Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 17,007,462 $ 5,916,006
Prepaid expenses 257,783 152,926
Other current assets 164,310 153,723
Total Current Assets 17,429,555 6,222,655
Property and equipment, net 763,905 783,805
Intangible assets, net 706,795 705,381
Total Assets 18,900,255 7,711,841
LIABILITIES    
Accounts payable and accrued liabilities 1,011,977 712,160
Management and directors' fees payable 81,274 71,893
Current portion of capital lease liability 85,223 81,338
Deferred grant income 228,397 219,360
Current portion of grant repayable 36,337 34,899
Total Current Liabilities 1,443,208 1,119,650
Capital lease liability, net of current portion 290,709 299,863
Grant repayable, net of current portion 258,226 248,009
Total Liabilities $ 1,992,143 $ 1,667,522
STOCKHOLDERS' EQUITY    
Preferred Stock Authorized: 1,000,000 shares, 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: 23,397,887 shares and 18,763,272 shares respectively $ 23,398 $ 18,763
Additional paid-in capital 48,482,826 35,149,420
Accumulated other comprehensive loss (65,791) (84,171)
Accumulated Deficit (31,532,321) (29,039,693)
Total Stockholders' Equity 16,908,112 6,044,319
Total Liabilities and Stockholders' Equity $ 18,900,255 $ 7,711,841