Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
ASSETS    
Cash $ 2,419,667 $ 888,704
Prepaid expenses 133,848 82,135
Other current assets 117,409 34,612
Total Current Assets 2,670,924 1,005,451
Property and equipment, net 315,777 63,265
Intangible assets, net 862,753 1,002,043
Total Assets 3,849,454 2,070,759
LIABILITIES    
Accounts payable and accrued liabilities 693,646 518,086
Management and directors' fees payable 240,978 222,294
Derivative liability 6,446,068   
Deferred grant income 199,862 216,894
Total Current Liabilities 7,580,554 957,274
Grant repayable 367,112 432,811
Total Liabilities 7,947,666 1,390,085
STOCKHOLDERS' (DEFICIT) EQUITY    
Preferred Stock Authorized: 1,000,000 shares of preferred stock, at $0.001 par value Issued and outstanding: Nil shares and Nil shares, respectively      
Common Stock Authorized: 100,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 14,308,960 shares and 11,679,757 shares, respectively 14,309 11,680
Additional paid-in capital 14,548,494 12,024,711
Accumulated other comprehensive loss (93,526) (59,795)
Accumulated Deficit (18,567,489) (11,295,922)
Total Stockholders' (Deficit) Equity (4,098,212) 680,674
Total Liabilities and Stockholders' (Deficit) Equity $ 3,849,454 $ 2,070,759