Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($)
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Total
Beginning Balance at Dec. 31, 2013 $ 173,395 $ 72,369,016 $ (72,405,778) $ 136,633
Beginning Balance (in shares) at Dec. 31, 2013 17,339,561      
Increase (Decrease) in Stockholders' Equity        
Stock-based compensation   956,449   956,449
Exercise of stock options $ 1,174 134,666   135,840
Exercise of stock options (in shares) 117,402      
Issuance of common shares $ 20,319 5,215,555   5,235,874
Issuance of common shares (in shares) 2,031,851      
Net loss     (17,710,476) (17,710,476)
Ending Balance at Dec. 31, 2014 $ 194,888 78,675,686 (90,116,254) $ (11,245,680)
Ending Balance (in shares) at Dec. 31, 2014 19,488,814     19,488,814
Increase (Decrease) in Stockholders' Equity        
Stock-based compensation   1,316,509   $ 1,316,509
Exercise of stock options $ 1,975 510,826   512,801
Exercise of stock options (in shares) 197,466      
Issuance of common shares $ 102,983 30,865,403   30,968,386
Issuance of common shares (in shares) 10,298,311      
Net loss     (13,356,425) (13,356,425)
Ending Balance at Dec. 31, 2015 $ 299,846 $ 111,368,424 $ (103,472,679) $ 8,195,591
Ending Balance (in shares) at Dec. 31, 2015 29,984,591     29,984,591