Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Balance Sheets

v3.3.1.900
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 2,501,000 $ 5,803,000
Prepaid expenses and other current assets 138,000 105,000
Investment held-to-maturity 3,006,000 8,000,000
TOTAL CURRENT ASSETS 5,645,000 13,908,000
PROPERTY AND EQUIPMENT    
Fixed assets 1,664,000 1,249,000
Less: Accumulated depreciation and amortization (672,000) (208,000)
PROPERTY AND EQUIPMENT, NET 992,000 1,041,000
NONCURRENT ASSETS    
Patents and domain names, net 815,000 500,000
Restricted Cash 100,000 0
Other assets 15,000 15,000
TOTAL NONCURRENT ASSETS 930,000 515,000
TOTAL ASSETS 7,567,000 15,464,000
CURRENT LIABILITIES    
Accounts payable 518,000 223,000
Accrued expenses 60,000 146,000
Accrued salaries and payroll related expenses 467,000 315,000
Deferred rent, current portion 34,000 36,000
TOTAL CURRENT LIABILITIES 1,079,000 720,000
LONG-TERM LIABILITIES    
Deferred rent 20,000 54,000
TOTAL LIABILITIES $ 1,099,000 $ 774,000
Commitments and contingencies (Note 9)
STOCKHOLDERS’ EQUITY    
Common stock, $0.001 par value, 47,000,000 authorized and 6,931,984 outstanding as of December 31, 2014, and 7,241,949 outstanding as of December 31, 2015 $ 7,000 $ 7,000
Preferred stock, $0.001 par value, 3,000,000 authorized and none outstanding as of December 31, 2014 and 2015 0 0
Additional paid-in capital 37,373,000 35,880,000
Accumulated deficit (30,912,000) (21,197,000)
TOTAL STOCKHOLDERS’ EQUITY 6,468,000 14,690,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 7,567,000 $ 15,464,000