Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 2014
Summary of Significant Accounting Policies [Abstract]  
Schedule of Short-Term Investments
   
September 30, 2014
 
   
Amortized cost
   
Gross unrealized gains
   
Gross unrealized losses
   
Estimated fair value
 
Certificates of deposit
  $ 2,285,618     $ 1,119     $ -     $ 2,286,737  
Municipal bonds
    1,109,019       -       (4,220 )     1,104,799  
Corporate fixed income bonds
    5,842,687       87,397       -       5,930,084  
    $ 9,237,324     $ 88,516     $ (4,220 )   $ 9,321,620  
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:

Financial Instrument
 
Level
   
September 30,
2014
   
December 31,
2013
 
Warrant liability
    3     $ 106,236     $ 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
   
366,000
     
-
 
     
728,500
     
131,250