CONDENSED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2015 |
Jun. 30, 2014 |
Jun. 30, 2015 |
Jun. 30, 2014 |
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| Revenue: | ||||
| Revenue | $ 225,000 | $ 0 | $ 425,000 | $ 0 |
| Operating expenses: | ||||
| Research and development | 3,779,852 | 1,556,493 | 8,055,416 | 2,485,706 |
| General and administrative | 1,910,702 | 1,133,101 | 3,722,844 | 1,802,390 |
| Marketing | 684,416 | 805,429 | 1,728,310 | 1,227,460 |
| Total operating expenses | 6,374,970 | 3,495,023 | 13,506,570 | 5,515,556 |
| Loss from operations | (6,149,970) | (3,495,023) | (13,081,570) | (5,515,556) |
| Other income (expense): | ||||
| Change in fair value of derivative liabilities | 0 | 1,725,823 | 0 | (26,265,177) |
| Interest income (expense), net | 3,388 | (36,547) | 9,709 | (1,034,737) |
| Gain on debt extinguishment | 0 | 2,084,368 | 0 | 2,084,368 |
| Total | 3,388 | 3,773,644 | 9,709 | (25,215,546) |
| Net (loss) income | $ (6,146,582) | $ 278,621 | $ (13,071,861) | $ (30,731,102) |
| Basic net (loss) income per common share | $ (0.48) | $ 0.03 | $ (1.02) | $ (5.07) |
| Diluted net (loss) income per common share | $ (0.48) | $ 0.03 | $ (1.02) | $ (5.07) |
| Weighted average shares outstanding, basic | 12,914,768 | 9,370,172 | 12,851,677 | 6,057,598 |
| Weighted average shares outstanding, diluted | 12,914,768 | 10,773,670 | 12,851,677 | 6,057,598 |
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- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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