760" unitRef="iso4217-usd">2017350</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28483761" unitRef="iso4217-usd">1970859</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28483762" unitRef="iso4217-usd">1693102</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpensePolicy contextRef="d_2017-01-01_2017-12-31" id="c28484057">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Research and Development Expense&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;(i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party service providers to perform, monitor and accumulate data related to our preclinical studies and clinical trials, (iv) costs related to sponsored research agreements, and (v) the costs to procure and manufacture materials used in clinical trials. These costs are charged to expense as incurred.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ResearchAndDevelopmentExpensePolicy>
  <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="i_2017-12-31" decimals="INF" id="c28483750" unitRef="iso4217-usd">-37916790</us-gaap:RetainedEarningsAccumulatedDeficit>
  <us-gaap:RetainedEarningsAccumulatedDeficit contextRef="i_2016-12-31" decimals="INF" id="c28483751" unitRef="iso4217-usd">-35746628</us-gaap:RetainedEarningsAccumulatedDeficit>
  <us-gaap:RevenueFromGrants contextRef="d_2017-01-01_2017-12-31_HealthCareOrganizationRevenueSourcesAxis-NIHGrantsMember" decimals="INF" id="c28484185" unitRef="iso4217-usd">980270</us-gaap:RevenueFromGrants>
  <us-gaap:RevenueFromGrants contextRef="d_2016-01-01_2016-12-31_HealthCareOrganizationRevenueSourcesAxis-NIHGrantsMember" decimals="INF" id="c28484186" unitRef="iso4217-usd">828918</us-gaap:RevenueFromGrants>
  <us-gaap:RevenueFromGrants contextRef="d_2015-01-01_2015-12-31_HealthCareOrganizationRevenueSourcesAxis-NIHGrantsMember" decimals="INF" id="c28484187" unitRef="iso4217-usd">428081</us-gaap:RevenueFromGrants>
  <us-gaap:RevenueFromGrants contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28483756" unitRef="iso4217-usd">1075270</us-gaap:RevenueFromGrants>
  <us-gaap:RevenueFromGrants contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28483757" unitRef="iso4217-usd">828918</us-gaap:RevenueFromGrants>
  <us-gaap:RevenueFromGrants contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28483758" unitRef="iso4217-usd">428081</us-gaap:RevenueFromGrants>
  <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c28484055">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Revenue Recognition&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;During the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; w&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;e recognized revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;101,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Revenue Recognition in Financial Statements, &lt;/div&gt;as amended by Staff Accounting Bulletin &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Revenue Recognition, &lt;/div&gt;(SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104&lt;/div&gt;). SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104&lt;/div&gt; provides guidance in applying GAAP to revenue recognition issues, and specifically addresses revenue recognition for upfront, nonrefundable fees received in connection with research collaboration agreements. During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; our revenue consisted primarily of grant and contract funding received from the NIH (see Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;). Revenue from these arrangements is approximately equal to the costs incurred and is recorded as income as the related costs are incurred.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2014, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09,&lt;/div&gt; &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Revenue from Contracts with Customers&lt;/div&gt; (ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt;), which creates a new Topic, Accounting Standards Codification Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;606.&lt;/div&gt; The standard is principle-based and provides a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt;-step model to determine when and how revenue is recognized. The core principle is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; is effective for the Company beginning &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2018. &lt;/div&gt;We do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; believe the adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; will have a material impact on our financial statements.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
  <us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-18">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;2017&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;2016&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 68%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;"&gt;Accrued &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;management salaries&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;532,615&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201,170&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;"&gt;Accrued directors&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&amp;#x2019; fees&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182,620&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;78,070&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;"&gt;Other&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; accrued expenses&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,476&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,000&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;"&gt;Total accrued expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;733,711&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 13%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;294,240&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock>
  <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-25">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Deferred tax assets:&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 64%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Net operating loss carryforward&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,273,259&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,689,298&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Research and development tax credit carryforward&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;949,340&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;892,231&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Stock-based compensation expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,709,867&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,748,899&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Accrued salaries and directors&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&amp;#x2019; fees&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;185,961&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Depreciation&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,532&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,331&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;"&gt;Total deferred tax assets&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,123,959&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Deferred tax liabilities&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Net deferred tax assets&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,123,959&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td colspan="1" style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;"&gt;Valuation allowance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,123,959&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;Net deferred tax asset after reduction for valuation allowance&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
  <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-26">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;20&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;15&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 55%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;U.S. federal statutory rate applied to pretax loss&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(737,855&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,112,378&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(936,936&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Permanent differences&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;436&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,012&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,914&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Research and development credits&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,109&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;59,087&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;67,901&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Impact of Tax Act&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,086,795&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Change in valuation allowance&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,406,485&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,051,279&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;866,121&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Reported income tax expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
  <us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-23">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;20&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;15&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 55%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;General and administrative expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,271&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,191&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45,822&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Research and development expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25,953&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23,614&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,083&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total stock option expense&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,224&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,805&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;67,905&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
  <us-gaap:ScheduleOfShareBasedCompensationActivityTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-19">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Number&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;of Shares&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Weighted-&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Average&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Exercise&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Price&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Weighted-&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Average&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Remaining&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Contractual&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Term (yrs)&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Aggregate&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Intrinsic&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Value&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 52%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Outstanding at December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,499,475&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.21&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Granted&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,680,000&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 36pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.05&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Exercised&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Forfeited or expired&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(155,200&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.25&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Outstanding at December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,024,275&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.29&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Exercisable at December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,951,484&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.90&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.6&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationActivityTableTextBlock>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-24">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;5&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 55%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Weighted average fair value of options granted&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.04&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.05&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.09&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Intrinsic value of options exercised&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total fair value of options vested&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;58,337&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,757&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;66,622&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-22">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;20&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;15&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 55%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Weighted average risk-free interest rates&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.40&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.26&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.99&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Expected dividend yield&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Expected life of option (yrs)&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; &lt;/div&gt;&lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;"&gt;7.0&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Expected volatility&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;89.73&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;88.72&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.43&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
  <us-gaap:ScheduleOfStockByClassTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-21">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 20%; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 81%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Stock Option Plans&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,550,300&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Series B Convertible Preferred Stock&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285,714&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Series C Convertible Preferred Stock&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;171,349,733&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Series D Convertible Preferred Stock&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;66,666,666&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;245,852,413&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfStockByClassTextBlock>
  <us-gaap:ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827578">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;GEOVAX LABS, INC.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;SCHEDULE II &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&amp;#x2013; VALUATION AND QUALIFYING ACCOUNTS&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;For t&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;he Years Ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 3&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Additions&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Description&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Balance at&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Beginning&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Of Period&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Charged to&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Costs and&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Charged to&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Other&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Accounts&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Deductions&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Balance at&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;End&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Of Period&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Reserve Deducted in the Balance Sheet&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; From the Asset to Which it Applies:&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Allowance for Deferred Tax Assets&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;"&gt;Year ended December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,207,800&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,123,959&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;"&gt;Year ended December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27,131,034&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,200,725&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;"&gt;Year ended December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;5&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,021,943&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,109,094&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27,131,034&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; 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  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="d_2017-01-01_2017-12-31" id="c28484065">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Stock-Based Compensation&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the aw&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;ard at the grant date. Compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Compensation cost for stock options or warrants is estimated at the grant date based on each instrument&amp;#x2019;s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; for additional stock-based compensation information. &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2016, &lt;/div&gt;the &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Improvements to Employee Share-Based Payment Accounting&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&amp;#x201d;&lt;/div&gt;), which amends Accounting Standards Codification Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;718,&lt;/div&gt; Compensation &amp;#x2013; Stock Compensation. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; is an attempt to simplify several aspects of the accounting for stock-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. We adopted ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; effective &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2017; &lt;/div&gt;such adoption had &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; material impact on our financial statements.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2017, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Scope of Modification&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt; Accounting&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&amp;#x201d;&lt;/div&gt;), which amends Accounting Standards Codification Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;718,&lt;/div&gt; Compensation &amp;#x2013; Stock Compensation. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; is an attempt to provide clarity and reduce both (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) diversity in practice and (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) cost and complexity when applying the guidance in Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;718&lt;/div&gt; Compensation &amp;#x2013; Stock Compensation, to a change to the terms or conditions of a share-based payment award. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; is effective for the Company beginning &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018.&lt;/div&gt; We do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; believe the adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; will have a material impact on our financial statements.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
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  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827557">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;Summary of Significant Accounting Policies&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Principles of Consolidation&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;The&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Basis of Presentation&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;The&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;twelve&lt;/div&gt;-month period following the date of these consolidated financial statements. We are devoting substantially all of our present efforts to research and development. We have funded our activities to date from government grants and clinical trial assistance, and from sales of our equity securities. We will continue to require substantial funds to continue our research and development activities. &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We believe that our existing cash resources and government funding commitments will be sufficient to continue our planned &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;operations into the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018.&lt;/div&gt; Due to our history of operating losses and our continuing need for capital to conduct our research and development activities, there is substantial doubt concerning our ability to operate as a going concern beyond that date. We are currently exploring sources of capital through additional government grants and contracts. We also intend to secure additional funds through sales of our equity securities or by other means. Management believes that we will be successful in securing the additional capital required to continue the Company&amp;#x2019;s planned operations, but that our plans do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; fully alleviate the substantial doubt about the Company&amp;#x2019;s ability to operate as a going concern. Additional funding &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be available on favorable terms or at all. If we fail to obtain additional capital when needed, we will be required to delay, scale back, or eliminate some or all of our research and development programs as well as reduce our general and administrative expenses.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;/div&gt;&lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Use of Estimates&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expense&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;s during the reporting period. Actual results &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;differ from those estimates.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Cash and Cash Equivalents&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We consider all highly liquid investments with a maturity of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months or less when purchased to be cash equivalents. Our cash and cash equivalents consist primarily of bank depos&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;its and money market accounts. The recorded values approximate fair market values due to the short maturities.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Fair Value of Financial Instruments and Concentration of Credit Risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values.&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Property and Equipment&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Property and equipment are stated at cost, less accumulated&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; years. We amortize leasehold improvements using the straight-line method over the term of the related lease. &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2016, &lt;/div&gt;the &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;Financial Accounting Standards Board (FASB) issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Leases&lt;/div&gt; (ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02&lt;/div&gt;). ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02&lt;/div&gt; requires lessees to recognize the assets and liabilities on their balance sheet for the rights and obligations created by most leases and continue to recognize expenses on their income statements over the lease term. It will also require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. The guidance is effective for annual reporting periods beginning after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 15, 2018, &lt;/div&gt;and interim periods within those years. Early adoption is permitted. We do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; currently know the impact ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02&lt;/div&gt; will have on our financial statements, which will be dependent upon the nature of any lease obligations we &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;have at the time of our adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;02.&lt;/div&gt; &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Impairment of Long-Lived Assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows expected t&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;o be generated by such assets. If we consider such assets to be impaired, the impairment to be&lt;div style="display: inline; font-weight: bold;"&gt; &lt;/div&gt;recognized is measured by the amount by which the carrying amount of the assets exceeds the expected future net cash flows from the assets.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Accrued &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Expenses&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet been billed by our &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party vendors. This process involves identifying services and activities that have been performed by such vendors on our behalf and estimating the level to which they have been performed and the associated cost incurred for such service as of each balance sheet date. &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Net Loss Per Share&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Basic and diluted loss per common share are computed based on the weighted average numbe&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;r of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. Common share equivalents which could potentially dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, totaled approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;245.3&lt;/div&gt; million, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;93.9&lt;/div&gt; million, and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90.3&lt;/div&gt; million at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively. &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;/div&gt;&lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Revenue Recognition&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;During the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; w&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;e recognized revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;101,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Revenue Recognition in Financial Statements, &lt;/div&gt;as amended by Staff Accounting Bulletin &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Revenue Recognition, &lt;/div&gt;(SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104&lt;/div&gt;). SAB &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104&lt;/div&gt; provides guidance in applying GAAP to revenue recognition issues, and specifically addresses revenue recognition for upfront, nonrefundable fees received in connection with research collaboration agreements. During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; our revenue consisted primarily of grant and contract funding received from the NIH (see Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;). Revenue from these arrangements is approximately equal to the costs incurred and is recorded as income as the related costs are incurred.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2014, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09,&lt;/div&gt; &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Revenue from Contracts with Customers&lt;/div&gt; (ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt;), which creates a new Topic, Accounting Standards Codification Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;606.&lt;/div&gt; The standard is principle-based and provides a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt;-step model to determine when and how revenue is recognized. The core principle is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; is effective for the Company beginning &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2018. &lt;/div&gt;We do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; believe the adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; will have a material impact on our financial statements.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Research and Development Expense&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;(i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt;-party service providers to perform, monitor and accumulate data related to our preclinical studies and clinical trials, (iv) costs related to sponsored research agreements, and (v) the costs to procure and manufacture materials used in clinical trials. These costs are charged to expense as incurred.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Patent Costs&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense.&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Period to Period Comparisons&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be relied upon as predictive of the results for future periods.&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Income Taxes&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities a&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;nd their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; that some portion or all of the deferred tax assets will be realized.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Stock-Based Compensation&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the aw&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;ard at the grant date. Compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Compensation cost for stock options or warrants is estimated at the grant date based on each instrument&amp;#x2019;s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; for additional stock-based compensation information. &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;/div&gt;&lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2016, &lt;/div&gt;the &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Improvements to Employee Share-Based Payment Accounting&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&amp;#x201d;&lt;/div&gt;), which amends Accounting Standards Codification Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;718,&lt;/div&gt; Compensation &amp;#x2013; Stock Compensation. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; is an attempt to simplify several aspects of the accounting for stock-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. We adopted ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; effective &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1, 2017; &lt;/div&gt;such adoption had &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; material impact on our financial statements.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 2017, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09,&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Scope of Modification&lt;/div&gt;&lt;div style="display: inline; font-style: italic;"&gt; Accounting&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&amp;#x201d;&lt;/div&gt;), which amends Accounting Standards Codification Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;718,&lt;/div&gt; Compensation &amp;#x2013; Stock Compensation. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; is an attempt to provide clarity and reduce both (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) diversity in practice and (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) cost and complexity when applying the guidance in Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;718&lt;/div&gt; Compensation &amp;#x2013; Stock Compensation, to a change to the terms or conditions of a share-based payment award. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; is effective for the Company beginning &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018.&lt;/div&gt; We do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; believe the adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;09&lt;/div&gt; will have a material impact on our financial statements.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Other &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Recent Accounting Pronouncements&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; July 2017, &lt;/div&gt;the FASB issued Accounting Standards Update &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,&lt;/div&gt; &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;(Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception&lt;/div&gt; (&amp;#x201c;ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&amp;#x201d;&lt;/div&gt;), which amends Accounting Standards Codification Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;260,&lt;/div&gt; Earnings Per Share, Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;480,&lt;/div&gt; Distinguishing Liabilities from Equity, and Topic &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;815,&lt;/div&gt; Derivatives and Hedging. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt; changes the classification of certain equity-linked financial instruments (or embedded features) with down round features and clarifies existing disclosure requirements for equity-classified instruments. ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt; is effective for the Company beginning &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019.&lt;/div&gt; We are currently evaluating the impact of the adoption of ASU &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt; on our financial statements.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Except as discussed above, t&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;here have been &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; recent accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements, nor do we believe that any recently issued, but &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet effective, accounting standards if currently adopted would have a material effect on our financial statements. &lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
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  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827610">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top;"&gt; &lt;td style="width: 36pt;"&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;.&lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt; &lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td&gt; &lt;div style=" margin: 0pt; text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Common Stock&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Increase in Authorized Shares of Common Stock&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;At a special meeting of our stockholders held on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; August 4, 2017, &lt;/div&gt;our stockholders approved an amendment to our certificate of incorporation to increase our authorized shares of common stock from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;300,000,000&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;600,000,000&lt;/div&gt; shares. The amendment to our certificate of incorporation was filed with the Delaware Secretary of State on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; August 4, 2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Common Stock Transactions&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;D&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;uring &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; we issued &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,862,000&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,400,000&lt;/div&gt; shares of our common stock, respectively, pursuant to the conversion of our Series C Preferred Stock (see Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;). &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; we issued &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,639,577&lt;/div&gt; shares of our common stock related to the exercise of stock purchase warrants, resulting in net proceeds to us of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$571,511.&lt;/div&gt; During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; we issued &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21,884,420&lt;/div&gt; shares of our common stock related to the exercise of stock purchase warrants, resulting in net proceeds of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$1,339,801.&lt;/div&gt; &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Stock Option Plans&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2006&lt;/div&gt; we adopted the GeoVax Labs, Inc. &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2006&lt;/div&gt; Equity Incentive Plan (the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x201c;2006&lt;/div&gt; Plan&amp;#x201d;) and &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; our stockholders approved the GeoVax Labs, Inc. &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; Stock Incentive Plan (the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x201c;2016&lt;/div&gt; Plan&amp;#x201d;) which provides our Board of Directors broad discretion in creating equity incentives for employees, officers, directors and consultants. We have reserved &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,550,300&lt;/div&gt; shares of our common stock for currently outstanding stock options under the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2006&lt;/div&gt; Plan, and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,000,000&lt;/div&gt; shares for outstanding stock options and future issuances under the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; Plan. The &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; Plan replaces the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2006&lt;/div&gt; Plan, which expired &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 28, 2016, &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; further grants &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be made under the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2006&lt;/div&gt; Plan. As such, the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; Plan will serve as the sole equity incentive compensation plan for the Company&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;. The exercise price for any option granted &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be less than fair value (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110%&lt;/div&gt; of fair value for ISO&amp;#x2019;s granted to certain employees). Options have a maximum &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;ten&lt;/div&gt;-year term and generally vest over &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; years. &lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;/div&gt;&lt;div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;Certain information concerning our stock opti&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;on plans as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;and a summary of activity during the year then ended is presented below:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Number&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;of Shares&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Weighted-&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Average&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Exercise&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Price&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Weighted-&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Average&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Remaining&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Contractual&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Term (yrs)&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Aggregate&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Intrinsic&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Value&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 52%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Outstanding at December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,499,475&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.21&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Granted&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,680,000&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 36pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.05&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Exercised&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Forfeited or expired&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(155,200&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.25&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Outstanding at December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,024,275&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.29&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Exercisable at December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,951,484&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.90&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.6&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Stock Purchase&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic;"&gt; Warrants&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;The following table presents a summary of stock purchase warrant &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;activity during the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Number of Shares&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Weighted Average&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Exercise Price&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 70%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Outstanding at December 31, 2016&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32,751,578&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.07&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Issued&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Exercised&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(31,639,577&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.02&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Forfeited or expired&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,112,001&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.57&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Outstanding &lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;and exercisable at December 31, 2017&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;$&lt;/td&gt; &lt;td style="width: 12%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Common Stock Reserved&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;A summary&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; of common stock reserved for future issuance as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;is as follows:&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table border="0" cellpadding="0" cellspacing="0" style="margin-right: 20%; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 81%;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Stock Option Plans&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,550,300&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Series B Convertible Preferred Stock&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285,714&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Series C Convertible Preferred Stock&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;171,349,733&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Series D Convertible Preferred Stock&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;66,666,666&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Total&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 16%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;245,852,413&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:SubsequentEventsTextBlock contextRef="d_2017-01-01_2017-12-31" id="s827577">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt;&lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Subsequent Event&lt;/div&gt;&lt;div style="display: inline; font-weight: bold;"&gt;s&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2018, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;300&lt;/div&gt; shares of Series D Preferred Stock were converted into &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,000,000&lt;/div&gt; shares of common stock.&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;During&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2018, &lt;/div&gt;we issued &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,000,000&lt;/div&gt; shares of our common stock in connection with entering into a financial advisory and investment banking agreement.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;On&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 28, 2018, &lt;/div&gt;we entered into a Senior Note Purchase Agreement with Georgia Research Alliance, Inc. (GRA) pursuant to which we issued a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt;-year Senior Promissory Note (the &amp;#x201c;Note&amp;#x201d;) in exchange for &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$50,000.&lt;/div&gt; The Note bears an annual interest rate of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5%,&lt;/div&gt; payable monthly, with principal repayments beginning in the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;second&lt;/div&gt; year. In connection with the Note, we also issued to the GRA a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt;-year warrant to purchase &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;178,571&lt;/div&gt; shares of our common stock at a purchase price of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$0.042&lt;/div&gt; per share.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March &lt;/div&gt;&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018,&lt;/div&gt; we sold shares of our Series E convertible preferred stock to certain institutional investors for an aggregate purchase price of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$600,000.&lt;/div&gt; The preferred stock is convertible at any time into shares of our common stock at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;$0.08&lt;/div&gt; per share (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,500,000&lt;/div&gt; shares in the aggregate), subject to possible adjustment as provided in the certificate of designation.&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:SummaryOfValuationAllowanceTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-27">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Additions&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom;"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Description&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Balance at&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Beginning&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Of Period&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Charged to&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Costs and&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Expenses&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Charged to&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Other&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Accounts&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Deductions&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="text-align: center; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Balance at&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;End&lt;/div&gt; &lt;div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"&gt;Of Period&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Reserve Deducted in the Balance Sheet&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt; From the Asset to Which it Applies:&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"&gt;Allowance for Deferred Tax Assets&lt;/div&gt; &lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;"&gt;Year ended December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;7&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,207,800&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;$&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,123,959&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;"&gt;Year ended December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;6&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27,131,034&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,200,725&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,331,759&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"&gt; &lt;td style="font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt; &lt;div style=" font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;"&gt;Year ended December 31, 201&lt;div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"&gt;5&lt;/div&gt;&lt;/div&gt; &lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,021,943&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,109,094&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-0-&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt;"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; text-align: right; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27,131,034&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-family: &amp;quot;Times New Roman&amp;quot;, Times, serif; font-size: 10pt; 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<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>19
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<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
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    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="us-gaap_ValuationAllowancesAndReservesTypeAxis" xlink:to="us-gaap_ValuationAllowancesAndReservesDomain-default" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementScenarioAxis" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_ScenarioUnspecifiedDomain-default" xlink:type="arc"/>
    <link:definitionArc order="0" xbrldt:closed="true" xbrldt:contextElement="segment" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementTable" xlink:type="arc"/>
    <link:definitionArc order="1" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_ValuationAllowancesAndReservesBalance" xlink:type="arc"/>
    <link:definitionArc order="2" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:type="arc"/>
    <link:definitionArc order="3" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_ValuationAllowancesAndReservesChargedToOtherAccounts" xlink:type="arc"/>
    <link:definitionArc order="4" xbrldt:closed="true" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_ValuationAllowancesAndReservesDeductions" xlink:type="arc"/>
  </link:definitionLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>21
<FILENAME>govx-20171231_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Generated by ThunderDome XBRL - 11:47PM UTC 2018-03-20--><link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple"/>
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple"/>
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:loc xlink:href="govx-20171231.xsd#govx_DocumentAndEntityInformation" xlink:label="govx_DocumentAndEntityInformation" xlink:type="locator"/>
    <link:label xlink:label="govx_DocumentAndEntityInformation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document And Entity Information</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_DocumentAndEntityInformation" xlink:to="govx_DocumentAndEntityInformation-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember" xlink:label="govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember" xlink:type="locator"/>
    <link:label xlink:label="govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Warrants Issued in Connection with Series C Preferred Stock [Member]</link:label>
    <link:label xlink:label="govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Warrants that have been issued in connection with Series C preferred stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember" xlink:to="govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_NoteToFinancialStatementDetailsTextual" xlink:label="govx_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:label xlink:label="govx_NoteToFinancialStatementDetailsTextual-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note To Financial Statement Details Textual</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_NoteToFinancialStatementDetailsTextual" xlink:to="govx_NoteToFinancialStatementDetailsTextual-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember" xlink:label="govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember" xlink:type="locator"/>
    <link:label xlink:label="govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Conversion from Series C Convertible Preferred Stock to Common Stock [Member]</link:label>
    <link:label xlink:label="govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The conversion of Series C convertible preferred stock to common stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember" xlink:to="govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-significant-accounting-policies-policies" xlink:label="govx_statement-statement-significant-accounting-policies-policies" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-significant-accounting-policies-policies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-significant-accounting-policies-policies" xlink:to="govx_statement-statement-significant-accounting-policies-policies-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-3-property-and-equipment-tables" xlink:label="govx_statement-statement-note-3-property-and-equipment-tables" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-3-property-and-equipment-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Property and Equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-3-property-and-equipment-tables" xlink:to="govx_statement-statement-note-3-property-and-equipment-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears</link:label>
    <link:label xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Two Years</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-4-accrued-expenses-tables" xlink:label="govx_statement-statement-note-4-accrued-expenses-tables" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-4-accrued-expenses-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 4 - Accrued Expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-4-accrued-expenses-tables" xlink:to="govx_statement-statement-note-4-accrued-expenses-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod" xlink:label="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod" xlink:type="locator"/>
    <link:label xlink:label="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Forfeited or expired (in shares)</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of warrants or rights forfeited or expired during period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod" xlink:to="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-8-common-stock-tables" xlink:label="govx_statement-statement-note-8-common-stock-tables" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-8-common-stock-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 8 - Common Stock</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-8-common-stock-tables" xlink:to="govx_statement-statement-note-8-common-stock-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice" xlink:label="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeited or expired, weighted average exercise price (in dollars per share)</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exercise price per share of warrants or rights forfeited or expired during period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice" xlink:to="govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ScheduleOfWarrantActivityTableTextBlock" xlink:label="govx_ScheduleOfWarrantActivityTableTextBlock" xlink:type="locator"/>
    <link:label xlink:label="govx_ScheduleOfWarrantActivityTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Warrant Activity [Table Text Block]</link:label>
    <link:label xlink:label="govx_ScheduleOfWarrantActivityTableTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of warrant activity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ScheduleOfWarrantActivityTableTextBlock" xlink:to="govx_ScheduleOfWarrantActivityTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-9-stockbased-compensation-tables" xlink:label="govx_statement-statement-note-9-stockbased-compensation-tables" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-9-stockbased-compensation-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Stock-based Compensation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-9-stockbased-compensation-tables" xlink:to="govx_statement-statement-note-9-stockbased-compensation-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-11-income-taxes-tables" xlink:label="govx_statement-statement-note-11-income-taxes-tables" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-11-income-taxes-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Income Taxes</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-11-income-taxes-tables" xlink:to="govx_statement-statement-note-11-income-taxes-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice" xlink:label="govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issued (in dollars per share)</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exercise price per share of warrants or rights issued during period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice" xlink:to="govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-tables" xlink:label="govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-tables" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule II - Valuation and Qualifying Accounts</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-tables" xlink:to="govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingExpensesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating expenses:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-3-property-and-equipment-schedule-of-property-and-equipment-details" xlink:label="govx_statement-statement-note-3-property-and-equipment-schedule-of-property-and-equipment-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-3-property-and-equipment-schedule-of-property-and-equipment-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Property and Equipment - Schedule of Property and Equipment (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-3-property-and-equipment-schedule-of-property-and-equipment-details" xlink:to="govx_statement-statement-note-3-property-and-equipment-schedule-of-property-and-equipment-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-4-accrued-expenses-schedule-of-accrued-expenses-details" xlink:label="govx_statement-statement-note-4-accrued-expenses-schedule-of-accrued-expenses-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-4-accrued-expenses-schedule-of-accrued-expenses-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 4 - Accrued Expenses - Schedule of Accrued Expenses (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-4-accrued-expenses-schedule-of-accrued-expenses-details" xlink:to="govx_statement-statement-note-4-accrued-expenses-schedule-of-accrued-expenses-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-8-common-stock-activity-of-stock-option-plan-details" xlink:label="govx_statement-statement-note-8-common-stock-activity-of-stock-option-plan-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-8-common-stock-activity-of-stock-option-plan-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 8 - Common Stock - Activity of Stock Option Plan (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-8-common-stock-activity-of-stock-option-plan-details" xlink:to="govx_statement-statement-note-8-common-stock-activity-of-stock-option-plan-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-8-common-stock-activity-of-stock-purchase-warrants-details" xlink:label="govx_statement-statement-note-8-common-stock-activity-of-stock-purchase-warrants-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-8-common-stock-activity-of-stock-purchase-warrants-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 8 - Common Stock - Activity of Stock Purchase Warrants (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-8-common-stock-activity-of-stock-purchase-warrants-details" xlink:to="govx_statement-statement-note-8-common-stock-activity-of-stock-purchase-warrants-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-8-common-stock-common-stock-reserved-for-future-issuance-details" xlink:label="govx_statement-statement-note-8-common-stock-common-stock-reserved-for-future-issuance-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-8-common-stock-common-stock-reserved-for-future-issuance-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 8 - Common Stock - Common Stock Reserved for Future Issuance (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-8-common-stock-common-stock-reserved-for-future-issuance-details" xlink:to="govx_statement-statement-note-8-common-stock-common-stock-reserved-for-future-issuance-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-9-stockbased-compensation-significant-assumption-used-in-fair-value-calculation-details" xlink:label="govx_statement-statement-note-9-stockbased-compensation-significant-assumption-used-in-fair-value-calculation-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-9-stockbased-compensation-significant-assumption-used-in-fair-value-calculation-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Stock-based Compensation - Significant Assumption Used in Fair Value Calculation (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-9-stockbased-compensation-significant-assumption-used-in-fair-value-calculation-details" xlink:to="govx_statement-statement-note-9-stockbased-compensation-significant-assumption-used-in-fair-value-calculation-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-9-stockbased-compensation-allocation-of-stock-option-expense-details" xlink:label="govx_statement-statement-note-9-stockbased-compensation-allocation-of-stock-option-expense-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-9-stockbased-compensation-allocation-of-stock-option-expense-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Stock-based Compensation - Allocation of Stock Option Expense (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-9-stockbased-compensation-allocation-of-stock-option-expense-details" xlink:to="govx_statement-statement-note-9-stockbased-compensation-allocation-of-stock-option-expense-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-9-stockbased-compensation-additional-information-for-stock-options-details" xlink:label="govx_statement-statement-note-9-stockbased-compensation-additional-information-for-stock-options-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-9-stockbased-compensation-additional-information-for-stock-options-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Stock-based Compensation - Additional Information for Stock Options (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-9-stockbased-compensation-additional-information-for-stock-options-details" xlink:to="govx_statement-statement-note-9-stockbased-compensation-additional-information-for-stock-options-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-11-income-taxes-deferred-tax-assets-and-liabilities-details" xlink:label="govx_statement-statement-note-11-income-taxes-deferred-tax-assets-and-liabilities-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-11-income-taxes-deferred-tax-assets-and-liabilities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Income Taxes - Deferred Tax Assets and Liabilities (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-11-income-taxes-deferred-tax-assets-and-liabilities-details" xlink:to="govx_statement-statement-note-11-income-taxes-deferred-tax-assets-and-liabilities-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-note-11-income-taxes-reconciliation-of-income-tax-benefit-details" xlink:label="govx_statement-statement-note-11-income-taxes-reconciliation-of-income-tax-benefit-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-note-11-income-taxes-reconciliation-of-income-tax-benefit-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Income Taxes - Reconciliation of Income Tax Benefit (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-note-11-income-taxes-reconciliation-of-income-tax-benefit-details" xlink:to="govx_statement-statement-note-11-income-taxes-reconciliation-of-income-tax-benefit-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_AccruedLiabilitiesPolicyTextBlock" xlink:label="govx_AccruedLiabilitiesPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="govx_AccruedLiabilitiesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Liabilities [Policy Text Block]</link:label>
    <link:label xlink:label="govx_AccruedLiabilitiesPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of accounting policy regarding accrued liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_AccruedLiabilitiesPolicyTextBlock" xlink:to="govx_AccruedLiabilitiesPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-details" xlink:label="govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-details" xlink:type="locator"/>
    <link:label xlink:label="govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule II - Valuation and Qualifying Accounts (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-details" xlink:to="govx_statement-statement-schedule-ii-valuation-and-qualifying-accounts-details-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_NotesToFinancialStatements" xlink:label="govx_NotesToFinancialStatements" xlink:type="locator"/>
    <link:label xlink:label="govx_NotesToFinancialStatements-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes To Financial Statements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_NotesToFinancialStatements" xlink:to="govx_NotesToFinancialStatements-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_NotesToFinancialStatementsAbstract" xlink:label="govx_NotesToFinancialStatementsAbstract" xlink:type="locator"/>
    <link:label xlink:label="govx_NotesToFinancialStatementsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes To Financial Statements [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_NotesToFinancialStatementsAbstract" xlink:to="govx_NotesToFinancialStatementsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromWarrantExercises" xlink:label="us-gaap_ProceedsFromWarrantExercises" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromWarrantExercises-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ProceedsFromWarrantExercises</link:label>
    <link:label xlink:label="us-gaap_ProceedsFromWarrantExercises-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Warrant Exercises</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromWarrantExercises" xlink:to="us-gaap_ProceedsFromWarrantExercises-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_IncentiveStockOptionsISOMember" xlink:label="govx_IncentiveStockOptionsISOMember" xlink:type="locator"/>
    <link:label xlink:label="govx_IncentiveStockOptionsISOMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incentive Stock Options (ISO's) [Member]</link:label>
    <link:label xlink:label="govx_IncentiveStockOptionsISOMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the equity incentive plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_IncentiveStockOptionsISOMember" xlink:to="govx_IncentiveStockOptionsISOMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RetainedEarningsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_EquityIncentivePlan2006Member" xlink:label="govx_EquityIncentivePlan2006Member" xlink:type="locator"/>
    <link:label xlink:label="govx_EquityIncentivePlan2006Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2006 Equity Incentive Plan [Member]</link:label>
    <link:label xlink:label="govx_EquityIncentivePlan2006Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the 2006 equity plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_EquityIncentivePlan2006Member" xlink:to="govx_EquityIncentivePlan2006Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities</link:label>
    <link:label xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total adjustments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock" xlink:label="us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net proceeds from sale of preferred stock</link:label>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Convertible Preferred Stock</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock" xlink:to="us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdditionalPaidInCapitalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:label="us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_InterimPeriodCostsNotAllocableDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interim Period, Costs Not Allocable [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterimPeriodCostsNotAllocableDomain" xlink:to="us-gaap_InterimPeriodCostsNotAllocableDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net proceeds from sale of common stock</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_SeriesCConvertiblePreferredStockMember" xlink:label="govx_SeriesCConvertiblePreferredStockMember" xlink:type="locator"/>
    <link:label xlink:label="govx_SeriesCConvertiblePreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series C Convertible Preferred Stock [Member]</link:label>
    <link:label xlink:label="govx_SeriesCConvertiblePreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents series C convertible stock as per the securities purchase agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_SeriesCConvertiblePreferredStockMember" xlink:to="govx_SeriesCConvertiblePreferredStockMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NatureOfExpenseAxis" xlink:label="us-gaap_NatureOfExpenseAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NatureOfExpenseAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nature of Expense [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfExpenseAxis" xlink:to="us-gaap_NatureOfExpenseAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EquityComponentDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockMember" xlink:label="us-gaap_CommonStockMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants" xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants</link:label>
    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants" xlink:to="us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementEquityComponentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued expenses</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount" xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount</link:label>
    <link:label xlink:label="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecorded Unconditional Purchase Obligation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount" xlink:to="us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_PreferredStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, shares outstanding (in shares)</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_CommonStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, shares outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockTextBlock" xlink:label="us-gaap_PreferredStockTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockTextBlock" xlink:to="us-gaap_PreferredStockTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_PriorPeriodReclassificationAdjustmentDescription-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:to="us-gaap_PriorPeriodReclassificationAdjustmentDescription-label" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average shares outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:to="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerShareBasicAndDiluted" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EarningsPerShareBasicAndDiluted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss per common share (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_CommitmentsDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsDisclosureTextBlock" xlink:to="us-gaap_CommitmentsDisclosureTextBlock-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_ConsolidationPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationPolicyTextBlock" xlink:to="us-gaap_ConsolidationPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SubsequentEventMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="us-gaap_SubsequentEventTypeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SubsequentEventTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EarningsPerShareBasicAndDilutedAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic and diluted:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:to="us-gaap_EarningsPerShareBasicAndDilutedAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="us-gaap_SubsequentEventTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SubsequentEventTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_SubsequentEventsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock-label" xlink:type="arc"/>
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    <link:label xlink:label="govx_RevenueFromCollaboration-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from Collaboration</link:label>
    <link:label xlink:label="govx_RevenueFromCollaboration-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue associated with collaboration agreements.</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="us-gaap_AreaOfRealEstateProperty" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AreaOfRealEstateProperty-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AreaOfRealEstateProperty</link:label>
    <link:label xlink:label="us-gaap_AreaOfRealEstateProperty-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Area of Real Estate Property</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfRealEstateProperty" xlink:to="us-gaap_AreaOfRealEstateProperty-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_ScenarioUnspecifiedDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Unspecified [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_ScenarioForecastMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Forecast [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioForecastMember" xlink:to="us-gaap_ScenarioForecastMember-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_GeneralAndAdministrativeExpenseMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralAndAdministrativeExpenseMember" xlink:to="us-gaap_GeneralAndAdministrativeExpenseMember-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_StatementScenarioAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_RevenueFromGrants-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grant and collaboration revenue</link:label>
    <link:label xlink:label="us-gaap_RevenueFromGrants-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from Grants</link:label>
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    <link:label xlink:label="us-gaap_DomesticCountryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Domestic Tax Authority [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DomesticCountryMember" xlink:to="us-gaap_DomesticCountryMember-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_IncomeTaxAuthorityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Domain]</link:label>
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    <link:label xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ProceedsFromIssuanceOfLongTermDebt</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="us-gaap_ProceedsFromIssuanceOfLongTermDebt-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxAuthorityAxis" xlink:label="us-gaap_IncomeTaxAuthorityAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxAuthorityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Authority [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityAxis" xlink:to="us-gaap_IncomeTaxAuthorityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_LaboratoryEquipmentMember" xlink:label="govx_LaboratoryEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="govx_LaboratoryEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Laboratory Equipment [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_LaboratoryEquipmentMember" xlink:to="govx_LaboratoryEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_OtherFurnitureFixturesAndEquipmentMember" xlink:label="govx_OtherFurnitureFixturesAndEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="govx_OtherFurnitureFixturesAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Furniture Fixtures And Equipment [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_OtherFurnitureFixturesAndEquipmentMember" xlink:to="govx_OtherFurnitureFixturesAndEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_GovernmentGrantsandContractsTextBlock" xlink:label="govx_GovernmentGrantsandContractsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="govx_GovernmentGrantsandContractsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Government Grants and Contracts [Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_GovernmentGrantsandContractsTextBlock" xlink:to="govx_GovernmentGrantsandContractsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_NIHGrantsMember" xlink:label="govx_NIHGrantsMember" xlink:type="locator"/>
    <link:label xlink:label="govx_NIHGrantsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NIH Grants [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_NIHGrantsMember" xlink:to="govx_NIHGrantsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="us-gaap_IncomeStatementLocationDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeStatementLocationDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationDomain" xlink:to="us-gaap_IncomeStatementLocationDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="us-gaap_IncomeStatementLocationAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeStatementLocationAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationAxis" xlink:to="us-gaap_IncomeStatementLocationAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ConvertiblePreferredStockConversionPricePerShare" xlink:label="govx_ConvertiblePreferredStockConversionPricePerShare" xlink:type="locator"/>
    <link:label xlink:label="govx_ConvertiblePreferredStockConversionPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_ConvertiblePreferredStockConversionPricePerShare</link:label>
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    <link:label xlink:label="govx_ConvertiblePreferredStockConversionPricePerShare-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The conversion price per share of convertible preferred stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ConvertiblePreferredStockConversionPricePerShare" xlink:to="govx_ConvertiblePreferredStockConversionPricePerShare-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_ConversionOfStockSharesIssued1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Conversion of stock, shares issued (in shares)</link:label>
    <link:label xlink:label="us-gaap_ConversionOfStockSharesIssued1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion of Stock, Shares Issued</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesIssued1" xlink:to="us-gaap_ConversionOfStockSharesIssued1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ResearchAndDevelopmentExpenseMember" xlink:label="us-gaap_ResearchAndDevelopmentExpenseMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ResearchAndDevelopmentExpenseMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research and Development Expense [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpenseMember" xlink:to="us-gaap_ResearchAndDevelopmentExpenseMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MaximumMember" xlink:label="us-gaap_MaximumMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_MaximumMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaximumMember" xlink:to="us-gaap_MaximumMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_BasisOfAccountingPolicyPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="us-gaap_BasisOfAccountingPolicyPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeMember" xlink:label="us-gaap_RangeMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RangeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherIncomeAndExpensesAbstract" xlink:label="us-gaap_OtherIncomeAndExpensesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherIncomeAndExpensesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other income:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherIncomeAndExpensesAbstract" xlink:to="us-gaap_OtherIncomeAndExpensesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConversionOfStockSharesConverted1" xlink:label="us-gaap_ConversionOfStockSharesConverted1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConversionOfStockSharesConverted1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible preferred stock (in shares)</link:label>
    <link:label xlink:label="us-gaap_ConversionOfStockSharesConverted1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion of Stock, Shares Converted</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockSharesConverted1" xlink:to="us-gaap_ConversionOfStockSharesConverted1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinimumMember" xlink:label="us-gaap_MinimumMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_MinimumMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MinimumMember" xlink:to="us-gaap_MinimumMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeAxis" xlink:label="us-gaap_RangeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RangeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeAxis" xlink:to="us-gaap_RangeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConversionOfStockNameDomain" xlink:label="us-gaap_ConversionOfStockNameDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConversionOfStockNameDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Conversion of Stock, Name [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockNameDomain" xlink:to="us-gaap_ConversionOfStockNameDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConversionOfStockByUniqueDescriptionAxis" xlink:label="us-gaap_ConversionOfStockByUniqueDescriptionAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ConversionOfStockByUniqueDescriptionAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Conversion Description [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConversionOfStockByUniqueDescriptionAxis" xlink:to="us-gaap_ConversionOfStockByUniqueDescriptionAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountingPoliciesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfFinancialPositionAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</link:label>
    <link:label xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses and other current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueOther" xlink:label="us-gaap_StockIssuedDuringPeriodValueOther" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodValueOther-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of convertible preferred stock for cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueOther" xlink:to="us-gaap_StockIssuedDuringPeriodValueOther-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesOther" xlink:label="us-gaap_StockIssuedDuringPeriodSharesOther" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockIssuedDuringPeriodSharesOther-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale of convertible preferred stock for cash (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesOther" xlink:to="us-gaap_StockIssuedDuringPeriodSharesOther-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharesIssued" xlink:label="us-gaap_SharesIssued" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharesIssued</link:label>
    <link:label xlink:label="us-gaap_SharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31, 2014 (in shares)</link:label>
    <link:label xlink:label="us-gaap_SharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31, 2015 (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementOfCashFlowsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract-label" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_ResearchMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Research Tax Credit Carryforward [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchMember" xlink:to="us-gaap_ResearchMember-label" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross-label" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxCreditCarryforwardAxis" xlink:to="us-gaap_TaxCreditCarryforwardAxis-label" xlink:type="arc"/>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PolicyTextBlockAbstract" xlink:label="us-gaap_PolicyTextBlockAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PolicyTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PolicyTextBlockAbstract</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PolicyTextBlockAbstract" xlink:to="us-gaap_PolicyTextBlockAbstract-label" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_DeferredIncomeTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredIncomeTaxLiabilities</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxLiabilities" xlink:to="us-gaap_DeferredIncomeTaxLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:label="us-gaap_DeferredTaxAssetsGross" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxAssetsGross</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsGross-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total deferred tax assets</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxAssetsLiabilitiesNet</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNet-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax asset after reduction for valuation allowance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:to="us-gaap_DeferredTaxAssetsLiabilitiesNet-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeStatementAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ClassOfStockDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StatementClassOfStockAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AwardTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment" xlink:label="us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment" xlink:to="us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="locator"/>
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    <link:loc xlink:href="govx-20171231.xsd#govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate" xlink:label="govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate" xlink:type="locator"/>
    <link:label xlink:label="govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate</link:label>
    <link:label xlink:label="govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets from Remeasurement due to Changes in Enacted Tax Rate</link:label>
    <link:label xlink:label="govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets as a result of remeasurement due to the change in the enacted tax rate.</link:label>
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    <link:loc xlink:href="govx-20171231.xsd#govx_AccruedDirectorsFeesCurrent" xlink:label="govx_AccruedDirectorsFeesCurrent" xlink:type="locator"/>
    <link:label xlink:label="govx_AccruedDirectorsFeesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued directors&#8217; fees</link:label>
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    <link:label xlink:label="govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRateMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets from Remeasurement due to Changes in Enacted Tax Rate [Member]</link:label>
    <link:label xlink:label="govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRateMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets resulting from remeasurement due to changes in the enacted tax rate.</link:label>
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    <link:loc xlink:href="govx-20171231.xsd#govx_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost" xlink:label="govx_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost" xlink:type="locator"/>
    <link:label xlink:label="govx_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost</link:label>
    <link:label xlink:label="govx_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds From Issuance Of Convertible Preferred Stock, Net of Issuance Cost</link:label>
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    <link:loc xlink:href="govx-20171231.xsd#govx_DeferredTaxAssetsBeforeValuationAllowanceNet" xlink:label="govx_DeferredTaxAssetsBeforeValuationAllowanceNet" xlink:type="locator"/>
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    <link:label xlink:label="govx_DeferredTaxAssetsBeforeValuationAllowanceNet-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax assets</link:label>
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    <link:loc xlink:href="govx-20171231.xsd#govx_EquityIncentivePlan2016Member" xlink:label="govx_EquityIncentivePlan2016Member" xlink:type="locator"/>
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    <link:label xlink:label="govx_EquityIncentivePlan2016Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the Equity Incentive Plan 2016.</link:label>
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    <link:loc xlink:href="govx-20171231.xsd#govx_ClassOfWarrantOrRightTerm" xlink:label="govx_ClassOfWarrantOrRightTerm" xlink:type="locator"/>
    <link:label xlink:label="govx_ClassOfWarrantOrRightTerm-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_ClassOfWarrantOrRightTerm</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightTerm-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Warrant or Right, Term</link:label>
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    <link:label xlink:label="govx_WarrantsInConnectionWithSeniorPromissoryNoteMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Warrants in Connection with Senior Promissory Note [Member]</link:label>
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    <link:label xlink:label="us-gaap_ValuationAllowancesAndReservesBalance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ValuationAllowancesAndReservesBalance</link:label>
    <link:label xlink:label="us-gaap_ValuationAllowancesAndReservesBalance-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at Beginning Of Period</link:label>
    <link:label xlink:label="us-gaap_ValuationAllowancesAndReservesBalance-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at End Of Period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesBalance" xlink:to="us-gaap_ValuationAllowancesAndReservesBalance-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_FairValueOfFinancialInstrumentsPolicy-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value of Financial Instruments, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="us-gaap_FairValueOfFinancialInstrumentsPolicy-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ValuationAllowancesAndReservesChargedToOtherAccounts" xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToOtherAccounts" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToOtherAccounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ValuationAllowancesAndReservesChargedToOtherAccounts</link:label>
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    <link:label xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid expenses and other current assets</link:label>
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    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisclosureTextBlockAbstract" xlink:label="us-gaap_DisclosureTextBlockAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DisclosureTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DisclosureTextBlockAbstract</link:label>
    <link:label xlink:label="us-gaap_DisclosureTextBlockAbstract-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes to Financial Statements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureTextBlockAbstract" xlink:to="us-gaap_DisclosureTextBlockAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:label="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in valuation allowance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:to="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LiabilitiesCurrent</link:label>
    <link:label xlink:label="us-gaap_LiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost</link:label>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost" xlink:to="us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_NonoperatingIncomeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NonoperatingIncomeExpense</link:label>
    <link:label xlink:label="us-gaap_NonoperatingIncomeExpense-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_ValuationAllowancesAndReservesDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Allowances and Reserves [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesDomain" xlink:to="us-gaap_ValuationAllowancesAndReservesDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EarningsPerSharePolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ValuationAllowancesAndReservesTypeAxis" xlink:label="us-gaap_ValuationAllowancesAndReservesTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ValuationAllowancesAndReservesTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Allowances and Reserves Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesTypeAxis" xlink:to="us-gaap_ValuationAllowancesAndReservesTypeAxis-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_ValuationAllowanceOfDeferredTaxAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Allowance of Deferred Tax Assets [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowanceOfDeferredTaxAssetsMember" xlink:to="us-gaap_ValuationAllowanceOfDeferredTaxAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:type="locator"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingExpenses</link:label>
    <link:label xlink:label="us-gaap_OperatingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total operating expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses-label" xlink:type="arc"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock" xlink:to="us-gaap_ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_IncomeTaxPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_GeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and administrative</link:label>
    <link:label xlink:label="us-gaap_GeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General and Administrative Expense</link:label>
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    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected dividend yield</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_HealthCareOrganizationRevenueSourcesDomain" xlink:label="us-gaap_HealthCareOrganizationRevenueSourcesDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_HealthCareOrganizationRevenueSourcesDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Health Care Organization, Revenue Sources [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HealthCareOrganizationRevenueSourcesDomain" xlink:to="us-gaap_HealthCareOrganizationRevenueSourcesDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="us-gaap_LeaseAndRentalExpense" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LeaseAndRentalExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_LeaseAndRentalExpense</link:label>
    <link:label xlink:label="us-gaap_LeaseAndRentalExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Leases, Rent Expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAndRentalExpense" xlink:to="us-gaap_LeaseAndRentalExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average risk-free interest rates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredTaxAssetsGrossAbstract" xlink:label="us-gaap_DeferredTaxAssetsGrossAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DeferredTaxAssetsGrossAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsGrossAbstract" xlink:to="us-gaap_DeferredTaxAssetsGrossAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected volatility</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OperatingIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_OperatingIncomeLoss</link:label>
    <link:label xlink:label="us-gaap_OperatingIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Loss from operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_HealthCareOrganizationRevenueSourcesAxis" xlink:label="us-gaap_HealthCareOrganizationRevenueSourcesAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_HealthCareOrganizationRevenueSourcesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Health Care Organization, Revenue Sources [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HealthCareOrganizationRevenueSourcesAxis" xlink:to="us-gaap_HealthCareOrganizationRevenueSourcesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected life of option (yrs) (Year)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <link:label xlink:label="dei_AmendmentFlag-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxCreditsResearch" xlink:label="us-gaap_IncomeTaxReconciliationTaxCreditsResearch" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationTaxCreditsResearch-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_IncomeTaxReconciliationTaxCreditsResearch</link:label>
    <link:label xlink:label="us-gaap_IncomeTaxReconciliationTaxCreditsResearch-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Research and development credits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxCreditsResearch" xlink:to="us-gaap_IncomeTaxReconciliationTaxCreditsResearch-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, $.001 par value: Authorized shares &#8211; 600,000,000 and 300,000,000 at September 30, 2017 and December 31, 2016, respectively Issued and outstanding shares &#8211; 70,913,900 and 55,235,233 at December 31, 2017 and 2016, respectively</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:type="locator"/>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockSharesAuthorized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label xlink:label="us-gaap_CommonStockSharesAuthorized-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockSharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockParOrStatedValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common stock, par value (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IncomeTaxDisclosureTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GrantsReceivable" xlink:label="us-gaap_GrantsReceivable" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_GrantsReceivable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grant funds receivable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GrantsReceivable" xlink:to="us-gaap_GrantsReceivable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensation</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-based compensation expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Reserved for Future Issuance (in shares)</link:label>
    <link:label xlink:label="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock, Capital Shares Reserved for Future Issuance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance" xlink:to="us-gaap_CommonStockCapitalSharesReservedForFutureIssuance-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_CurrentFiscalYearEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_SeriesDConvertiblePreferredStockMember" xlink:label="govx_SeriesDConvertiblePreferredStockMember" xlink:type="locator"/>
    <link:label xlink:label="govx_SeriesDConvertiblePreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series D Convertible Preferred Stock [Member]</link:label>
    <link:label xlink:label="govx_SeriesDConvertiblePreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to Series D Convertible Preferred Stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_SeriesDConvertiblePreferredStockMember" xlink:to="govx_SeriesDConvertiblePreferredStockMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalPeriodFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalYearFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_SeriesAConvertiblePreferredStockMember" xlink:label="govx_SeriesAConvertiblePreferredStockMember" xlink:type="locator"/>
    <link:label xlink:label="govx_SeriesAConvertiblePreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A Convertible Preferred Stock [Member]</link:label>
    <link:label xlink:label="govx_SeriesAConvertiblePreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to Series A Convertible Preferred Stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_SeriesAConvertiblePreferredStockMember" xlink:to="govx_SeriesAConvertiblePreferredStockMember-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</link:label>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercisable at March 31, 2016, weighted average exercise price, options</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</link:label>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercisable at March 31, 2016, weighted average exercise price, options (Year)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentPeriodEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ConvertiblePreferredStockTotalConversionShares" xlink:label="govx_ConvertiblePreferredStockTotalConversionShares" xlink:type="locator"/>
    <link:label xlink:label="govx_ConvertiblePreferredStockTotalConversionShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_ConvertiblePreferredStockTotalConversionShares</link:label>
    <link:label xlink:label="govx_ConvertiblePreferredStockTotalConversionShares-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Convertible Preferred Stock, Total Conversion Shares</link:label>
    <link:label xlink:label="govx_ConvertiblePreferredStockTotalConversionShares-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total conversion shares of convertible preferred stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ConvertiblePreferredStockTotalConversionShares" xlink:to="govx_ConvertiblePreferredStockTotalConversionShares-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Preferred Stock</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total fair value of options vested</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockSharesIssued-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ClassOfWarrantOrRightIssuedDuringPeriod" xlink:label="govx_ClassOfWarrantOrRightIssuedDuringPeriod" xlink:type="locator"/>
    <link:label xlink:label="govx_ClassOfWarrantOrRightIssuedDuringPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued (in shares)</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightIssuedDuringPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of Shares</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ClassOfWarrantOrRightIssuedDuringPeriod" xlink:to="govx_ClassOfWarrantOrRightIssuedDuringPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intrinsic value of options exercised</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercisable at March 31, 2016, weighted average exercise price, options (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentType-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercisable, options (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding, weighted average exercise price, options</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding, weighted average exercise price, options (Year)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="us-gaap_DepreciationDepletionAndAmortization" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DepreciationDepletionAndAmortization-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationDepletionAndAmortization" xlink:to="us-gaap_DepreciationDepletionAndAmortization-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockSharesAuthorized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average fair value of options granted (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccountsPayableCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts payable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationTable-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred stock, par value (in dollars per share)</link:label>
    <link:label xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred Stock, Par or Stated Value Per Share</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccruedLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued expenses (Note 4)</link:label>
    <link:label xlink:label="us-gaap_AccruedLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total accrued expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AssetsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_AssetsCurrent</link:label>
    <link:label xlink:label="us-gaap_AssetsCurrent-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityPublicFloat-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Public Float</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LongtermDebtTypeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityFilerCategory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCurrentReportingStatus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityVoluntaryFilers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="us-gaap_LongtermDebtTypeDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LongtermDebtTypeDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeDomain" xlink:to="us-gaap_LongtermDebtTypeDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityWellKnownSeasonedIssuer-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Outstanding, weighted average exercise price, options (in dollars per share)</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Outstanding, weighted average exercise price, options (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_UnusedGrantFunds" xlink:label="govx_UnusedGrantFunds" xlink:type="locator"/>
    <link:label xlink:label="govx_UnusedGrantFunds-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_UnusedGrantFunds</link:label>
    <link:label xlink:label="govx_UnusedGrantFunds-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unused Grant Funds</link:label>
    <link:label xlink:label="govx_UnusedGrantFunds-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of grant funds available for use.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_UnusedGrantFunds" xlink:to="govx_UnusedGrantFunds-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccruedSalariesCurrent" xlink:label="us-gaap_AccruedSalariesCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AccruedSalariesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued management salaries</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedSalariesCurrent" xlink:to="us-gaap_AccruedSalariesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeited or expired, weighted average exercise price, options (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted, weighted average exercise price, options (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DepreciationAndAmortization-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DepreciationAndAmortization</link:label>
    <link:label xlink:label="us-gaap_DepreciationAndAmortization-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other accrued expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net loss to net cash used in operating activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCentralIndexKey-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityRegistrantName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice" xlink:label="govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice" xlink:type="locator"/>
    <link:label xlink:label="govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercised, weighted average exercise price (in dollars per share)</link:label>
    <link:label xlink:label="govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exercise price per share of warrants or rights exchanged during period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice" xlink:to="govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:label xlink:label="dei_LegalEntityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfWarrantOrRightDomain" xlink:label="us-gaap_ClassOfWarrantOrRightDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Warrant or Right [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightDomain" xlink:to="us-gaap_ClassOfWarrantOrRightDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Outstanding, options (in shares)</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Outstanding, options (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfStockByClassTextBlock" xlink:label="us-gaap_ScheduleOfStockByClassTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ScheduleOfStockByClassTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Stock by Class [Table Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfStockByClassTextBlock" xlink:to="us-gaap_ScheduleOfStockByClassTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Forfeited or expired, options (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfWarrantOrRightOutstanding" xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ClassOfWarrantOrRightOutstanding</link:label>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Outstanding, shares (in shares)</link:label>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Outstanding, shares (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightOutstanding" xlink:to="us-gaap_ClassOfWarrantOrRightOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfWarrantOrRightAxis" xlink:label="us-gaap_ClassOfWarrantOrRightAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Warrant or Right [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightAxis" xlink:to="us-gaap_ClassOfWarrantOrRightAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1</link:label>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Warrant or Right, Exercise Price of Warrants or Rights</link:label>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Outstanding, weighted average exercise price (in dollars per share)</link:label>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Outstanding and exercisable at December 31, 2016 (in dollars per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1" xlink:to="us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</link:label>
    <link:label xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_LiabilitiesCurrentAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCommonStockSharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:label="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount</link:label>
    <link:label xlink:label="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Defined Contribution Plan, Employer Discretionary Contribution Amount</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount" xlink:to="us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_SeriesBConvertiblePreferredStockMember" xlink:label="govx_SeriesBConvertiblePreferredStockMember" xlink:type="locator"/>
    <link:label xlink:label="govx_SeriesBConvertiblePreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series B Convertible Preferred Stock [Member]</link:label>
    <link:label xlink:label="govx_SeriesBConvertiblePreferredStockMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information pertaining to Series B Convertible Preferred Stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_SeriesBConvertiblePreferredStockMember" xlink:to="govx_SeriesBConvertiblePreferredStockMember-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_DepositsAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deposits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositsAssets" xlink:to="us-gaap_DepositsAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_Assets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_Assets</link:label>
    <link:label xlink:label="us-gaap_Assets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent</link:label>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_StockIssuedDuringPeriodSharesWarrantsExercised" xlink:label="govx_StockIssuedDuringPeriodSharesWarrantsExercised" xlink:type="locator"/>
    <link:label xlink:label="govx_StockIssuedDuringPeriodSharesWarrantsExercised-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">govx_StockIssuedDuringPeriodSharesWarrantsExercised</link:label>
    <link:label xlink:label="govx_StockIssuedDuringPeriodSharesWarrantsExercised-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Warrants Exercised</link:label>
    <link:label xlink:label="govx_StockIssuedDuringPeriodSharesWarrantsExercised-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of new shares of common stock issued during the period upon exercise of warrants.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_StockIssuedDuringPeriodSharesWarrantsExercised" xlink:to="govx_StockIssuedDuringPeriodSharesWarrantsExercised-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockholdersEquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders&#8217; equity (deficiency):</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="govx-20171231.xsd#govx_ExpenseAssociatedWithWarrantModificationsMember" xlink:label="govx_ExpenseAssociatedWithWarrantModificationsMember" xlink:type="locator"/>
    <link:label xlink:label="govx_ExpenseAssociatedWithWarrantModificationsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense Associated with Warrant Modifications [Member]</link:label>
    <link:label xlink:label="govx_ExpenseAssociatedWithWarrantModificationsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents expense associated with warrant modifications.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="govx_ExpenseAssociatedWithWarrantModificationsMember" xlink:to="govx_ExpenseAssociatedWithWarrantModificationsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod</link:label>
    <link:label xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <link:label xlink:label="dei_TradingSymbol-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</link:label>
    <link:label xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchase of property and equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</link:label>
    <link:label xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="us-gaap_SeniorNotesMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_SeniorNotesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeniorNotesMember" xlink:to="us-gaap_SeniorNotesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net loss</link:label>
    <link:label xlink:label="us-gaap_NetIncomeLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_StockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total stockholders&#8217; equity (deficiency)</link:label>
    <link:label xlink:label="us-gaap_StockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31, 2014</link:label>
    <link:label xlink:label="us-gaap_StockholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at December 31, 2015</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_IntangibleAssetsFiniteLivedPolicy-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets, Finite-Lived, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsFiniteLivedPolicy" xlink:to="us-gaap_IntangibleAssetsFiniteLivedPolicy-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="us-gaap_PlanNameAxis" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PlanNameAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameAxis" xlink:to="us-gaap_PlanNameAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:label="us-gaap_DebtInstrumentTerm" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_DebtInstrumentTerm-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_DebtInstrumentTerm</link:label>
    <link:label xlink:label="us-gaap_DebtInstrumentTerm-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Term</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTerm" xlink:to="us-gaap_DebtInstrumentTerm-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PlanNameDomain" xlink:label="us-gaap_PlanNameDomain" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_PlanNameDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan Name [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameDomain" xlink:to="us-gaap_PlanNameDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</link:label>
    <link:label xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_CommitmentsAndContingencies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments (Note 6)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</link:label>
    <link:label xlink:label="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:to="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WarrantMember" xlink:label="us-gaap_WarrantMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_WarrantMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Warrant [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantMember" xlink:to="us-gaap_WarrantMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="us-gaap_EmployeeStockOptionMember" xlink:type="locator"/>
    <link:label xlink:label="us-gaap_EmployeeStockOptionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Stock Option [Member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeStockOptionMember" xlink:to="us-gaap_EmployeeStockOptionMember-label" xlink:type="arc"/>
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    <link:label xlink:label="us-gaap_StatementLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
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    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_PropertyPlantAndEquipmentUsefulLife</link:label>
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    <link:label xlink:label="us-gaap_AssetsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ASSETS</link:label>
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    <link:label xlink:label="us-gaap_PropertyPlantAndEquipmentGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property and equipment, gross</link:label>
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    <link:label xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">us-gaap_NetCashProvidedByUsedInFinancingActivities</link:label>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>22
<FILENAME>govx-20171231_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
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<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6816424496">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information - USD ($)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Mar. 22, 2018</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">GeoVax Labs, Inc.<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000832489<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">govx<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Smaller Reporting Company<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">No<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding (in shares)</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">131,736,810<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityPublicFloat', window );">Entity Public Float</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,456,108<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-K<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="text">false<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityPublicFloat</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6820664160">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 312,727<span></span>
</td>
<td class="nump">$ 454,030<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrantsReceivable', window );">Grant funds receivable</a></td>
<td class="nump">59,758<span></span>
</td>
<td class="nump">28,074<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
<td class="nump">75,589<span></span>
</td>
<td class="nump">62,275<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">448,074<span></span>
</td>
<td class="nump">544,379<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="nump">31,151<span></span>
</td>
<td class="nump">54,828<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepositsAssets', window );">Deposits</a></td>
<td class="nump">11,010<span></span>
</td>
<td class="nump">11,010<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">490,235<span></span>
</td>
<td class="nump">610,217<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">77,581<span></span>
</td>
<td class="nump">75,607<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued expenses (Note 4)</a></td>
<td class="nump">733,711<span></span>
</td>
<td class="nump">294,240<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">811,292<span></span>
</td>
<td class="nump">369,847<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments (Note 6)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders&#8217; equity (deficiency):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $.001 par value: Authorized shares &#8211; 600,000,000 and 300,000,000 at September 30, 2017 and December 31, 2016, respectively Issued and outstanding shares &#8211; 70,913,900 and 55,235,233 at December 31, 2017 and 2016, respectively</a></td>
<td class="nump">106,737<span></span>
</td>
<td class="nump">55,235<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">35,589,911<span></span>
</td>
<td class="nump">34,914,963<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(37,916,790)<span></span>
</td>
<td class="num">(35,746,628)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders&#8217; equity (deficiency)</a></td>
<td class="num">(321,057)<span></span>
</td>
<td class="nump">240,370<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and stockholders&#8217; equity</a></td>
<td class="nump">490,235<span></span>
</td>
<td class="nump">610,217<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesBConvertiblePreferredStockMember', window );">Series B Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders&#8217; equity (deficiency):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Convertible Preferred Stock</a></td>
<td class="nump">76,095<span></span>
</td>
<td class="nump">76,095<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember', window );">Series C Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders&#8217; equity (deficiency):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Convertible Preferred Stock</a></td>
<td class="nump">842,990<span></span>
</td>
<td class="nump">940,705<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember', window );">Series D Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders&#8217; equity (deficiency):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Convertible Preferred Stock</a></td>
<td class="nump">$ 980,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82911808&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepositsAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepositsAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrantsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of amounts due under the terms of governmental, corporate, or foundation grants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrantsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(7))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesBConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6816724992">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (Parentheticals) - $ / shares<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized (in shares)</a></td>
<td class="nump">10,000,000<span></span>
</td>
<td class="nump">10,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="nump">$ 0.001<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued (in shares)</a></td>
<td class="nump">106,736,810<span></span>
</td>
<td class="nump">55,235,233<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding (in shares)</a></td>
<td class="nump">106,736,810<span></span>
</td>
<td class="nump">55,235,233<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized (in shares)</a></td>
<td class="nump">600,000,000<span></span>
</td>
<td class="nump">300,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesBConvertiblePreferredStockMember', window );">Series B Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued (in shares)</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding (in shares)</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">100<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember', window );">Series C Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued (in shares)</a></td>
<td class="nump">2,570<span></span>
</td>
<td class="nump">2,868<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding (in shares)</a></td>
<td class="nump">2,570<span></span>
</td>
<td class="nump">2,868<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember', window );">Series D Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock, par value (in dollars per share)</a></td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued (in shares)</a></td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding (in shares)</a></td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesBConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesBConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6809551824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Operations - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromGrants', window );">Grant and collaboration revenue</a></td>
<td class="nump">$ 1,075,270<span></span>
</td>
<td class="nump">$ 828,918<span></span>
</td>
<td class="nump">$ 428,081<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Operating expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development</a></td>
<td class="nump">2,017,350<span></span>
</td>
<td class="nump">1,970,859<span></span>
</td>
<td class="nump">1,693,102<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
<td class="nump">1,232,368<span></span>
</td>
<td class="nump">2,131,426<span></span>
</td>
<td class="nump">1,429,731<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
<td class="nump">3,249,718<span></span>
</td>
<td class="nump">4,102,285<span></span>
</td>
<td class="nump">3,122,833<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
<td class="num">(2,174,448)<span></span>
</td>
<td class="num">(3,273,367)<span></span>
</td>
<td class="num">(2,694,752)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherIncomeAndExpensesAbstract', window );"><strong>Other income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="nump">4,286<span></span>
</td>
<td class="nump">1,666<span></span>
</td>
<td class="nump">5,465<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Total other income</a></td>
<td class="nump">4,286<span></span>
</td>
<td class="nump">1,666<span></span>
</td>
<td class="nump">5,465<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (2,170,162)<span></span>
</td>
<td class="num">$ (3,271,701)<span></span>
</td>
<td class="num">$ (2,689,287)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDilutedAbstract', window );"><strong>Basic and diluted:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Loss per common share (in dollars per share)</a></td>
<td class="num">$ (0.03)<span></span>
</td>
<td class="num">$ (0.08)<span></span>
</td>
<td class="num">$ (0.08)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Weighted average shares outstanding (in shares)</a></td>
<td class="nump">68,605,817<span></span>
</td>
<td class="nump">41,516,514<span></span>
</td>
<td class="nump">31,950,813<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherIncomeAndExpensesAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 730<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 985<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ResearchAndDevelopmentExpense</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue earned during the period from non-repayable sum of money awarded to an entity to carry out a specific purpose as provided in grant agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822670048">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Stockholders' Equity - USD ($)<br></strong></div></th>
<th class="th"><div>Series B Convertible Preferred Stock [Member]</div></th>
<th class="th"><div>Series C Convertible Preferred Stock [Member]</div></th>
<th class="th"><div>Series D Convertible Preferred Stock [Member]</div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Additional Paid-in Capital [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance at December 31, 2014 (in shares) at Dec. 31, 2014</a></td>
<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,950,813<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at December 31, 2014 at Dec. 31, 2014</a></td>
<td class="nump">$ 76,095<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 31,951<span></span>
</td>
<td class="nump">$ 30,823,769<span></span>
</td>
<td class="num">$ (29,785,640)<span></span>
</td>
<td class="nump">$ 1,146,175<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesOther', window );">Sale of convertible preferred stock for cash (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueOther', window );">Sale of convertible preferred stock for cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 983,941<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,695,869<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,679,810<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">67,905<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">67,905<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,689,287)<span></span>
</td>
<td class="num">(2,689,287)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance at December 31, 2015 (in shares) at Dec. 31, 2015</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">3,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,950,813<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at December 31, 2015 at Dec. 31, 2015</a></td>
<td class="nump">$ 76,095<span></span>
</td>
<td class="nump">$ 983,941<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 31,951<span></span>
</td>
<td class="nump">32,587,543<span></span>
</td>
<td class="num">(32,474,927)<span></span>
</td>
<td class="nump">1,204,603<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">967,667<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">967,667<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,271,701)<span></span>
</td>
<td class="num">(3,271,701)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance at December 31, 2015 (in shares) at Dec. 31, 2016</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">2,868<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55,235,233<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at December 31, 2015 at Dec. 31, 2016</a></td>
<td class="nump">$ 76,095<span></span>
</td>
<td class="nump">$ 940,705<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 55,235<span></span>
</td>
<td class="nump">34,914,963<span></span>
</td>
<td class="num">(35,746,628)<span></span>
</td>
<td class="nump">240,370<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Conversion of preferred stock to common stock (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(132)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities', window );">Conversion of preferred stock to common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (43,236)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,400<span></span>
</td>
<td class="nump">41,836<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Sale of common stock for cash upon warrant exercise (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,884,420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Sale of common stock for cash upon warrant exercise</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,884<span></span>
</td>
<td class="nump">1,317,917<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,339,801<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesOther', window );">Sale of convertible preferred stock for cash (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueOther', window );">Sale of convertible preferred stock for cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 980,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">980,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">57,224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">57,224<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,170,162)<span></span>
</td>
<td class="num">(2,170,162)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance at December 31, 2015 (in shares) at Dec. 31, 2017</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">2,570<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">106,736,810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at December 31, 2015 at Dec. 31, 2017</a></td>
<td class="nump">$ 76,095<span></span>
</td>
<td class="nump">$ 842,990<span></span>
</td>
<td class="nump">$ 980,000<span></span>
</td>
<td class="nump">$ 106,737<span></span>
</td>
<td class="nump">35,589,911<span></span>
</td>
<td class="num">$ (37,916,790)<span></span>
</td>
<td class="num">(321,057)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities', window );">Conversion of preferred stock to common stock (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(298)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,862,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities', window );">Conversion of preferred stock to common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (97,715)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,862<span></span>
</td>
<td class="nump">77,853<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Sale of common stock for cash upon warrant exercise (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,639,577<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Sale of common stock for cash upon warrant exercise</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 31,640<span></span>
</td>
<td class="nump">$ 539,871<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 571,511<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase to additional paid-in capital (APIC) from recognition of equity-based compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=79507207&amp;loc=d3e4534-113899<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=96864182&amp;loc=d3e11149-113907<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 20<br> -Section 55<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=96864182&amp;loc=d3e11178-113907<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-30)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21475-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued attributable to transactions classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesOther</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross value of stock issued during the period upon the conversion of convertible securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of shares of stock issued attributable to transactions classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueOther</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued as a result of the exercise of stock options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>instant</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6820651408">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (2,170,162)<span></span>
</td>
<td class="num">$ (3,271,701)<span></span>
</td>
<td class="num">$ (2,689,287)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net loss to net cash used in operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">28,027<span></span>
</td>
<td class="nump">28,780<span></span>
</td>
<td class="nump">28,935<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense</a></td>
<td class="nump">57,224<span></span>
</td>
<td class="nump">967,667<span></span>
</td>
<td class="nump">67,905<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInReceivables', window );">Grant funds receivable</a></td>
<td class="num">(31,684)<span></span>
</td>
<td class="nump">91,904<span></span>
</td>
<td class="num">(40,637)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
<td class="num">(13,314)<span></span>
</td>
<td class="num">(5,626)<span></span>
</td>
<td class="num">(12,146)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">441,445<span></span>
</td>
<td class="nump">242,857<span></span>
</td>
<td class="num">(60,033)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities', window );">Total adjustments</a></td>
<td class="nump">481,698<span></span>
</td>
<td class="nump">1,325,582<span></span>
</td>
<td class="num">(15,976)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash used in operating activities</a></td>
<td class="num">(1,688,464)<span></span>
</td>
<td class="num">(1,946,119)<span></span>
</td>
<td class="num">(2,705,263)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchase of property and equipment</a></td>
<td class="num">(4,350)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(15,850)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(4,350)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(15,850)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock', window );">Net proceeds from sale of preferred stock</a></td>
<td class="nump">980,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,679,810<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Net proceeds from sale of common stock</a></td>
<td class="nump">571,511<span></span>
</td>
<td class="nump">1,339,801<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided in financing activities</a></td>
<td class="nump">1,551,511<span></span>
</td>
<td class="nump">1,339,801<span></span>
</td>
<td class="nump">2,679,810<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net decrease in cash and cash equivalents</a></td>
<td class="num">(141,303)<span></span>
</td>
<td class="num">(606,318)<span></span>
</td>
<td class="num">(41,303)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of period</a></td>
<td class="nump">454,030<span></span>
</td>
<td class="nump">1,060,348<span></span>
</td>
<td class="nump">1,101,651<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of period</a></td>
<td class="nump">$ 312,727<span></span>
</td>
<td class="nump">$ 454,030<span></span>
</td>
<td class="nump">$ 1,060,348<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sum of adjustments which are added to or deducted from net income or loss, including the portion attributable to noncontrolling interest, to reflect cash provided by or used in operating activities, in accordance with the indirect cash flow method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3044-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the 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. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513438&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationDepletionAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in prepaid expenses, and assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuance of preferred stocks identified as being convertible into another form of financial instrument, typically the entity's common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6655618528">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows (Parentheticals) - shares<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Convertible preferred stock (in shares)</a></td>
<td class="nump">298<span></span>
</td>
<td class="nump">123<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Conversion of stock, shares issued (in shares)</a></td>
<td class="nump">19,862,000<span></span>
</td>
<td class="nump">1,400,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6604337344">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Description of Business<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: justify; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Description</div><div style="display: inline; font-weight: bold;"> of Business</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax Labs, Inc. (&#x201c;GeoVax&#x201d; or the &#x201c;Company&#x201d;), is a clinical-stage biotechnology company developing human vaccines using our novel vaccine platform. Our current development programs are focused on preventive vaccines against Human Immunodeficiency Virus (HIV), Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, Lassa), and malaria, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. We believe our technology and vaccine development expertise are well-suited for a variety of human infectious diseases and we intend to pursue further expansion of our product pipeline.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Certain of our vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and human clinical trials.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>take many years and often involves expenditure of substantial resources. Our goal is to build a profitable company by generating income from products we develop and commercialize, either alone or with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more potential strategic partners.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in Smyrna, Georgia (metropolitan Atlanta area). <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -URI http://asc.fasb.org/topic&amp;trid=2134479<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6611734480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Summary of Significant Accounting Policies<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Summary of Significant Accounting Policies</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Principles of Consolidation</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Basis of Presentation</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">twelve</div>-month period following the date of these consolidated financial statements. We are devoting substantially all of our present efforts to research and development. We have funded our activities to date from government grants and clinical trial assistance, and from sales of our equity securities. We will continue to require substantial funds to continue our research and development activities. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We believe that our existing cash resources and government funding commitments will be sufficient to continue our planned <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">operations into the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div> Due to our history of operating losses and our continuing need for capital to conduct our research and development activities, there is substantial doubt concerning our ability to operate as a going concern beyond that date. We are currently exploring sources of capital through additional government grants and contracts. We also intend to secure additional funds through sales of our equity securities or by other means. Management believes that we will be successful in securing the additional capital required to continue the Company&#x2019;s planned operations, but that our plans do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> fully alleviate the substantial doubt about the Company&#x2019;s ability to operate as a going concern. Additional funding <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be available on favorable terms or at all. If we fail to obtain additional capital when needed, we will be required to delay, scale back, or eliminate some or all of our research and development programs as well as reduce our general and administrative expenses.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div><div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expense<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">s during the reporting period. Actual results <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>differ from those estimates.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Cash and Cash Equivalents</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We consider all highly liquid investments with a maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months or less when purchased to be cash equivalents. Our cash and cash equivalents consist primarily of bank depos<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">its and money market accounts. The recorded values approximate fair market values due to the short maturities.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Fair Value of Financial Instruments and Concentration of Credit Risk</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Property and Equipment</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Property and equipment are stated at cost, less accumulated<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> years. We amortize leasehold improvements using the straight-line method over the term of the related lease. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2016, </div>the <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Financial Accounting Standards Board (FASB) issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02,</div> <div style="display: inline; font-style: italic;">Leases</div> (ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div>). ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> requires lessees to recognize the assets and liabilities on their balance sheet for the rights and obligations created by most leases and continue to recognize expenses on their income statements over the lease term. It will also require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. The guidance is effective for annual reporting periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2018, </div>and interim periods within those years. Early adoption is permitted. We do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> currently know the impact ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> will have on our financial statements, which will be dependent upon the nature of any lease obligations we <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have at the time of our adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02.</div> </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Impairment of Long-Lived Assets</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows expected t<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">o be generated by such assets. If we consider such assets to be impaired, the impairment to be<div style="display: inline; font-weight: bold;"> </div>recognized is measured by the amount by which the carrying amount of the assets exceeds the expected future net cash flows from the assets.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Accrued </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">Expenses</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet been billed by our <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party vendors. This process involves identifying services and activities that have been performed by such vendors on our behalf and estimating the level to which they have been performed and the associated cost incurred for such service as of each balance sheet date. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Net Loss Per Share</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Basic and diluted loss per common share are computed based on the weighted average numbe<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">r of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. Common share equivalents which could potentially dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, totaled approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">245.3</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93.9</div> million, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90.3</div> million at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div><div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Revenue Recognition</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> w<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">e recognized revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">101,</div> <div style="display: inline; font-style: italic;">Revenue Recognition in Financial Statements, </div>as amended by Staff Accounting Bulletin <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104,</div> <div style="display: inline; font-style: italic;">Revenue Recognition, </div>(SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104</div>). SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104</div> provides guidance in applying GAAP to revenue recognition issues, and specifically addresses revenue recognition for upfront, nonrefundable fees received in connection with research collaboration agreements. During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> our revenue consisted primarily of grant and contract funding received from the NIH (see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div>). Revenue from these arrangements is approximately equal to the costs incurred and is recorded as income as the related costs are incurred.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">Revenue from Contracts with Customers</div> (ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div>), which creates a new Topic, Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606.</div> The standard is principle-based and provides a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-step model to determine when and how revenue is recognized. The core principle is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> is effective for the Company beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2018. </div>We do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> will have a material impact on our financial statements.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Research and Development Expense</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">(i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party service providers to perform, monitor and accumulate data related to our preclinical studies and clinical trials, (iv) costs related to sponsored research agreements, and (v) the costs to procure and manufacture materials used in clinical trials. These costs are charged to expense as incurred.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Patent Costs</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense.<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Period to Period Comparisons</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be relied upon as predictive of the results for future periods.<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Income Taxes</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities a<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">nd their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> that some portion or all of the deferred tax assets will be realized.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Stock-Based Compensation</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the aw<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">ard at the grant date. Compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Compensation cost for stock options or warrants is estimated at the grant date based on each instrument&#x2019;s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> for additional stock-based compensation information. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div><div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2016, </div>the <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> <div style="display: inline; font-style: italic;">Improvements to Employee Share-Based Payment Accounting</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&#x201d;</div>), which amends Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718,</div> Compensation &#x2013; Stock Compensation. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> is an attempt to simplify several aspects of the accounting for stock-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. We adopted ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> effective <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017; </div>such adoption had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> material impact on our financial statements.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2017, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> <div style="display: inline; font-style: italic;">Scope of Modification</div><div style="display: inline; font-style: italic;"> Accounting</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&#x201d;</div>), which amends Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718,</div> Compensation &#x2013; Stock Compensation. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> is an attempt to provide clarity and reduce both (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) diversity in practice and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) cost and complexity when applying the guidance in Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718</div> Compensation &#x2013; Stock Compensation, to a change to the terms or conditions of a share-based payment award. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> is effective for the Company beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div> We do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> will have a material impact on our financial statements.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Other </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">Recent Accounting Pronouncements</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2017, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,</div> <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">(Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11&#x201d;</div>), which amends Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">260,</div> Earnings Per Share, Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">480,</div> Distinguishing Liabilities from Equity, and Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">815,</div> Derivatives and Hedging. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> changes the classification of certain equity-linked financial instruments (or embedded features) with down round features and clarifies existing disclosure requirements for equity-classified instruments. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> is effective for the Company beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019.</div> We are currently evaluating the impact of the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> on our financial statements.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Except as discussed above, t<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">here have been <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> recent accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements, nor do we believe that any recently issued, but <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet effective, accounting standards if currently adopted would have a material effect on our financial statements. </div></div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Property and Equipment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;"> </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Property and Equipment</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Property and equipment<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> as shown on the accompanying Consolidated Balance Sheets is composed of the following as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016:</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 68%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Laboratory equipment</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">530,306</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">525,956</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Leasehold improvements</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115,605</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115,605</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other furniture, fixtures &amp; equipment</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,685</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,685</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total property and equipment</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">674,596</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">670,246</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Accumulated depreciation and amortization</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(643,445</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(615,418</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Property and equipment, net</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,151</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,828</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Depreciation and <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">leasehold amortization expense was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$28,027,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$28,780,</div> and <div style="display: inline; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -URI http://asc.fasb.org/topic&amp;trid=2155823<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6805025504">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Accrued Expenses<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock', window );">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;"> </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Accrued Expenses</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Accrued expenses as shown on the accompanying Consolidated Balance Sheets is composed of the following as of <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016:</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2017</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2016</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 68%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Accrued <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">management salaries</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">532,615</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201,170</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Accrued directors<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&#x2019; fees</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182,620</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78,070</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Other<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> accrued expenses</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,476</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Total accrued expenses</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">733,711</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">294,240</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a),20,24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6813143968">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Grants and Collaboration Revenue<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">. </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Grants</div><div style="display: inline; font-weight: bold;"> and </div><div style="display: inline; font-weight: bold;">Collaboration Revenue</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Government Grants and Contracts</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We receive payments from government entities under our grants and contracts with the National Institute of Allergy and Infectious Diseases in support of certain of our vaccine research and development efforts. We record revenue associated with government grants and contracts as the reimbursable costs are incurred. <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> we recorded <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$980,270,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$828,918,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$428,081,</div> respectively, of revenue associated with these grants and contracts. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>there is an aggregate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$481,695</div> in remaining grant funds available for use during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Collaboration Revenue</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2017, </div>we entered into a clinical trial collaboration agreement with American Gene Technologies International, Inc. (&#x201c;AGT&#x201d;) whereby AGT intends to conduct a phase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> human clinical trial investigating our combined technologies as a functional cure for HIV infection. In connection with the agreement, AGT paid to us a non-refundable fee of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$95,000,</div> which we recorded as collaboration revenue during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017.</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6817159936">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Commitments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsDisclosureTextBlock', window );">Commitments Disclosure [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">. </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Commitments</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Lease Agreement</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We lease approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">,400</div> square feet of office and laboratory space pursuant to an operating lease which expires on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2018. </div>Rent expense for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$151,748,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$149,288,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$146,092,</div> respectively. Future minimum lease payments total <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$156,545</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div> </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Other Commitments</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In the normal course of business, we <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>enter into various firm purchase commitments related to production and testing of our vaccine material, conduct of clinical trials, and other research-related act<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">ivities. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>we had approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$79,000</div> of unrecorded outstanding purchase commitments to our vendors and subcontractors, all of which we expect will be due in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div> We expect this entire amount to be reimbursable to us pursuant to currently outstanding government grants.</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -URI http://asc.fasb.org/topic&amp;trid=2144648<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6805064880">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Preferred Stock<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockTextBlock', window );">Preferred Stock [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">. </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Preferred Stock</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Series B Convertible Preferred Stock</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our Series B Convertible Preferred Stock, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,000</div> stated value (&#x201c;Series B Preferred Stock&#x201d;), has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">a liquidation preference equal to the stated value per share. The Series B Preferred Stock has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> voting rights and is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> entitled to a dividend. As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>there were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100</div> shares of </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Series B Preferred Stock outstanding, convertible at any time at the option of the holder into <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285,714</div> shares of common stock.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Series C Convertible Preferred Stock</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2015, </div>we issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,000</div> shares of our Series C Convertible Preferred Stock, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,000</div> stated value (&#x201c;<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Series C Preferred Stock&#x201d;) and warrants to purchase up to an aggregate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51,333,331</div> shares of our common stock for total net proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$2,679,810.</div> We allocated <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,695,869</div> of the purchase price to the fair value of the warrants issued in the transaction (recorded to Additional Paid-in Capital) and recorded the net amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$983,941</div> as the initial carrying value of the Series C Preferred Stock.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> Series C Preferred Stock has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including a liquidation preference equal to the stated value per share. The Series C Preferred Stock has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> voting rights and is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> entitled to a dividend.</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> The Series C Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, and contains price adjustment provisions which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may, </div>under certain circumstances, reduce the conversion price if we sell, or grant options to purchase, our common stock at a price lower than the then conversion price of the Series C Preferred Stock. During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132</div> shares of Series C Preferred Stock were converted into <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,400,000</div> shares of common stock. During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">298</div> shares of Series C Preferred Stock were converted into <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,862,000</div> shares of common stock. </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2017, </div>in connection with the issuance of our Series D Convertible Preferred Stock discussed below, the conversion price of our Series C Preferred Stock was automatically reduced from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.05</div> per share to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.015</div> per share. </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>there were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,570</div> shares of </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Series C Preferred Stock outstanding, convertible into <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">171,349,733</div> shares of common stock.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div><div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Series D Convertible Preferred Stock</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2017, </div>we issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,000</div> shares of our Series D Convertible Preferred Stock, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,000</div> stated value (&#x201c;<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Series D Preferred Stock&#x201d;), for gross proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.0</div> million. Net proceeds, after deduction of certain expenses, were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$980,000.</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Each share of Series D Preferred Stock is entitled to a liquidation preference equal to the initial purchase price, has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> voting rights, and <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> entitled to a dividend. The Series D Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, with an initial conversion price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.015</div> per share. </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">The Series D Preferred Shares contains price adjustment provisions, which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may, </div>under certain circumstances, reduce the conversion price on future dates according to a formula based on the then-current market price for our common stock.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We assessed the Series D Preferred Stock under ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">480,</div> &#x201c;<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">Distinguishing Liabilities from Equity</div>&#x201d; (&#x201c;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">480&#x201d;</div>), ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">815,</div> &#x201c;<div style="display: inline; font-style: italic;">Derivatives and Hedging</div>&#x201d; (&#x201c;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">815&#x201d;</div>), and ASC Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">470,</div> &#x201c;<div style="display: inline; font-style: italic;">Debt</div>&#x201d; (&#x201c;ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">470&#x201d;</div>). The Series D Preferred Stock contains an embedded feature allowing an optional conversion by the holder into common stock which meets the definition of a derivative. However, we determined that the preferred stock is an &#x201c;equity host&#x201d; (as described by ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">815</div>) for purposes of assessing the embedded derivative for potential bifurcation and that the optional conversion feature is clearly and closely associated to the preferred stock host; therefore, the embedded derivative does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> require bifurcation and separate recognition under ASC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">815.</div> We determined there to be a beneficial conversion feature (&#x201c;BCF&#x201d;) requiring recognition at its intrinsic value. Since the conversion option of the preferred stock was immediately exercisable, the amount allocated to the BCF was immediately accreted to preferred dividends, resulting in an increase in the carrying value of the preferred stock.</div></div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Common Stock<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">.</div><div style="display: inline; font-weight: bold;"> </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Common Stock</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Increase in Authorized Shares of Common Stock</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">At a special meeting of our stockholders held on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 4, 2017, </div>our stockholders approved an amendment to our certificate of incorporation to increase our authorized shares of common stock from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300,000,000</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">600,000,000</div> shares. The amendment to our certificate of incorporation was filed with the Delaware Secretary of State on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 4, 2017.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Common Stock Transactions</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">D<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">uring <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> we issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,862,000</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,400,000</div> shares of our common stock, respectively, pursuant to the conversion of our Series C Preferred Stock (see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div>). </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> we issued <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,639,577</div> shares of our common stock related to the exercise of stock purchase warrants, resulting in net proceeds to us of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$571,511.</div> During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> we issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,884,420</div> shares of our common stock related to the exercise of stock purchase warrants, resulting in net proceeds of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1,339,801.</div> </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Stock Option Plans</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2006</div> we adopted the GeoVax Labs, Inc. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2006</div> Equity Incentive Plan (the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x201c;2006</div> Plan&#x201d;) and <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> our stockholders approved the GeoVax Labs, Inc. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> Stock Incentive Plan (the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x201c;2016</div> Plan&#x201d;) which provides our Board of Directors broad discretion in creating equity incentives for employees, officers, directors and consultants. We have reserved <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,550,300</div> shares of our common stock for currently outstanding stock options under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2006</div> Plan, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,000,000</div> shares for outstanding stock options and future issuances under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> Plan. The <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> Plan replaces the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2006</div> Plan, which expired <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 28, 2016, </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> further grants <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be made under the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2006</div> Plan. As such, the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> Plan will serve as the sole equity incentive compensation plan for the Company</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">. The exercise price for any option granted <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be less than fair value (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110%</div> of fair value for ISO&#x2019;s granted to certain employees). Options have a maximum <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">ten</div>-year term and generally vest over <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> years. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div><div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Certain information concerning our stock opti<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">on plans as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>and a summary of activity during the year then ended is presented below:</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Number</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">of Shares</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted-</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Average</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Exercise</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Price</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted-</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Average</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Remaining</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Contractual</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Term (yrs)</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Aggregate</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Intrinsic</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Value</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 52%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,499,475</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.21</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Granted</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,680,000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.05</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercised</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Forfeited or expired</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(155,200</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.25</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,024,275</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.29</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercisable at December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,951,484</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.90</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.6</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Stock Purchase</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;"> Warrants</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The following table presents a summary of stock purchase warrant <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">activity during the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017:</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Number of Shares</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted Average</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Exercise Price</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 2016</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,751,578</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.07</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Issued</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercised</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(31,639,577</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.02</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Forfeited or expired</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,112,001</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.57</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">and exercisable at December 31, 2017</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Common Stock Reserved</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">A summary<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> of common stock reserved for future issuance as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>is as follows:</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="margin-right: 20%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 81%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Stock Option Plans</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,550,300</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series B Convertible Preferred Stock</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285,714</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series C Convertible Preferred Stock</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">171,349,733</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series D Convertible Preferred Stock</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66,666,666</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">245,852,413</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr>  </table> </div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Stock-based Compensation<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">.</div><div style="display: inline; font-weight: bold;"> </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Stock-Based Compensation</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Stock Option Plan</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">s</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows:</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">15</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Weighted average risk-free interest rates</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.40</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.26</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.99</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected dividend yield</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected life of option (yrs)</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">7.0</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.0</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.0</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected volatility</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89.73</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88.72</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.43</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Stock-based compensation expense related to <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">our stock option plans was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$57,224,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$54,805,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$67,905</div> during the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively. Stock option expense is allocated to research and development expense or to general and administrative expense based on the nature of the services provided by the related individuals. For the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>stock option expense was allocated as follows:</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div><div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">15</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">General and administrative expense</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,271</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,191</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45,822</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Research and development expense</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,953</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,614</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,083</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total stock option expense</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,224</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,805</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67,905</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,</div> there was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$218,280</div> of unrecognized compensation expense related to stock-based compensation arrangements pursuant to our stock option plans. The unrecognized compensation expense is expected to be recognized over a weighted average remaining period of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6</div> years.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Additional information concerning our stock options for t<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">he years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> is as follows:</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">5</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Weighted average fair value of options granted</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.04</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.05</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.09</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Intrinsic value of options exercised</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total fair value of options vested</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58,337</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,757</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66,622</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Other </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">Non-E</div><div style="display: inline; font-style: italic;">mp</div><div style="display: inline; font-style: italic;">loyee Stock-Based C</div><div style="display: inline; font-style: italic;">ompensation</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We recorded <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">general and administrative expense of $-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0</div>-, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$912,862</div> and $-<div style="display: inline; font-style: italic; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -URI http://asc.fasb.org/topic&amp;trid=2228938<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 50<br> -URI http://asc.fasb.org/subtopic&amp;trid=2208855<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Retirement Plan<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">. </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Retirement Plan</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We participate in a multi-employer defined contribution retirement plan (the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x201c;401k</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> Plan&#x201d;) administered by a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party service provider, and the Company contributes to the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401k</div> Plan on behalf of its employees based upon a matching formula. During the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> our contributions to the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401k</div> Plan were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$29,265,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$33,871,</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$40,296,</div> respectively.</div></div></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6652328000">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Income Taxes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureTextBlockAbstract', window );"><strong>Notes to Financial Statements</strong></a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Tax Disclosure [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: top;"> <td style="width: 36pt;"> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">. </div></div></div> </td> <td> <div style=" margin: 0pt; text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">Income Taxes</div></div></div> </td> </tr>  </table> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">, we have a consolidated federal net operating loss (&#x201c;NOL&#x201d;) carryforward of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$70.9</div> million, available to offset against future taxable income which expires in varying amounts in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2037.</div> Additionally, we have approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$949,000</div> in research and development (&#x201c;R&amp;D&#x201d;) tax credits that expire in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2022</div> through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2037</div> unless utilized earlier. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> income taxes have been paid to date. Section <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">382</div> of the Internal Revenue Code contains provisions that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>limit our utilization of our NOL and R&amp;D tax credit carryforwards in any given year as a result of significant changes in ownership interests that have occurred in past periods or <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>occur in future periods.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 22, 2017, </div>the Tax Cuts and Jobs Act (the &#x201c;Tax Act&#x201d;) was enacted into law in the United States. <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">The Tax Act makes broad changes to the U.S. tax code, including, but <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited to, reducing the U.S. federal corporate tax rate from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35%</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21%.</div> With regard to the Tax Act impact to the Company for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>we have recognized the impact of tax reform related to the revaluation of deferred tax assets and liabilities based on the rates we expect them to reverse in the future, which is generally <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21%.</div> The amount recorded as tax expense related to the remeasurement of the deferred tax balance was approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$10.1</div></div> million, which was fully offset by a reduction in the valuation allowance.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"></div><div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities included th<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">e following at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016:</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Deferred tax assets:</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 64%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Net operating loss carryforward</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,273,259</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,689,298</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Research and development tax credit carryforward</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">949,340</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">892,231</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Stock-based compensation expense</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,709,867</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,748,899</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Accrued salaries and directors<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&#x2019; fees</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">185,961</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Depreciation</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,532</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,331</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Total deferred tax assets</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,123,959</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Deferred tax liabilities</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Net deferred tax assets</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,123,959</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Valuation allowance</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,123,959</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Net deferred tax asset after reduction for valuation allowance</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We have established a full valuation allowance equal to the amount of our net deferred tax assets due to uncertainties with respect to our ability to generate sufficient taxable income to realize these assets in the future. A reconciliation of the income tax benefit on losses at the U.S. federal statutory rate to the reported income tax expense is as follows:</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">15</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">U.S. federal statutory rate applied to pretax loss</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(737,855</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,112,378</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(936,936</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Permanent differences</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">436</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,012</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,914</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Research and development credits</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,109</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">59,087</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67,901</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Impact of Tax Act</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,086,795</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Change in valuation allowance</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,406,485</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,051,279</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">866,121</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Reported income tax expense</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -URI http://asc.fasb.org/topic&amp;trid=2144680<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6625529312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events [Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div></div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div><div style="display: inline; font-weight: bold;">Subsequent Event</div><div style="display: inline; font-weight: bold;">s</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2018, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300</div> shares of Series D Preferred Stock were converted into <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,000,000</div> shares of common stock.</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2018, </div>we issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,000,000</div> shares of our common stock in connection with entering into a financial advisory and investment banking agreement.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 28, 2018, </div>we entered into a Senior Note Purchase Agreement with Georgia Research Alliance, Inc. (GRA) pursuant to which we issued a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-year Senior Promissory Note (the &#x201c;Note&#x201d;) in exchange for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$50,000.</div> The Note bears an annual interest rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5%,</div> payable monthly, with principal repayments beginning in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> year. In connection with the Note, we also issued to the GRA a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-year warrant to purchase <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">178,571</div> shares of our common stock at a purchase price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.042</div> per share.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018,</div> we sold shares of our Series E convertible preferred stock to certain institutional investors for an aggregate purchase price of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$600,000.</div> The preferred stock is convertible at any time into shares of our common stock at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.08</div> per share (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,500,000</div> shares in the aggregate), subject to possible adjustment as provided in the certificate of designation.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 855<br> -URI http://asc.fasb.org/topic&amp;trid=2122774<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6611734480">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Schedule II - Valuation and Qualifying Accounts<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">GEOVAX LABS, INC.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">SCHEDULE II <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&#x2013; VALUATION AND QUALIFYING ACCOUNTS</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;">For t</div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">he Years Ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 3</div></div><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div> <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-width: 700px;">  <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Additions</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Description</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Balance at</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Beginning</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Of Period</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Charged to</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Costs and</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Expenses</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Charged to</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Other</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Accounts</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Deductions</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Balance at</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">End</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Of Period</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Reserve Deducted in the Balance Sheet<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> From the Asset to Which it Applies:</div></div> </td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Allowance for Deferred Tax Assets</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,207,800</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,123,959</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,131,034</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,200,725</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">5</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,021,943</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,109,094</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,131,034</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr>  </table> </div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;">F-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -URI http://asc.fasb.org/topic&amp;trid=2122369<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811361648">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationPolicyTextBlock', window );">Consolidation, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Principles of Consolidation</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of Accounting, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Basis of Presentation</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">twelve</div>-month period following the date of these consolidated financial statements. We are devoting substantially all of our present efforts to research and development. We have funded our activities to date from government grants and clinical trial assistance, and from sales of our equity securities. We will continue to require substantial funds to continue our research and development activities. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We believe that our existing cash resources and government funding commitments will be sufficient to continue our planned <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">operations into the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div> Due to our history of operating losses and our continuing need for capital to conduct our research and development activities, there is substantial doubt concerning our ability to operate as a going concern beyond that date. We are currently exploring sources of capital through additional government grants and contracts. We also intend to secure additional funds through sales of our equity securities or by other means. Management believes that we will be successful in securing the additional capital required to continue the Company&#x2019;s planned operations, but that our plans do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> fully alleviate the substantial doubt about the Company&#x2019;s ability to operate as a going concern. Additional funding <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be available on favorable terms or at all. If we fail to obtain additional capital when needed, we will be required to delay, scale back, or eliminate some or all of our research and development programs as well as reduce our general and administrative expenses.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Use of Estimates</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expense<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">s during the reporting period. Actual results <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>differ from those estimates.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Cash and Cash Equivalents</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We consider all highly liquid investments with a maturity of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months or less when purchased to be cash equivalents. Our cash and cash equivalents consist primarily of bank depos<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">its and money market accounts. The recorded values approximate fair market values due to the short maturities.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfFinancialInstrumentsPolicy', window );">Fair Value of Financial Instruments, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Fair Value of Financial Instruments and Concentration of Credit Risk</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values.</div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property, Plant and Equipment, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Property and Equipment</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Property and equipment are stated at cost, less accumulated<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> years. We amortize leasehold improvements using the straight-line method over the term of the related lease. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2016, </div>the <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">Financial Accounting Standards Board (FASB) issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02,</div> <div style="display: inline; font-style: italic;">Leases</div> (ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div>). ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> requires lessees to recognize the assets and liabilities on their balance sheet for the rights and obligations created by most leases and continue to recognize expenses on their income statements over the lease term. It will also require disclosures designed to give financial statement users information on the amount, timing, and uncertainty of cash flows arising from leases. The guidance is effective for annual reporting periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 15, 2018, </div>and interim periods within those years. Early adoption is permitted. We do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> currently know the impact ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02</div> will have on our financial statements, which will be dependent upon the nature of any lease obligations we <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have at the time of our adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">02.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock', window );">Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Impairment of Long-Lived Assets</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows expected t<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">o be generated by such assets. If we consider such assets to be impaired, the impairment to be<div style="display: inline; font-weight: bold;"> </div>recognized is measured by the amount by which the carrying amount of the assets exceeds the expected future net cash flows from the assets.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_AccruedLiabilitiesPolicyTextBlock', window );">Accrued Liabilities [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Accrued </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">Expenses</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet been billed by our <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party vendors. This process involves identifying services and activities that have been performed by such vendors on our behalf and estimating the level to which they have been performed and the associated cost incurred for such service as of each balance sheet date.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings Per Share, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Net Loss Per Share</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Basic and diluted loss per common share are computed based on the weighted average numbe<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">r of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. Common share equivalents which could potentially dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, totaled approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">245.3</div> million, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93.9</div> million, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90.3</div> million at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Revenue Recognition</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">During the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> w<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">e recognized revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">101,</div> <div style="display: inline; font-style: italic;">Revenue Recognition in Financial Statements, </div>as amended by Staff Accounting Bulletin <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104,</div> <div style="display: inline; font-style: italic;">Revenue Recognition, </div>(SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104</div>). SAB <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104</div> provides guidance in applying GAAP to revenue recognition issues, and specifically addresses revenue recognition for upfront, nonrefundable fees received in connection with research collaboration agreements. During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> our revenue consisted primarily of grant and contract funding received from the NIH (see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div>). Revenue from these arrangements is approximately equal to the costs incurred and is recorded as income as the related costs are incurred.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2014, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">Revenue from Contracts with Customers</div> (ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div>), which creates a new Topic, Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606.</div> The standard is principle-based and provides a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-step model to determine when and how revenue is recognized. The core principle is that an entity should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> is effective for the Company beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2018. </div>We do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> will have a material impact on our financial statements.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpensePolicy', window );">Research and Development Expense, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Research and Development Expense</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">(i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div>-party service providers to perform, monitor and accumulate data related to our preclinical studies and clinical trials, (iv) costs related to sponsored research agreements, and (v) the costs to procure and manufacture materials used in clinical trials. These costs are charged to expense as incurred.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsFiniteLivedPolicy', window );">Intangible Assets, Finite-Lived, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Patent Costs</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense.<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PriorPeriodReclassificationAdjustmentDescription', window );">Reclassification, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Period to Period Comparisons</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be relied upon as predictive of the results for future periods.<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&nbsp;</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Tax, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Income Taxes</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities a<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">nd their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> that some portion or all of the deferred tax assets will be realized.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Stock-Based Compensation</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the aw<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">ard at the grant date. Compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Compensation cost for stock options or warrants is estimated at the grant date based on each instrument&#x2019;s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> for additional stock-based compensation information. </div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2016, </div>the <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> <div style="display: inline; font-style: italic;">Improvements to Employee Share-Based Payment Accounting</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&#x201d;</div>), which amends Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718,</div> Compensation &#x2013; Stock Compensation. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> is an attempt to simplify several aspects of the accounting for stock-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. We adopted ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> effective <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1, 2017; </div>such adoption had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> material impact on our financial statements.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 2017, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09,</div> <div style="display: inline; font-style: italic;">Scope of Modification</div><div style="display: inline; font-style: italic;"> Accounting</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09&#x201d;</div>), which amends Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718,</div> Compensation &#x2013; Stock Compensation. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> is an attempt to provide clarity and reduce both (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) diversity in practice and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) cost and complexity when applying the guidance in Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">718</div> Compensation &#x2013; Stock Compensation, to a change to the terms or conditions of a share-based payment award. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> is effective for the Company beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div> We do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> believe the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">09</div> will have a material impact on our financial statements.</div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">New Accounting Pronouncements, Policy [Policy Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;"><div style="display: inline; font-style: italic;">Other </div><div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">Recent Accounting Pronouncements</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2017, </div>the FASB issued Accounting Standards Update <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,</div> <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"><div style="display: inline; font-style: italic;">(Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception</div> (&#x201c;ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11&#x201d;</div>), which amends Accounting Standards Codification Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">260,</div> Earnings Per Share, Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">480,</div> Distinguishing Liabilities from Equity, and Topic <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">815,</div> Derivatives and Hedging. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> changes the classification of certain equity-linked financial instruments (or embedded features) with down round features and clarifies existing disclosure requirements for equity-classified instruments. ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> is effective for the Company beginning <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019.</div> We are currently evaluating the impact of the adoption of ASU <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> on our financial statements.</div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:left;">Except as discussed above, t<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">here have been <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> recent accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements, nor do we believe that any recently issued, but <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet effective, accounting standards if currently adopted would have a material effect on our financial statements.</div></div></div></div></div></div></div></div></div><span></span>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding accrued liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 305<br> -SubTopic 10<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4273-108586<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=84161450&amp;loc=d3e5614-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.3A-03)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355100-122828<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.3A-02)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the fair value of financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=77997519&amp;loc=d3e13279-108611<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 60<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7493716&amp;loc=d3e21868-110260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueOfFinancialInstrumentsPolicy</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 5.CC)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011434&amp;loc=d3e125687-122742<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 05<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=64802544&amp;loc=d3e202-110218<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65884525&amp;loc=d3e40913-109327<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32247-109318<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32280-109318<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for finite-lived intangible assets. This accounting policy also might address: (1) the amortization method used; (2) the useful lives of such assets; and (3) how the entity assesses and measures impairment of such assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=66006027&amp;loc=d3e16323-109275<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6359566&amp;loc=d3e326-107755<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 730<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18823-107790<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 13.B.Q1)<br> -URI http://asc.fasb.org/extlink&amp;oid=65893310&amp;loc=d3e214044-122780<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18726-107790<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b),(f)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84177426&amp;loc=d3e6061-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=84177426&amp;loc=d3e6143-108592<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84177426&amp;loc=d3e6132-108592<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6813227504">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Property and Equipment (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 68%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Laboratory equipment</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">530,306</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">525,956</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Leasehold improvements</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115,605</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115,605</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other furniture, fixtures &amp; equipment</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,685</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,685</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total property and equipment</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">674,596</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">670,246</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Accumulated depreciation and amortization</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(643,445</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(615,418</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Property and equipment, net</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,151</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,828</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Accrued Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 5%; margin-left: 18pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2017</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">2016</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 68%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Accrued <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">management salaries</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">532,615</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201,170</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Accrued directors<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&#x2019; fees</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182,620</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78,070</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Other<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> accrued expenses</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,476</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt;">Total accrued expenses</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">733,711</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 13%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">294,240</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr> </table></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Common Stock (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Number</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">of Shares</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted-</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Average</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Exercise</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Price</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; 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font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Aggregate</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Intrinsic</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Value</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 52%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,499,475</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.21</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Granted</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,680,000</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.05</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercised</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Forfeited or expired</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(155,200</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.25</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,024,275</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.29</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercisable at December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,951,484</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.90</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 36pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.6</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ScheduleOfWarrantActivityTableTextBlock', window );">Schedule of Warrant Activity [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Number of Shares</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Weighted Average</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Exercise Price</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding at December 31, 2016</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,751,578</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.07</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Issued</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercised</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(31,639,577</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.02</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Forfeited or expired</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,112,001</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.57</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding <div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">and exercisable at December 31, 2017</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfStockByClassTextBlock', window );">Schedule of Stock by Class [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 20%; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 81%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Stock Option Plans</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,550,300</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series B Convertible Preferred Stock</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285,714</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series C Convertible Preferred Stock</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">171,349,733</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Series D Convertible Preferred Stock</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66,666,666</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 16%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">245,852,413</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of warrant activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for share-based compensation plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information.  Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806784064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Stock-based Compensation (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">15</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Weighted average risk-free interest rates</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.40</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.26</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.99</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected dividend yield</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected life of option (yrs)</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> </div><div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: right;">7.0</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.0</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="2" style="text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.0</div></td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected volatility</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89.73</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88.72</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.43</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">%</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock', window );">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">15</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">General and administrative expense</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,271</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,191</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45,822</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Research and development expense</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,953</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,614</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,083</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total stock option expense</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,224</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,805</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67,905</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Share-based Compensation, Stock Options, Activity [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">5</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Weighted average fair value of options granted</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.04</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.05</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.09</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Intrinsic value of options exercised</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total fair value of options vested</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58,337</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,757</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66,622</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Income Taxes (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Deferred tax assets:</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 64%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Net operating loss carryforward</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,273,259</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,689,298</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Research and development tax credit carryforward</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">949,340</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">892,231</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Stock-based compensation expense</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,709,867</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,748,899</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Accrued salaries and directors<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">&#x2019; fees</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">185,961</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Depreciation</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,532</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,331</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 27pt;">Total deferred tax assets</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,123,959</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Deferred tax liabilities</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Net deferred tax assets</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,123,959</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td colspan="1" style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: left;">Valuation allowance</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,123,959</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Net deferred tax asset after reduction for valuation allowance</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 3px;">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">20<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">15</div></div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 55%;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">U.S. federal statutory rate applied to pretax loss</div> </td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(737,855</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,112,378</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 12%; border-bottom: 1px none rgb(0, 0, 0); text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(936,936</div></td> <td nowrap="nowrap" style="width: 1%; border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Permanent differences</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">436</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,012</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,914</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Research and development credits</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,109</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">59,087</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67,901</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Impact of Tax Act</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,086,795</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Change in valuation allowance</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,406,485</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,051,279</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">866,121</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Reported income tax expense</div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 3px;">&nbsp;</td> <td style="width: 1%; 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font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6656430416">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Schedule II - Valuation and Qualifying Accounts (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TableTextBlock', window );"><strong>Notes Tables</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td colspan="6" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Additions</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; width: 40%; border-bottom: thin solid rgb(0, 0, 0);"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</div> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Description</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px; border-bottom: thin solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Balance at</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Beginning</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Of Period</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Charged to</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Costs and</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Expenses</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Charged to</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Other</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Accounts</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Deductions</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);">&nbsp;</td> <td colspan="2" style="text-align: center; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Balance at</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">End</div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">Of Period</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; padding-bottom: 1px;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Reserve Deducted in the Balance Sheet<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;"> From the Asset to Which it Applies:</div></div> </td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="border-bottom: 1px none rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Allowance for Deferred Tax Assets</div> </td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="text-align: left; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">7</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,207,800</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,123,959</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">6</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,131,034</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,200,725</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,331,759</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"> <div style=" font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-bottom: 0pt; margin-top: 0pt; margin-left: 9pt;">Year ended December 31, 201<div style="display: inline; font-family:'Times New Roman', Times, serif;font-size:10pt;">5</div></div> </td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.1pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,021,943</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 54.4pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,109,094</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 51.15pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 52.4pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-0-</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</td> <td style="width: 9%; text-align: right; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 53.65pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27,131,034</div></td> <td nowrap="nowrap" style="width: 1%; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin-left: 0pt;">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SummaryOfValuationAllowanceTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SummaryOfValuationAllowanceTextBlock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
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<html>
<head>
<title></title>
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806812656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Summary of Significant Accounting Policies (Details Textual) - shares<br> shares in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</a></td>
<td class="nump">245.3<span></span>
</td>
<td class="nump">93.9<span></span>
</td>
<td class="nump">90.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, Plant and Equipment, Useful Life</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, Plant and Equipment, Useful Life</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6805132208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Property and Equipment (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation, Depletion and Amortization, Nonproduction</a></td>
<td class="nump">$ 28,027<span></span>
</td>
<td class="nump">$ 28,780<span></span>
</td>
<td class="nump">$ 28,935<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table></div>
</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822850880">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 3 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">$ 674,596<span></span>
</td>
<td class="nump">$ 670,246<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation and amortization</a></td>
<td class="num">(643,445)<span></span>
</td>
<td class="num">(615,418)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="nump">31,151<span></span>
</td>
<td class="nump">54,828<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=govx_LaboratoryEquipmentMember', window );">Laboratory Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">530,306<span></span>
</td>
<td class="nump">525,956<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold Improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">115,605<span></span>
</td>
<td class="nump">115,605<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=govx_OtherFurnitureFixturesAndEquipmentMember', window );">Other Furniture Fixtures And Equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment, gross</a></td>
<td class="nump">$ 28,685<span></span>
</td>
<td class="nump">$ 28,685<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=govx_LaboratoryEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=govx_LaboratoryEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=govx_OtherFurnitureFixturesAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=govx_OtherFurnitureFixturesAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
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</DOCUMENT>
<DOCUMENT>
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<SEQUENCE>58
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822399104">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 4 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedSalariesCurrent', window );">Accrued management salaries</a></td>
<td class="nump">$ 532,615<span></span>
</td>
<td class="nump">$ 201,170<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_AccruedDirectorsFeesCurrent', window );">Accrued directors&#8217; fees</a></td>
<td class="nump">182,620<span></span>
</td>
<td class="nump">78,070<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Other accrued expenses</a></td>
<td class="nump">18,476<span></span>
</td>
<td class="nump">15,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Total accrued expenses</a></td>
<td class="nump">$ 733,711<span></span>
</td>
<td class="nump">$ 294,240<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_AccruedDirectorsFeesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of the obligations incurred through that date and payable for current directors fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_AccruedDirectorsFeesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedSalariesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of the obligations incurred through that date and payable for employees' services provided. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6911-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedSalariesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e7018-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6911-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811761712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Grants and Collaboration Revenue (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromGrants', window );">Revenue from Grants</a></td>
<td class="nump">$ 1,075,270<span></span>
</td>
<td class="nump">$ 828,918<span></span>
</td>
<td class="nump">$ 428,081<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_RevenueFromCollaboration', window );">Revenue from Collaboration</a></td>
<td class="nump">95,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_HealthCareOrganizationRevenueSourcesAxis=govx_NIHGrantsMember', window );">NIH Grants [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromGrants', window );">Revenue from Grants</a></td>
<td class="nump">980,270<span></span>
</td>
<td class="nump">$ 828,918<span></span>
</td>
<td class="nump">$ 428,081<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_UnusedGrantFunds', window );">Unused Grant Funds</a></td>
<td class="nump">$ 481,695<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_RevenueFromCollaboration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue associated with collaboration agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_RevenueFromCollaboration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_UnusedGrantFunds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of grant funds available for use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_UnusedGrantFunds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue earned during the period from non-repayable sum of money awarded to an entity to carry out a specific purpose as provided in grant agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HealthCareOrganizationRevenueSourcesAxis=govx_NIHGrantsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HealthCareOrganizationRevenueSourcesAxis=govx_NIHGrantsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6655747744">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Commitments (Details Textual)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Area of Real Estate Property | ft&#178;</a></td>
<td class="nump">8,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseAndRentalExpense', window );">Operating Leases, Rent Expense</a></td>
<td class="nump">$ 151,748<span></span>
</td>
<td class="nump">$ 149,288<span></span>
</td>
<td class="nump">$ 146,092<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">Operating Leases, Future Minimum Payments, Due in Two Years</a></td>
<td class="nump">156,545<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount', window );">Unrecorded Unconditional Purchase Obligation</a></td>
<td class="nump">$ 79,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of a real estate property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseAndRentalExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseAndRentalExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the unrecorded obligation to transfer funds in the future for fixed or minimum amounts or quantities of goods or services at fixed or minimum prices (for example, as in take-or-pay contracts or throughput contracts).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=77896938&amp;loc=d3e25336-109308<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823744512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Preferred Stock (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>May 31, 2017</div></th>
<th class="th"><div>Feb. 28, 2015</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Apr. 30, 2017</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, Par or Stated Value Per Share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Conversion of Stock, Shares Converted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">298<span></span>
</td>
<td class="nump">123<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Conversion of Stock, Shares Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,862,000<span></span>
</td>
<td class="nump">1,400,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock', window );">Proceeds from Issuance of Convertible Preferred Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 980,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 2,679,810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember', window );">Conversion from Series C Convertible Preferred Stock to Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Conversion of Stock, Shares Converted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">298<span></span>
</td>
<td class="nump">132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Conversion of Stock, Shares Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,862,000<span></span>
</td>
<td class="nump">1,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightAxis=govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember', window );">Warrants Issued in Connection with Series C Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51,333,331<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued', window );">Adjustments to Additional Paid in Capital, Warrant Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,695,869<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesAConvertiblePreferredStockMember', window );">Series A Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, Par or Stated Value Per Share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesBConvertiblePreferredStockMember', window );">Series B Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, Par or Stated Value Per Share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100<span></span>
</td>
<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ConvertiblePreferredStockTotalConversionShares', window );">Convertible Preferred Stock, Total Conversion Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">285,714<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember', window );">Series C Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, Par or Stated Value Per Share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,570<span></span>
</td>
<td class="nump">2,868<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ConvertiblePreferredStockTotalConversionShares', window );">Convertible Preferred Stock, Total Conversion Shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">171,349,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock Issued During Period, Shares, New Issues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants', window );">Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,679,810<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Stock Issued During Period, Value, New Issues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 983,941<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ConvertiblePreferredStockConversionPricePerShare', window );">Convertible Preferred Stock, Conversion Price Per Share</a></td>
<td class="nump">$ 0.015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember', window );">Series D Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred Stock, Par or Stated Value Per Share</a></td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="nump">$ 1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock Issued During Period, Shares, New Issues</a></td>
<td class="nump">1,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ConvertiblePreferredStockConversionPricePerShare', window );">Convertible Preferred Stock, Conversion Price Per Share</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock', window );">Proceeds from Issuance of Convertible Preferred Stock</a></td>
<td class="nump">$ 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost', window );">Proceeds From Issuance Of Convertible Preferred Stock, Net of Issuance Cost</a></td>
<td class="nump">$ 980,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ConvertiblePreferredStockConversionPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The conversion price per share of convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ConvertiblePreferredStockConversionPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ConvertiblePreferredStockTotalConversionShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total conversion shares of convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ConvertiblePreferredStockTotalConversionShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuance of callable preferred stock, after deductions of certain expenses, which is identified as being convertible to another type of financial security at the option of the issuer or the holder.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ProceedsFromIssuanceOfConvertiblePreferredStockNetOfIssuanceCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in additional paid in capital (APIC) resulting from the issuance of warrants. Includes allocation of proceeds of debt securities issued with detachable stock purchase warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=79512289&amp;loc=d3e4724-112606<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesConverted1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesConverted1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuance of preferred stocks identified as being convertible into another form of financial instrument, typically the entity's common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from issuance of capital stock which provides for a specific dividend that is paid to the shareholders before any dividends to common stockholder, which takes precedence over common stockholders in the event of liquidation and from issuance of rights to purchase common shares at a predetermined price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84159872&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightAxis=govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightAxis=govx_WarrantsIssuedInConnectionWithSeriesCPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesAConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesAConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesBConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesBConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesCConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesDConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822710192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Common Stock (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Aug. 04, 2017</div></th>
<th class="th"><div>Aug. 03, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common Stock, Shares Authorized</a></td>
<td class="nump">600,000,000<span></span>
</td>
<td class="nump">300,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600,000,000<span></span>
</td>
<td class="nump">300,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Conversion of Stock, Shares Issued</a></td>
<td class="nump">19,862,000<span></span>
</td>
<td class="nump">1,400,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Common Stock, Capital Shares Reserved for Future Issuance</a></td>
<td class="nump">245,852,413<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=govx_EquityIncentivePlan2006Member', window );">2006 Equity Incentive Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Common Stock, Capital Shares Reserved for Future Issuance</a></td>
<td class="nump">1,550,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod', window );">Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=govx_EquityIncentivePlan2006Member', window );">2006 Equity Incentive Plan [Member] | Incentive Stock Options (ISO's) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent', window );">Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent</a></td>
<td class="nump">110.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=govx_EquityIncentivePlan2016Member', window );">Equity Incentive Plan 2016 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Common Stock, Capital Shares Reserved for Future Issuance</a></td>
<td class="nump">6,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfExpenseAxis=govx_ExpenseAssociatedWithWarrantModificationsMember', window );">Expense Associated with Warrant Modifications [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_StockIssuedDuringPeriodSharesWarrantsExercised', window );">Stock Issued During Period, Shares, Warrants Exercised</a></td>
<td class="nump">31,639,577<span></span>
</td>
<td class="nump">21,884,420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromWarrantExercises', window );">Proceeds from Warrant Exercises</a></td>
<td class="nump">$ 571,511<span></span>
</td>
<td class="nump">$ 1,339,801<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember', window );">Conversion from Series C Convertible Preferred Stock to Common Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Conversion of Stock, Shares Issued</a></td>
<td class="nump">19,862,000<span></span>
</td>
<td class="nump">1,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_StockIssuedDuringPeriodSharesWarrantsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new shares of common stock issued during the period upon exercise of warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_StockIssuedDuringPeriodSharesWarrantsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate number of common shares reserved for future issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockCapitalSharesReservedForFutureIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromWarrantExercises">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromWarrantExercises</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchase price of common stock expressed as a percentage of its fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=govx_EquityIncentivePlan2006Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=govx_EquityIncentivePlan2006Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=govx_IncentiveStockOptionsISOMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=govx_IncentiveStockOptionsISOMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=govx_EquityIncentivePlan2016Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=govx_EquityIncentivePlan2016Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfExpenseAxis=govx_ExpenseAssociatedWithWarrantModificationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfExpenseAxis=govx_ExpenseAssociatedWithWarrantModificationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesCConvertiblePreferredStockToCommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811793600">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Common Stock - Activity of Stock Option Plan (Details)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding, options (in shares) | shares</a></td>
<td class="nump">3,499,475<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 1.21<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted, options (in shares) | shares</a></td>
<td class="nump">3,680,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted, weighted average exercise price, options (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.05<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod', window );">Forfeited or expired, options (in shares) | shares</a></td>
<td class="num">(155,200)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice', window );">Forfeited or expired, weighted average exercise price, options (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 15.25<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding, options (in shares) | shares</a></td>
<td class="nump">7,024,275<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.29<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Outstanding, weighted average exercise price, options (Year)</a></td>
<td class="text">8 years 292 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Outstanding, weighted average exercise price, options | $</a></td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Exercisable, options (in shares) | shares</a></td>
<td class="nump">1,951,484<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Exercisable at March 31, 2016, weighted average exercise price, options (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.90<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Exercisable at March 31, 2016, weighted average exercise price, options (Year)</a></td>
<td class="text">6 years 219 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Exercisable at March 31, 2016, weighted average exercise price, options | $</a></td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)-(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price of options that were either forfeited or expired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)-(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6816453872">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Common Stock - Activity of Stock Purchase Warrants (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightOutstanding', window );">Outstanding, shares (in shares) | shares</a></td>
<td class="nump">32,751,578<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1', window );">Outstanding, weighted average exercise price (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.07<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ClassOfWarrantOrRightIssuedDuringPeriod', window );">Issued (in shares) | shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice', window );">Issued (in dollars per share) | $ / shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ClassOfWarrantOrRightExercisedDuringPeriod', window );">Exercised (in shares) | shares</a></td>
<td class="num">(31,639,577)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice', window );">Exercised, weighted average exercise price (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.02<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod', window );">Forfeited or expired (in shares) | shares</a></td>
<td class="num">(1,112,001)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice', window );">Forfeited or expired, weighted average exercise price (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.57<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightOutstanding', window );">Outstanding, shares (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1', window );">Outstanding and exercisable at December 31, 2016 (in dollars per share) | $ / shares</a></td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price per share of warrants or rights exchanged during period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ClassOfWarrantOrRightExchangedDuringPeriodExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ClassOfWarrantOrRightExercisedDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of warrants or rights exercised during period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ClassOfWarrantOrRightExercisedDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of warrants or rights forfeited or expired during period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price per share of warrants or rights forfeited or expired during period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ClassOfWarrantOrRightForfeitedOrExpiredDuringPeriodExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ClassOfWarrantOrRightIssuedDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of Shares</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ClassOfWarrantOrRightIssuedDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price per share of warrants or rights issued during period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ClassOfWarrantOrRightIssuedDuringPeriodExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price per share or per unit of warrants or rights outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of warrants or rights outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
<FILENAME>R38.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822983696">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 8 - Common Stock - Common Stock Reserved for Future Issuance (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Common Stock, Reserved for Future Issuance (in shares)</a></td>
<td class="nump">245,852,413<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_WarrantMember', window );">Warrant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Common Stock, Reserved for Future Issuance (in shares)</a></td>
<td class="nump">7,550,300<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=govx_SeriesBConvertiblePreferredStockMember', window );">Series B Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Common Stock, Reserved for Future Issuance (in shares)</a></td>
<td class="nump">285,714<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=govx_SeriesCConvertiblePreferredStockMember', window );">Series C Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Common Stock, Reserved for Future Issuance (in shares)</a></td>
<td class="nump">171,349,733<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=govx_SeriesDConvertiblePreferredStockMember', window );">Series D Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Common Stock, Reserved for Future Issuance (in shares)</a></td>
<td class="nump">66,666,666<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate number of common shares reserved for future issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockCapitalSharesReservedForFutureIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_WarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_WarrantMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=govx_SeriesBConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=govx_SeriesBConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=govx_SeriesCConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=govx_SeriesCConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=govx_SeriesDConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=govx_SeriesDConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822857552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Stock-based Compensation (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and Administrative Expense</a></td>
<td class="nump">$ 1,232,368<span></span>
</td>
<td class="nump">$ 2,131,426<span></span>
</td>
<td class="nump">$ 1,429,731<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfExpenseAxis=govx_ExpenseAssociatedWithWarrantModificationsMember', window );">Expense Associated with Warrant Modifications [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and Administrative Expense</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">912,862<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=govx_EquityIncentivePlan2006Member', window );">2006 Equity Incentive Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="nump">57,224<span></span>
</td>
<td class="nump">$ 54,805<span></span>
</td>
<td class="nump">$ 67,905<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</a></td>
<td class="nump">$ 218,280<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition</a></td>
<td class="text">2 years 219 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfExpenseAxis=govx_ExpenseAssociatedWithWarrantModificationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfExpenseAxis=govx_ExpenseAssociatedWithWarrantModificationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=govx_EquityIncentivePlan2006Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=govx_EquityIncentivePlan2006Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6805111792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Stock-based Compensation - Significant Assumption Used in Fair Value Calculation (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Weighted average risk-free interest rates</a></td>
<td class="nump">2.40%<span></span>
</td>
<td class="nump">2.26%<span></span>
</td>
<td class="nump">1.99%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Expected dividend yield</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected life of option (yrs) (Year)</a></td>
<td class="text">7 years<span></span>
</td>
<td class="text">7 years<span></span>
</td>
<td class="text">7 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">89.73%<span></span>
</td>
<td class="nump">88.72%<span></span>
</td>
<td class="nump">91.43%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iv)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.D.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1</td>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6812173824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Stock-based Compensation - Allocation of Stock Option Expense (Details) - Employee Stock Option [Member] - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated stock option expense</a></td>
<td class="nump">$ 57,224<span></span>
</td>
<td class="nump">$ 54,805<span></span>
</td>
<td class="nump">$ 67,905<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">General and Administrative Expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated stock option expense</a></td>
<td class="nump">31,271<span></span>
</td>
<td class="nump">31,191<span></span>
</td>
<td class="nump">45,822<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Research and Development Expense [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated stock option expense</a></td>
<td class="nump">$ 25,953<span></span>
</td>
<td class="nump">$ 23,614<span></span>
</td>
<td class="nump">$ 22,083<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806776768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Stock-based Compensation - Additional Information for Stock Options (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted average fair value of options granted (in dollars per share)</a></td>
<td class="nump">$ 0.04<span></span>
</td>
<td class="nump">$ 0.05<span></span>
</td>
<td class="nump">$ 0.09<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue', window );">Intrinsic value of options exercised</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1', window );">Total fair value of options vested</a></td>
<td class="nump">$ 58,337<span></span>
</td>
<td class="nump">$ 54,757<span></span>
</td>
<td class="nump">$ 66,622<span></span>
</td>
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<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of options vested. Excludes equity instruments other than options, for example, but not limited to, share units, stock appreciation rights, restricted stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=96867065&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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</div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6636874656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Retirement Plan (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount', window );">Defined Contribution Plan, Employer Discretionary Contribution Amount</a></td>
<td class="nump">$ 29,265<span></span>
</td>
<td class="nump">$ 33,871<span></span>
</td>
<td class="nump">$ 40,296<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of discretionary contributions made by an employer to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanEmployerDiscretionaryContributionAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table></div>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822813136">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Income Taxes (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1">198 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income Tax Expense (Benefit)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate', window );">Deferred Tax Assets from Remeasurement due to Changes in Enacted Tax Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (10,100,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowanceByDeferredTaxAssetAxis=govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRateMember', window );">Deferred Tax Assets from Remeasurement due to Changes in Enacted Tax Rate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount', window );">Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,100,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember', window );">Scenario, Forecast [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent</a></td>
<td class="nump">21.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxCreditCarryforwardAxis=us-gaap_ResearchMember', window );">Research Tax Credit Carryforward [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxCreditCarryforwardAmount', window );">Tax Credit Carryforward, Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">949,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">949,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember', window );">Domestic Tax Authority [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Operating Loss Carryforwards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 70,900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 70,900,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax assets as a result of remeasurement due to the change in the enacted tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxCreditCarryforwardAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the tax credit carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxCreditCarryforwardAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the valuation allowance for a specified deferred tax asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValuationAllowanceByDeferredTaxAssetAxis=govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowanceByDeferredTaxAssetAxis=govx_DeferredTaxAssetsFromRemeasurementDueToChangesInEnactedTaxRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxCreditCarryforwardAxis=us-gaap_ResearchMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxCreditCarryforwardAxis=us-gaap_ResearchMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=us-gaap_DomesticCountryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811623472">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 11 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGrossAbstract', window );"><strong>Deferred tax assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards', window );">Net operating loss carryforward</a></td>
<td class="nump">$ 16,273,259<span></span>
</td>
<td class="nump">$ 24,689,298<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch', window );">Research and development tax credit carryforward</a></td>
<td class="nump">949,340<span></span>
</td>
<td class="nump">892,231<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost', window );">Stock-based compensation expense</a></td>
<td class="nump">1,709,867<span></span>
</td>
<td class="nump">2,748,899<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_DeferredTaxAssetsAccruedSalariesAndDirectorsFees', window );">Accrued salaries and directors&#8217; fees</a></td>
<td class="nump">185,961<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="nump">5,532<span></span>
</td>
<td class="nump">1,331<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Total deferred tax assets</a></td>
<td class="nump">19,123,959<span></span>
</td>
<td class="nump">28,331,759<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_DeferredTaxAssetsBeforeValuationAllowanceNet', window );">Net deferred tax assets</a></td>
<td class="nump">19,123,959<span></span>
</td>
<td class="nump">28,331,759<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Valuation allowance</a></td>
<td class="num">(19,123,959)<span></span>
</td>
<td class="num">(28,331,759)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNet', window );">Net deferred tax asset after reduction for valuation allowance</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_DeferredTaxAssetsAccruedSalariesAndDirectorsFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from accrued salaries and directors' fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_DeferredTaxAssetsAccruedSalariesAndDirectorsFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_DeferredTaxAssetsBeforeValuationAllowanceNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before allocation of valuation allowances and after deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_DeferredTaxAssetsBeforeValuationAllowanceNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax liability attributable to taxable temporary differences.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(15)(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(26)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(26)(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGrossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGrossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwards</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from property, plant, and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible research tax credit carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxCreditCarryforwardsResearch</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=96869850&amp;loc=d3e28680-109314<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
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<td>xbrli:monetaryItemType</td>
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<td>credit</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6812223568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Income Taxes - Reconciliation of Income Tax Benefit (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1">198 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate', window );">U.S. federal statutory rate applied to pretax loss</a></td>
<td class="num">$ (737,855)<span></span>
</td>
<td class="num">$ (1,112,378)<span></span>
</td>
<td class="num">$ (936,936)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpense', window );">Permanent differences</a></td>
<td class="nump">436<span></span>
</td>
<td class="nump">2,012<span></span>
</td>
<td class="nump">2,914<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationTaxCreditsResearch', window );">Research and development credits</a></td>
<td class="nump">57,109<span></span>
</td>
<td class="nump">59,087<span></span>
</td>
<td class="nump">67,901<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate', window );">Impact of Tax Act</a></td>
<td class="nump">10,086,795<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Change in valuation allowance</a></td>
<td class="num">(9,406,485)<span></span>
</td>
<td class="nump">1,051,279<span></span>
</td>
<td class="nump">866,121<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Reported income tax expense</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to increase (decrease) in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32123-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td>duration</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations, attributable to increase (decrease) in the income tax rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32059-109318<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationChangeInEnactedTaxRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationTaxCreditsResearch">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to research tax credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationTaxCreditsResearch</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823401824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Subsequent Events (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 05, 2018</div></th>
<th class="th"><div>Feb. 28, 2018</div></th>
<th class="th"><div>Feb. 28, 2018</div></th>
<th class="th"><div>Feb. 28, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Conversion of Stock, Shares Converted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">298<span></span>
</td>
<td class="nump">123<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Conversion of Stock, Shares Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,862,000<span></span>
</td>
<td class="nump">1,400,000<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1', window );">Class of Warrant or Right, Exercise Price of Warrants or Rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 0.07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock', window );">Proceeds from Issuance of Convertible Preferred Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 980,000<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 2,679,810<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_StockIssuedDuringPeriodSharesWarrantsExercised', window );">Stock Issued During Period, Shares, Warrants Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event [Member] | Series E Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock', window );">Proceeds from Issuance of Convertible Preferred Stock</a></td>
<td class="nump">$ 600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ConvertiblePreferredStockConversionPricePerShare', window );">Convertible Preferred Stock, Conversion Price Per Share</a></td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ConvertiblePreferredStockTotalConversionShares', window );">Convertible Preferred Stock, Total Conversion Shares</a></td>
<td class="nump">7,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event [Member] | Warrants in Connection with Senior Promissory Note [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_govx_ClassOfWarrantOrRightTerm', window );">Class of Warrant or Right, Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">178,571<span></span>
</td>
<td class="nump">178,571<span></span>
</td>
<td class="nump">178,571<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1', window );">Class of Warrant or Right, Exercise Price of Warrants or Rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.042<span></span>
</td>
<td class="nump">$ 0.042<span></span>
</td>
<td class="nump">$ 0.042<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event [Member] | Senior Notes [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentTerm', window );">Debt Instrument, Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Proceeds from Issuance of Long-term Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 50,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Debt Instrument, Interest Rate, Stated Percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesDConvertiblePreferredStockToCommonStockMember', window );">Conversion From Series D Convertible Preferred Stock To Common Stock [Member] | Subsequent Event [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesConverted1', window );">Conversion of Stock, Shares Converted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockSharesIssued1', window );">Conversion of Stock, Shares Issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ClassOfWarrantOrRightTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of warrant, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ClassOfWarrantOrRightTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ConvertiblePreferredStockConversionPricePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The conversion price per share of convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ConvertiblePreferredStockConversionPricePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_ConvertiblePreferredStockTotalConversionShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total conversion shares of convertible preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_ConvertiblePreferredStockTotalConversionShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_govx_StockIssuedDuringPeriodSharesWarrantsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new shares of common stock issued during the period upon exercise of warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">govx_StockIssuedDuringPeriodSharesWarrantsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>govx_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price per share or per unit of warrants or rights outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesConverted1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesConverted1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockSharesIssued1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of new shares issued in the conversion of stock in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockSharesIssued1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from issuance of preferred stocks identified as being convertible into another form of financial instrument, typically the entity's common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfConvertiblePreferredStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=98514028&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=govx_SeriesEConvertiblePreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=govx_SeriesEConvertiblePreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightAxis=govx_WarrantsInConnectionWithSeniorPromissoryNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfWarrantOrRightAxis=govx_WarrantsInConnectionWithSeniorPromissoryNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_SeniorNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesDConvertiblePreferredStockToCommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockByUniqueDescriptionAxis=govx_ConversionFromSeriesDConvertiblePreferredStockToCommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6812991616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Schedule II - Valuation and Qualifying Accounts (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowancesAndReservesBalance', window );">Balance at Beginning Of Period</a></td>
<td class="nump">$ 28,331,759<span></span>
</td>
<td class="nump">$ 27,131,034<span></span>
</td>
<td class="nump">$ 26,021,943<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense', window );">Additions Charged to Costs and Expenses</a></td>
<td class="nump">9,207,800<span></span>
</td>
<td class="nump">1,200,725<span></span>
</td>
<td class="nump">1,109,094<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowancesAndReservesChargedToOtherAccounts', window );">Additions Charged to Other Accounts</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowancesAndReservesDeductions', window );">Deductions</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowancesAndReservesBalance', window );">Balance at End Of Period</a></td>
<td class="nump">$ 19,123,959<span></span>
</td>
<td class="nump">$ 28,331,759<span></span>
</td>
<td class="nump">$ 27,131,034<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValuationAllowancesAndReservesBalance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-09)<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24092-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowancesAndReservesBalance</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in the allowances and reserves, which consist of the valuation and qualifying accounts that are either netted against the cost of an asset or that reflect a liability established to represent expected future costs, from charges to costs and expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-09)<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24092-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in the allowances and reserves, which consist of the valuation and qualifying accounts that are either netted against the cost of an asset or that reflect a liability established to represent expected future costs, from charges to accounts other than costs and expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-09)<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24092-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowancesAndReservesChargedToOtherAccounts</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SX 210.12-09)<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24092-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
