Annual report pursuant to Section 13 and 15(d)

STATEMENTS OF OPERATIONS

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STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenue:      
Revenue $ 2,500,000 $ 0 $ 0
Operating expenses:      
Derivative instrument issuance 0 0 887,062
Research and development 18,825,041 12,511,647 2,109,890
Sales and marketing 3,221,303 2,803,359 233,622
General and administrative 8,030,995 5,059,703 1,204,896
Total operating expenses 30,077,339 20,374,709 4,435,470
Loss from operations (27,577,339) (20,374,709) (4,435,470)
Other income (expenses):      
Change in fair value of derivative liabilities 0 (26,265,177) (177,000)
Interest income (expense), net 15,637 (1,024,774) (908,611)
Loss on retirement of fixed assets 0 (22,818) 0
Gain on debt extinguishment 0 2,084,368 0
Total 15,637 (25,228,401) (1,085,611)
Net loss $ (27,561,702) $ (45,603,110) $ (5,521,081)
Basic and diluted loss per common share $ (2.07) $ (5.75) $ (2.11)
Weighted average shares outstanding, basic and diluted 13,303,715 7,933,791 2,617,022