Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Accumulated Deficit [Member]
BALANCE at Dec. 31, 2013 $ 1,699,550 $ 3 $ 52,759,115 $ (51,059,568)
BALANCE (in shares) at Dec. 31, 2013   286,974    
Issuance of common stock and warrants, net of issuance costs 11,877,143 $ 4 11,877,139 0
Issuance of common stock and warrants, net of issuance costs (in shares)   358,333    
Fair value of warrants issued in connection with sale of common stock and recorded as a derivative liability, net of loss on issuance (4,102,709) $ 0 (4,102,709) 0
Issuance of common stock and warrants to extinguish convertible debentures and accrued interest 4,172,435 $ 1 4,172,434 0
Issuance of common stock and warrants to extinguish convertible debentures and accrued interest (in shares)   110,969    
Stock-based compensation 850,350 $ 0 850,350 0
Relative fair value of warrants issued with debentures 254,024 0 254,024 0
Cash paid in lieu of fractional shares in reverse stock split (1,158) 0 (1,158) 0
Net loss (8,052,102) 0 0 (8,052,102)
BALANCE at Dec. 31, 2014 6,697,533 $ 8 65,809,195 (59,111,670)
BALANCE (in shares) at Dec. 31, 2014   756,276    
Issuance of common stock and warrants, net of issuance costs 2,868,000 $ 1 2,867,999 0
Issuance of common stock and warrants, net of issuance costs (in shares)   101,727    
Fair value of warrants issued in connection with sale of common stock and recorded as a derivative liability, net of loss on issuance (2,868,000)   (2,868,000)  
Stock-based compensation 447,300 $ 0 447,300 0
Cashless option exercise $ 0 $ 0 0 0
Cashless option exercise (in Shares) 833 137    
Net loss $ (5,495,030) $ 0 0 (5,495,030)
BALANCE at Dec. 31, 2015 $ 1,649,803 $ 9 $ 66,256,494 $ (64,606,700)
BALANCE (in shares) at Dec. 31, 2015   858,140