Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.1.9
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2014
Summary of Significant Accounting Policies [Abstract]  
Schedule of Short-Term Investments

December 31, 2014

 

Amortized cost

   

Gross unrealized gains

   

Gross unrealized losses

   

Estimated fair value

 

Certificates of deposit

$ 1,099,775     $ 1,168     $ -     $ 1,100,943  

Municipal bonds

  536,046       -       (6,572 )     529,474  

Corporate fixed income bonds

    3,563,057       808,948       -       4,372,005  
    $ 5,198,878     $ 810,116     $ (6,572 )   $ 6,002,422  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents a summary of fair value measurements for certain financial instruments measured at fair value on a recurring basis:

 

   

December 31,

 

Financial Instrument

Level

   

2014

   

2013

 

Warrant liability

3     $ 93,789     $ 85,221  
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share


 

2014

 

 

2013

 

Warrants to purchase common stock

 

 

362,500

 

 

 

131,250

 

Stock options

 

 

346,000

 

 

 

-

 

Unvested restricted stock

 

 

200,001

 

 

 

-

 

 

 

 

908,501

 

 

 

131,250