|
CONSOLIDATED BALANCE SHEETS (USD $)
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| ASSETS |
|
|
| Cash |
$ 475,019 |
$ 1,655,122 |
| Money market funds |
6,135 |
6,134 |
| Advances on research and development contract services |
33,880 |
51,575 |
| Prepaid expenses and other current assets |
43,006 |
40,179 |
| Total current assets |
558,040 |
1,753,010 |
| Total assets |
558,040 |
1,753,010 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
| Accounts payable and accrued expenses |
107,774 |
80,416 |
| Research and development contract liabilities, including $34,398 and $9,679 to a related party at December 31, 2013 and 2012, respectively |
47,283 |
14,019 |
| Liquidated damages payable under registration rights agreement |
74,000 |
74,000 |
| Due to stockholder |
92,717 |
92,717 |
| Total current liabilities |
321,774 |
261,152 |
| Commitments and contingencies |
|
|
| Stockholders' equity: |
|
|
| Preferred stock, $0.0001 par value; authorized - 10,000,000 shares; issued - none |
0 |
0 |
| Common stock, $0.0001 par value; authorized - 100,000,000 shares; issued and outstanding - 41,583,097 shares |
4,158 |
4,158 |
| Additional paid-in capital |
13,184,081 |
13,064,831 |
| Deficit accumulated during the development stage |
(12,951,973) |
(11,577,131) |
| Total stockholders' equity |
236,266 |
1,491,858 |
| Total liabilities and stockholders' equity |
$ 558,040 |
$ 1,753,010 |