Annual report pursuant to Section 13 and 15(d)

Unaudited Quarterly Financial Information

v3.6.0.2
Unaudited Quarterly Financial Information
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information [Text Block]
Note 11 – Unaudited Quarterly Financial Information
 
Summarized quarterly information for the years ended December 31, 2016 and 2015 is listed below:
 
 
 
For the quarter ended
 
 
 
March 31
 
 
June 30
 
 
September 30
 
 
December 31
 
2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
136,364
 
 
$
181,818
 
 
$
1,003,973
 
 
$
129,786
 
Operating expenses
 
$
10,936,772
 
 
$
10,468,990
 
 
$
11,131,994
 
 
$
14,744,905
 
Net loss
 
$
(10,796,542)
 
 
$
(10,284,555)
 
 
$
(10,125,063)
 
 
$
(14,611,234)
 
Loss per share, basic and diluted
 
$
(0.66)
 
 
$
(0.62)
 
 
$
(0.57)
 
 
$
(0.75)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue
 
$
200,000
 
 
$
225,000
 
 
$
2,075,000
 
 
$
-
 
Operating expenses
 
$
7,131,600
 
 
$
6,374,970
 
 
$
7,683,317
 
 
$
8,887,452
 
Net loss
 
$
(6,925,279)
 
 
$
(6,146,582)
 
 
$
(5,605,661)
 
 
$
(8,884,180)
 
Loss per share, basic and diluted
 
$
(0.54)
 
 
$
(0.48)
 
 
$
(0.43)
 
 
$
(0.61)