Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 21,678,734 $ 5,916,006
Prepaid expenses 165,927 152,926
Other current assets 166,887 153,723
Total Current Assets 22,011,548 6,222,655
Property and equipment, net 2,119,027 783,805
Intangible assets, net 602,193 705,381
Total Assets 24,732,768 7,711,841
LIABILITIES    
Accounts payable 281,179 323,513
Accrued liabilities 1,439,275 388,647
Management and directors' fees payable 81,057 71,893
Current portion of long-term debt 30,655
Current portion of capital lease liabilities 119,016 81,338
Deferred grant income 45,510 219,360
Current portion of grant repayable 36,804 34,899
Total Current Liabilities 2,033,496 1,119,650
Long-term debt 432,027
Capital lease liabilities 889,810 299,863
Grant repayable 202,325 248,009
Total Liabilities 3,557,658 1,667,522
STOCKHOLDERS' EQUITY    
Common Stock Authorized: 100,000,000 shares, at $0.001 par value Issued and outstanding: 26,126,049 shares and 18,763,272 shares respectively 26,126 18,763
Additional paid-in capital 62,287,252 35,149,420
Accumulated other comprehensive loss (193,297) (84,171)
Accumulated Deficit (40,944,971) (29,039,693)
Total Stockholders' Equity 21,175,110 6,044,319
Total Liabilities and Stockholders' Equity $ 24,732,768 $ 7,711,841