Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 3,307,992 $ 11,742,349
Prepaid expenses and other current assets 105,059 360,307
Restricted cash, current portion   58,333
Total current assets 3,413,051 12,160,989
Restricted cash, net of current portion 117,165 117,165
Deferred financing costs 1,879,791  
Property and equipment, net 41,364 38,740
Total assets 5,451,371 12,316,894
Current liabilities:    
Current portion of long term debt, net of discount 3,128,785 1,905,879
Accounts payable 1,951,556 931,139
Accrued expenses and other current liabilities 1,519,819 975,114
Warrant liability 54,001 69,684
Investor rights obligation   1,112,000
Total current liabilities 6,654,161 4,993,816
Long term debt, net of current portion and debt discount 3,195,467 5,308,211
Other long term liability 107,193  
Total liabilities 9,956,821 10,302,027
Convertible preferred stock:    
Total convertible preferred stock 28,345,531 28,345,531
Stockholders (deficit) equity:    
Common Stock, $0.001 par value; 230,000,000 shares authorized at December 31, 2014 and 8,214,285 shares authorized at September 30, 2015; 649,721 shares issued and outstanding at December 31, 2014 and September 30, 2015 650 650
Additional paid in capital 17,063,289 16,742,063
Accumulated deficit (49,914,920) (43,073,377)
Total stockholders' deficit (32,850,981) (26,330,664)
Total liabilities, convertible preferred stock and stockholders' deficit 5,451,371 12,316,894
Series A convertible preferred stock    
Convertible preferred stock:    
Total convertible preferred stock 10,462,885 10,462,885
Series A-1 convertible preferred stock    
Convertible preferred stock:    
Total convertible preferred stock 3,389,331 3,389,331
Series B convertible preferred stock    
Convertible preferred stock:    
Total convertible preferred stock $ 14,493,315 $ 14,493,315