Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
ASSETS    
Cash and cash equivalents $ 13,840,930 $ 21,678,734
Prepaid expenses 244,667 165,927
Other current assets 170,883 166,887
Total Current Assets 14,256,480 22,011,548
Property and equipment, net 3,510,355 2,119,027
Intangible assets, net 592,876 602,193
Total Assets 18,359,711 24,732,768
LIABILITIES    
Accounts payable 431,734 281,179
Accrued liabilities 1,759,161 1,439,275
Management and directors' fees payable 54,994 81,057
Current portion of long-term debt 408,307 30,655
Current portion of capital lease liabilities 136,307 119,016
Deferred grant income 45,510
Current portion of grant repayable 41,356 36,804
Total Current Liabilities 2,831,859 2,033,496
Long-term debt 1,050,536 432,027
Capital lease liabilities 897,303 889,810
Grant repayable 185,991 202,325
Total Liabilities 4,965,689 3,557,658
STOCKHOLDERS' EQUITY    
Common Stock Authorized: 100,000,000 shares of common stock, at $0.001 par value Issued and outstanding: 26,518,700 shares and 26,126,049 shares, respectively 26,519 26,126
Additional paid-in capital 65,151,681 62,287,252
Accumulated other comprehensive loss (132,882) (193,297)
Accumulated Deficit (51,651,296) (40,944,971)
Total Stockholders' Equity 13,394,022 21,175,110
Total Liabilities and Stockholders' Equity $ 18,359,711 $ 24,732,768