Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS (unaudited)

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CONDENSED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Operating expenses:        
Research and development $ 300,783 $ 144,231 $ 931,360 $ 366,275
General and administrative 2,170,698 3,796,263 9,016,631 4,882,330
Depreciation 2,607 3,893 7,948 12,462
Total operating expenses 2,474,088 3,944,387 9,955,939 5,261,067
Loss from operations (2,474,088) (3,944,387) (9,955,939) (5,261,067)
Other income (expense):        
Gain on change in fair value of derivatives 2,851,755 0 3,050,318 0
Interest income (expense) 0 (862) (1,298) (9,918)
Financing costs 0 (14,754) (529,704) (593,770)
Total other income (expense) 2,851,755 (15,616) 2,519,316 (603,688)
Income (loss) before income taxes 377,667 (3,960,003) (7,436,623) (5,864,755)
Income taxes (benefit) 0 0 0 0
Net income (loss) 377,667 (3,960,003) (7,436,623) (5,864,755)
Preferred stock dividend (53,048) (63,087) (244,516) (230,334)
NET INCOME (LOSS) AVAILABLE TO COMMON STOCKHOLDERS $ 324,619 $ (4,023,090) $ (7,681,139) $ (6,095,089)
Net income (loss) per common share, basic and diluted (in Dollars per share) $ 0.02 $ (0.39) $ (0.57) $ (0.66)
Weighted average number of common shares outstanding, basic and diluted (in Shares) 14,849,127 10,218,160 13,565,453 9,167,441