Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 14,500,294 $ 5,916,006
Prepaid expenses 211,106 152,926
Other current assets 221,630 153,723
Total Current Assets 14,933,030 6,222,655
Property and equipment, net 757,645 783,805
Intangible assets, net 672,378 705,381
Total Assets 16,363,053 7,711,841
LIABILITIES    
Accounts payable and accrued liabilities 1,156,512 712,160
Management and directors' fees payable 49,761 71,893
Current portion of capital lease liability 83,861 81,338
Deferred grant income 223,338 219,360
Current portion of grant repayable 38,863 34,899
Total Current Liabilities 1,552,335 1,119,650
Capital lease liability, net of current portion 263,107 299,863
Grant repayable, net of current portion 213,644 248,009
Total Liabilities 2,029,086 1,667,522
STOCKHOLDERS' 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: 23,521,219 shares and 18,763,272 shares, respectively 23,521 18,763
Additional paid-in capital 48,925,349 35,149,420
Accumulated other comprehensive loss (133,216) (84,171)
Accumulated Deficit (34,481,687) (29,039,693)
Total Stockholders' Equity 14,333,967 6,044,319
Total Liabilities and Stockholders' Equity $ 16,363,053 $ 7,711,841