Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
ASSETS    
Cash and cash equivalents $ 10,116,263 $ 21,678,734
Prepaid expenses 248,661 165,927
Other current assets 202,295 166,887
Total Current Assets 10,567,219 22,011,548
Property and equipment, net 3,480,782 2,119,027
Intangible assets, net 576,397 602,193
Total Assets 14,624,398 24,732,768
LIABILITIES    
Accounts payable 351,735 281,179
Accrued liabilities 1,278,428 1,439,275
Management and directors' fees payable 35,397 81,057
Current portion of long-term debt 443,908 30,655
Current portion of capital lease liabilities 139,084 119,016
Deferred grant income 45,510
Current portion of grant repayable 41,930 36,804
Total Current Liabilities 2,290,482 2,033,496
Long-term debt 1,312,785 432,027
Capital lease liabilities 874,684 889,810
Grant repayable 188,579 202,325
Total Liabilities 4,666,530 3,557,658
STOCKHOLDERS' EQUITY    
Common Stock Authorized: 100,000,000 shares, at $0.001 par value Issued and outstanding: 26,519,394 shares and 26,126,049 shares, respectively 26,519 26,126
Additional paid-in capital 65,774,870 62,287,252
Accumulated other comprehensive loss (129,343) (193,297)
Accumulated Deficit (55,714,178) (40,944,971)
Total Stockholders' Equity 9,957,868 21,175,110
Total Liabilities and Stockholders' Equity $ 14,624,398 $ 24,732,768