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Actinium Pharmaceuticals, Inc. – ‘10-K’ for 12/31/15 – ‘EX-101.INS’

On:  Friday, 3/11/16, at 5:08pm ET   ·   For:  12/31/15   ·   Accession #:  1213900-16-11534   ·   File #:  1-36374

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/11/16  Actinium Pharmaceuticals, Inc.    10-K       12/31/15   64:5.6M                                   Edgar Agents LLC/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    937K 
 2: EX-10.56    Third Amendment to the 2013 Amended and Restated    HTML     21K 
                Stock Plan, Effective as of December 22, 2015                    
 3: EX-10.57    Office Space License Agreement, Dated March 19,     HTML     73K 
                2016, by and Between Actinium Pharmaceuticals,                   
                Inc. and Relmada Therapeutics, Inc.                              
 4: EX-21.1     List of Subsidiaries                                HTML     16K 
 5: EX-23.1     Consent of Gbh CPAs, Pc.                            HTML     18K 
 6: EX-31.1     Certification -- §302 - SOA'02                      HTML     23K 
 7: EX-31.2     Certification -- §302 - SOA'02                      HTML     22K 
 8: EX-32.1     Certification -- §906 - SOA'02                      HTML     18K 
 9: EX-32.2     Certification -- §906 - SOA'02                      HTML     18K 
16: R1          Document and Entity Information                     HTML     47K 
17: R2          Consolidated Balance Sheets                         HTML     80K 
18: R3          Consolidated Balance Sheets (Parenthetical)         HTML     39K 
19: R4          Consolidated Statements of Operations               HTML     55K 
20: R5          Consolidated Statement of Changes in Stockholders'  HTML     64K 
                Equity (Deficit)                                                 
21: R6          Consolidated Statements of Cash Flows               HTML     95K 
22: R7          Description of Business and Summary of Significant  HTML     71K 
                Accounting Policies                                              
23: R8          Related Party Transactions                          HTML     45K 
24: R9          Prepaid Expenses and Other Current Assets           HTML     30K 
25: R10         Property and Equipment                              HTML     33K 
26: R11         Note Payable                                        HTML     26K 
27: R12         Derivatives                                         HTML     52K 
28: R13         Commitments and Contingencies                       HTML     58K 
29: R14         Equity                                              HTML    140K 
30: R15         Income Taxes                                        HTML     59K 
31: R16         Subsequent Events                                   HTML     29K 
32: R17         Description of Business and Summary of Significant  HTML    100K 
                Accounting Policies (Policies)                                   
33: R18         Description of Business and Summary of Significant  HTML     36K 
                Accounting Policies (Tables)                                     
34: R19         Related Party Transactions (Tables)                 HTML     22K 
35: R20         Prepaid Expenses and Other Current Assets (Tables)  HTML     28K 
36: R21         Property and Equipment (Tables)                     HTML     25K 
37: R22         Derivatives (Tables)                                HTML     50K 
38: R23         Commitments and Contingencies (Tables)              HTML     26K 
39: R24         Equity (Tables)                                     HTML     74K 
40: R25         Income Taxes (Tables)                               HTML     53K 
41: R26         Description of Business and Summary of Significant  HTML     30K 
                Accounting Policies (Details)                                    
42: R27         Description of Business and Summary of Significant  HTML     28K 
                Accounting Policies (Details 1)                                  
43: R28         Description of Business and Summary of Significant  HTML     42K 
                Accounting Policies (Details Textual)                            
44: R29         Related Party Transactions (Details)                HTML     25K 
45: R30         Related Party Transactions (Details Textual)        HTML     91K 
46: R31         Prepaid Expenses and Other Current Assets           HTML     29K 
                (Details)                                                        
47: R32         Property and Equipment (Details)                    HTML     33K 
48: R33         Property and Equipment (Details Textual)            HTML     23K 
49: R34         Note Payable (Details)                              HTML     33K 
50: R35         Derivatives (Details)                               HTML     30K 
51: R36         Derivatives (Details 1)                             HTML     38K 
52: R37         Derivatives (Details Textual)                       HTML     32K 
53: R38         Commitments and Contingencies (Details)             HTML     34K 
54: R39         Commitments and Contingencies (Details 1)           HTML     21K 
55: R40         Commitments and Contingencies (Details Textual)     HTML    114K 
56: R41         Equity (Details)                                    HTML     76K 
57: R42         Equity (Details Textual)                            HTML    275K 
58: R43         Income Taxes (Details)                              HTML     26K 
59: R44         Income Taxes (Details 1)                            HTML     55K 
60: R45         Income Taxes (Details Textual)                      HTML     26K 
61: R46         Subsequent Events (Details)                         HTML     47K 
63: XML         IDEA XML File -- Filing Summary                      XML    106K 
62: EXCEL       IDEA Workbook of Financial Reports                  XLSX     62K 
10: EX-101.INS  XBRL Instance -- atnm-20151231                       XML   1.32M 
12: EX-101.CAL  XBRL Calculations -- atnm-20151231_cal               XML     83K 
13: EX-101.DEF  XBRL Definitions -- atnm-20151231_def                XML    476K 
14: EX-101.LAB  XBRL Labels -- atnm-20151231_lab                     XML   1.17M 
15: EX-101.PRE  XBRL Presentations -- atnm-20151231_pre              XML    750K 
11: EX-101.SCH  XBRL Schema -- atnm-20151231                         XSD    179K 
64: ZIP         XBRL Zipped Folder -- 0001213900-16-011534-xbrl      Zip    125K

‘EX-101.INS’   —   XBRL Instance — atnm-20151231

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<p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 1 – Description of Business and Summary of Significant Accounting Policies</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Nature of Business -</b> Actinium Pharmaceuticals, Inc. (the “Company” or “Actinium”) is a biotechnology company committed to developing breakthrough therapies for life threatening diseases using its alpha particle immunotherapy (“APIT”) platform and other related and similar technologies. Actinium, together with its wholly owned subsidiary, MedActinium, Inc., is hereinafter referred to collectively as “Actinium” or the “Company”. We have initiated collaborative efforts with large institutions to establish the proof of concept of APIT and have supported one Phase 1/2 clinical trial and one Phase 1 clinical trial at Memorial Sloan-Kettering Cancer Center (“MSKCC”) under an MSKCC Physician IND Application. In 2012, Actinium launched a multi-center corporate sponsored trial in acute myeloid leukemia patients. Actinium’s objective, through research and development, is to produce reliable cancer fighting products which utilize monoclonal antibodies linked with alpha particle emitters or other appropriate payloads to provide very potent targeted therapies. The initial clinical trials of Actinium’s compounds have been with patients having acute myeloid leukemia and it is believed that Actinium’s APIT platform will have wider applicability for different types of cancer where suitable monoclonal antibodies can be found.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On December 28, 2012, the Company entered into a transaction (the “Share Exchange”), pursuant to which the Company acquired 100% of the issued and outstanding equity securities of Actinium Pharmaceuticals, Inc. (“API”), in exchange for the issuance of approximately 99% of the issued and outstanding common stock, par value $0.001 per share, of the Company. As a result of the Share Exchange, the Company was then considered a holding company operating through API, a clinical-stage biopharmaceutical company developing certain cancer treatments.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On March 20, 2013, the Company’s subsidiary, Actinium Pharmaceuticals, Inc., changed its name to Actinium Corporation.  On April 11, 2013, the Company changed its domicile from the State of Nevada to the State of Delaware and changed its name from Cactus Ventures, Inc. to Actinium Pharmaceuticals, Inc.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On September 25, 2013, in accordance with a Certificate of Ownership Merging Actinium Corporation into the Actinium Pharmaceuticals, Inc. filed in Delaware, the Company merged (the “Merger”) into itself Actinium Corporation (a 93.7% owned subsidiary), and Actinium Corporation ceased to exist. As a result of the Merger, Actinium Corporation stock owned by the Company was cancelled and each share of Actinium Corporation not owned by the Company was exchanged for 0.333 shares of Company’s common stock.  A total of 3,970,137 shares of Actinium Corporation common stock was exchanged for 1,322,055 shares of Company common stock. </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Principles of Consolidation -</b> The consolidated financial statements include the Company’s accounts and those of the Company’s wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Use of Estimates in Financial Statement Presentation -</b> The preparation of these consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Reclassification -</b> Certain prior period amounts have been reclassified to conform to current period presentation.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Cash and Cash Equivalents -</b> The Company considers all highly liquid accounts with original maturities of three months or less to be cash equivalents. Balances held by the Company are typically in excess of FDIC insured limits. At December 31, 2015 and 2014, all of the Company’s cash was deposited in one bank. </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Property and Equipment -</b> Machinery and equipment are recorded at cost and depreciated on a straight-line basis over estimated useful lives of three years. Furniture and fixtures are recorded at cost and depreciated on a straight-line basis over estimated useful lives of three years. When assets are retired or sold, the cost and related accumulated depreciation are removed from the accounts, and any related gain or loss is reflected in operations. Repairs and maintenance expenditures are charged to operations.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 27.5pt;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b> </b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Impairment of Long-Lived Assets - </b>Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be realizable or at a minimum annually during the fourth quarter of the year. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the asset’s carrying value to determine if an impairment of such asset is necessary. The effect of any impairment would be to expense the difference between the fair value of such asset and its carrying value.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Derivatives -</b> All derivatives are recorded at fair value on the balance sheet. Fair values for securities traded in the open market and derivatives are based on quoted market prices. Where market prices are not readily available, fair values are determined using market based pricing models incorporating readily observable market data and requiring judgment and estimates.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Fair Value of Financial Instruments -</b> Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 27.5pt;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 0px 0px 0.5in; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity's own assumptions about the assumptions that market participants would use in pricing the assets or liabilities.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The following tables set forth assets and liabilities measured at fair value on a recurring and non-recurring basis by level within the fair value hierarchy as of December 31, 2015 and 2014. As required by ASC 820 “<i>Fair Value Measurements and Disclosures”</i>, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Level 1</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Level 2</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Level 3</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Total</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;">Derivative liabilities:</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 803px; padding-left: 9pt;"><font style="font-family: 'times new roman', times, serif;">At December 31, 2015</font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">2,848,902</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">2,848,902</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-left: 9pt;"><font style="font-family: 'times new roman', times, serif;">At December 31, 2014</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">6,709,911</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">6,709,911</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Income Taxes -</b> The Company uses the asset and liability method in accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and income tax carrying amounts of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company reviews deferred tax assets for a valuation allowance based upon whether it is more likely than not that the deferred tax asset will be fully realized. A valuation allowance, if necessary, is provided against deferred tax assets, based upon management’s assessment as to their realization.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Research and Development Costs –</b> Research and development costs are expensed as incurred. Research and development reimbursements and grants are recorded by the Company as a reduction of research and development costs.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b> </b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Share-Based Payments –</b> The Company estimates the fair value of each stock option award at the grant date by using the Black-Scholes option pricing model. The fair value determined represents the cost for the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As share-based compensation expense is recognized based on awards ultimately expected to vest, the Company reduces the expense for estimated forfeitures based on historical forfeiture rates. Previously recognized compensation costs may be adjusted to reflect the actual forfeiture rate for the entire award at the end of the vesting period. Excess tax benefits, if any, are recognized as an addition to paid-in capital. </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"><b>Earnings (Loss) Per Common Share –</b> Basic earnings (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the reporting period. For the years ended December 31, 2015, 2014 and 2013, the Company’s potentially dilutive shares, which include outstanding common stock options and warrants have not been included in the computation of diluted net loss per share as the result would be anti-dilutive.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-align: justify;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2015</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2014</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2013</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; font-family: 'times new roman', serif; text-align: justify;">Options</td><td style="width: 16px; font-family: 'times new roman', serif;"> </td><td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 142px; font-family: 'times new roman', serif; text-align: right;">3,971,583</td><td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 16px; font-family: 'times new roman', serif;"> </td><td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">3,013,084</td><td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 15px; font-family: 'times new roman', serif;"> </td><td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">1,985,384</td><td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-family: 'times new roman', serif; text-align: justify; padding-bottom: 1.5pt;">Warrants</td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">8,954,031</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">7,634,058</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">9,673,290</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-family: 'times new roman', serif; text-align: justify; padding-bottom: 4pt;">Total</td><td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">12,925,614</td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">10,647,142</td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">11,658,674</td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">  </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"><b>Recent Accounting Pronouncements</b> – In April 2015, the FASB issued an Accounting Standards Update that requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The guidance is effective for annual and interim reporting periods beginning after December 15, 2015, but early adoption is permitted. The Company adopted ASU 2015-03 on the consolidated financial statements in 2015.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Subsequent Events</b> – The Company’s management reviewed all material events through the date of the consolidated financial statements were issued for subsequent event disclosure consideration. See Note 10.</font></p>
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<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 2 – Related Party Transactions</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b><i>MSKCC:</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b><i> </i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On February 11, 2002, the Company entered into a License, Development and Commercialization Agreement with Sloan-Kettering Institute of Cancer Research (“SKI”), an entity related to MSKCC, a majority shareholder of the Company.  The agreement was amended in August 2006.  Pursuant to the agreement, the Company licensed certain intellectual property from SKI, including critical patents with respect to the Company’s core technology that also supports ongoing research and clinical development of related drug candidates.  MSKCC agreed, subject to certain conditions, to utilize the funds paid for certain clinical and preclinical programs and activities related to the Company’s drug development and clinical study programs, including the payment of certain costs and expenses that would otherwise have been borne by the Company.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company is obligated to make the following milestone payments:</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">Milestones</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Payments</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1379px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">(1) filing of an New Drug Application (“NDA”) or regulatory approval for each licensed product</font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">750,000</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">(2) upon the receipt of regulatory approval from the U.S. FDA for each licensed product</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1,750,000</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Under the agreement, the Company shall pay to MSKCC on a country-by-country basis a royalty of 2% of net sales of all licensed products until the later of: (1) 10 years from the first commercial sale, or (2) when the patents expire.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">For the years ended December 31, 2015, 2014 and 2013, the annual maintenance fee and third party costs incurred was $0.2 million, $0.3 million and $0.1 million, respectively. As of December 31, 2015 and 2014, the Company has a payable to MSKCC covering the annual maintenance costs, clinical trials expense and patent costs totaling $0 and $0.2 million, respectively.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">On December 21, 2015, Actinium entered into an investor rights agreement with MSKCC. Under the terms of the agreement, MSKCC has agreed to forebear from transferring or otherwise disposing of its approximately 5.7 million shares of the Company’s common stock (other than pursuant to a piggyback registration as described below) until the start of the Actimab-A Phase 2 clinical study (but, in no event until later than March 31, 2016). Thereafter MSKCC shall be permitted to sell its shares subject to a weekly volume limitation of 150,000 shares (which limit may be increased to up to 250,000 shares per week to the extent any prior weekly allotments are not fully used) and applicable law so long as MSKCC maintains at least 25% of its current shareholding in Actinium through December 31, 2016. Actinium has granted MSKCC piggyback registration rights that would be triggered in the event Actinium are to engage in a public registered offering of its shares for its own account where other shareholders are participating as selling shareholders or where such public registered offering is for the account of other selling shareholders. In addition, following December 31, 2016, Actinium has granted MSKCC unlimited Form S-3 registration rights with respect to its shares.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"> </p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b><i>Placement Agent:</i></b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">On December 9, 2013, the Company entered into an engagement agreement with a Healthcare Investment Bank (“Placement Agent”) as its placement agent for the 2013 Common Stock Offering whereby a director of the Company was the former Head of its Healthcare Investment Banking team (“the 2013 Offering”). The 2013 Offering was completed in two tranches, December 9, 2013 and January 10, 2014. The agreement entered in on December 9, 2013 included a cash fee equal to 10% of the gross proceeds raised, a non-accountable expense reimbursement equal to 2% of the gross proceeds raised and warrants to purchase shares of the Company’s Common Stock in an amount equal to 10% of the shares of common stock issued or issuable. Subsequent to the closing of the 2013 Offering, the placement agent continued to provide certain financial advisory services to the Company until three months after the Company had up-listed its securities for trading on a U.S. National Exchange for a monthly fee of $25,000. On May 28, 2014, the Company and the placement agent agreed to terminate the December 9, 2013 engagement agreement. As of December 31, 2015 and 2014, the Company owed its placement agent $25,000.</p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 36pt; text-align: justify;">For the years ended December 31, 2014 and 2013, the placement agent received a cash fee of $397,303 and $399,103, respectively, from the 2013 Offering and was issued warrants to purchase 68,976 and 69,289 shares, respectively, of the Company’s Common Stock at $9 per share for a period of 5 years.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 36pt;"> </p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin: 0px; text-align: justify;">On July 10, 2014, the Company completed another public offering pursuant to a shelf registration statement previously filed where the placement agent acted as lead manager. The placement received a cash fee of $455,108.</p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">On February 11, 2015, the Company completed a public offering that totaled 4,444,444 common shares, representing gross proceeds of approximately $20.0 million and a net amount of approximately $18.5 million after deducting the underwriting discount and the other offering expenses. The Placement Agent acted as the sole book-running manager for the offering. The offering was made pursuant to a shelf registration statement previously filed with and declared effective by the U.S. Securities and Exchange Commission. The Placement Agent received a cash fee of approximately $1.4 million.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On June 9, 2015, the Company completed a registered direct offering of $5.0 million of its common stock. Under the terms of the subscription agreements, the Company issued an aggregate of 1,923,078 shares of the Company's common stock at a purchase price of $2.60 per share. The Placement Agent acted as the sole placement agent with respect to the offering. The Placement Agent received a cash fee of approximately $0.4 million.</font></p>
</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
<atnm:PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div> </div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 3 – Prepaid Expenses and Other Current Assets</b></font></p><div> </div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; text-indent: 0.5in; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b> </b></font></p><div> </div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; text-indent: 0.5in; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Prepaid expenses and other current assets consisted of the following at December 31, 2015 and 2014:</font></p><div> </div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; text-indent: 0.5in; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><div> </div><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"></p><div> </div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;" colspan="2"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;" colspan="2"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">Security deposit</font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">11,350</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">Prepaid  insurance</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">376,906</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">368,223</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Other prepaid expenses</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">426,557</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">320,278</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">Total</font></td><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">803,463</font></td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-bottom: 4pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">699,851</font></td></tr></table>
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<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 4 – Property and Equipment</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Property and equipment consisted of the following at December 31, 2015 and 2014:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;" colspan="2"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;" colspan="2"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">Lives</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 800.8px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">Lab equipment</font></td><td style="width: 12.8px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 137.6px; text-align: center;"><font style="font-family: 'times new roman', times, serif;">3 years</font></td><td style="width: 12.8px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 12.8px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 112.8px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">116,070</font></td><td style="width: 12.8px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 12px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 12px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 112px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">108,713</font></td><td style="width: 12px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">Office equipment</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;"><font style="font-family: 'times new roman', times, serif;">3 years</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">82,974</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">58,455</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Less: accumulated depreciation</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">(92,932</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">)</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">(39,468</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">)</font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">Property and equipment, net</font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">106,112</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">127,700</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Depreciation expense for the years ended December 31, 2015, 2014 and 2013 was $53,465, $37,908 and $1,560, respectively. The Company wrote off certain undepreciated property and equipment during the year ended December 31, 2013 and recorded a loss of $4,122 on the disposition.</font></p>
</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
<us-gaap:DebtDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 5 – Note Payable</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">  </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">On October 25, 2014, the Company entered into a premium finance agreement for its multiple commercial insurance policies in the amount of $43,075. Pursuant to the agreement, the Company was required to pay $4,882 in monthly installments for nine months. On December 28, 2014, the Company entered into a premium finance agreement for its director and officer liability insurance policy in the amount of $0.2 million. Pursuant to the agreement, the Company was required to pay $27,614 in monthly installments for nine months. As of December 31, 2015, the Company paid the agreements in full.</p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">On December 28, 2015, the Company entered into a premium finance agreement for its director and officer liability insurance policy in the amount of $0.3 million. Pursuant to the agreement, the Company was required to pay $30,077 in monthly installments for nine months.</p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">As of December 31, 2015 and 2014, the outstanding balance related to the premium finance agreements was $0.3 million.</p>
</us-gaap:DebtDisclosureTextBlock>
<us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 6 – Derivatives</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company has determined that certain warrants the Company has issued contain provisions that protect holders from future issuances of the Company’s common stock at prices below such warrants’ respective exercise prices and these provisions could result in modification of the warrants’ exercise price based on a variable that is not an input to the fair value of a “fixed-for-fixed” option as defined under FASB ASC Topic No. 815 - 40. The warrants granted in connection with the issuance of the 2012 Common Stock Offering, and the placement agent warrants contain anti-dilution provisions that provide for a reduction in the exercise price of such warrants in the event that future common stock (or securities convertible into or exercisable for common stock) is issued (or becomes contractually issuable) at a price per share (a “Lower Price”) that is less than the exercise price of such warrant at the time. The amount of any such adjustment is determined in accordance with the provisions of the warrant agreement and depends upon the number of shares of common stock issued (or deemed issued) at the Lower Price and the extent to which the Lower Price is less than the exercise price of the warrant at the time.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 29.7pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Activities for derivative warrant instruments during the years ended December 31, 2015 and 2014 were as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Shares subject to warrants</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Fair Value</td><td style="padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom;"><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px;">Balance, December 31, 2013</td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;"> </td><td style="width: 142px; text-align: right;">1,968,623</td><td style="width: 16px; text-align: left;"> </td><td style="width: 15px;"> </td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">6,707,255</td><td style="width: 15px; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Transfer from liability to equity classification</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">(319,294</td><td style="text-align: left;">)</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">(2,203,443</td><td style="text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Change in fair value</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">2,206,099</td><td style="text-align: left; padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td>Balance, December 31, 2014</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1,649,329</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">6,709,911</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Transfer from liability to equity classification</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">(21,960</td><td style="text-align: left;">)</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">(48,691</td><td style="text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Change in fair value</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(3,812,318</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">Balance, December 31, 2015</td><td style="padding-bottom: 4pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">1,627,369</td><td style="text-align: left; padding-bottom: 4pt;"> </td><td style="padding-bottom: 4pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">2,848,902</td><td style="text-align: left; padding-bottom: 4pt;"> </td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During the year ended December 31, 2015, 2,013,360 warrants were exercised, of which 21,960 were derivative warrants. The fair value of these derivative warrants totaling $48,691 were measured on the various exercise dates and reclassified to additional paid-in capital.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During the year ended December 31, 2014, 2,501,993 warrants were exercised, of which 319,294 were derivative warrants.. The fair value of these derivative warrants totaling $2,203,443 were measured on various exercise dates and reclassified to additional paid-in capital.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The fair values of the derivative warrants were calculated using a modified binomial valuation model with the following assumptions at each balance sheet date. </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td> </td><td> </td><td style="text-align: center;" colspan="2">December 31,</td><td> </td><td> </td><td style="text-align: center;" colspan="2">December 31,</td><td> </td></tr><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom;"><td> </td><td> </td><td style="text-align: right;" colspan="2"> </td><td> </td><td> </td><td style="text-align: right;" colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;">Market value of common stock on measurement date (1)</td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">3.23</td><td style="width: 16px; text-align: left;"> </td><td style="width: 15px;"> </td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">5.89</td><td style="width: 15px; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Adjusted exercise price</td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">2.48</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">2.48</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Risk free interest rate (2)</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1.06</td><td style="text-align: left;">%</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1.10</td><td style="text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Warrant lives in years</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">2.0 years</font></td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">3.0 years</font></td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Expected volatility (3)</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">87</td><td style="text-align: left;">%</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">71</td><td style="text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Expected dividend yield (4)</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">-</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">-</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Probability of stock offering in any period over 5 years (5)</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">100</td><td style="text-align: left;">%</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">100</td><td style="text-align: left;">%</td></tr><tr style="vertical-align: bottom; background-color: white;"><td>Offering price (6)</td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">2.60</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">4.50</td><td style="text-align: left;"> </td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 63px; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(1)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 1504px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The market value of common stock at the above measurement dates is based on the Company’s trading price quoted on the NYSE MKT.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">  </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 63px; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(2)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 1504px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The risk-free interest rate was determined by management using the Treasury Bill rate as of the respective measurement date.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 63px; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(3)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 1504px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">As of December 31, 2015, the volatility was estimated using the historical volatilities of the Company’s common stock traded in NYSE MKT market. As of December 31, 2014, the volatility was estimated using the historical volatilities of comparable companies in the same industry and region.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 63px; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(4)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 1504px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Management determined the dividend yield to be 0% based upon its expectation that it will not pay dividends for the foreseeable future.</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(5)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Management determines the probability of future stock offering at each evaluation date.</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(6)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Represents the estimated offering price in future offerings as determined by management.</font></td></tr></table></div>
</us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock>
<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 7 – Commitments and Contingencies</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>License and Research Agreements</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company has entered into license and research and development agreements with third parties under which the Company is obligated to make upfront payments as well as milestone and royalty payments. Notable inclusions in this category are:</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><td style="width: 24px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td><td style="width: 24px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">a.</font></td><td style="text-align: justify; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"><p style="margin: 0px;">AbbVie Biotherapeutics Corp. – The Company entered into a Product Development and Patent License Agreement with AbbVie Biotherapeutics Corp. in 2003 to secure exclusive rights to a specific antibody when conjugated with alpha emitting radioisotopes. Upon execution of the agreement, the Company made a license fee payment of $3,000,000.</p></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company agreed to make milestone payments totaling $7,750,000 for the achievement of the following agreed to and contracted milestones:</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">Milestones</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Payments</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1379px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">(1) when Company initiates a Phase I Clinical Trial of a licensed product</font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">750,000</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">(2) when Company initiates a Phase II Clinical Trial of a licensed product</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">750,000</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">(3) when Company initiates a Phase III Clinical Trial of a licensed product</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1,500,000</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">(4) Biological License Application filing with U.S. FDA</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1,750,000</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">(5) First commercial sale</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1,500,000</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">(6) after the first $10,000,000 in net sales</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1,500,000</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Under the agreement, the Company shall pay to AbbVie Biotherapeutics Corp. on a country-by-country basis a royalty of 12% of net sales of all licensed products until the later of: (1) 12.5 years after the first commercial sale, or (2) when the patents expire.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The Company met its first milestone in 2012 and upon reaching the milestone the Company paid AbbVie Biotherapeutics Corp. a milestone payment of $750,000 on July 24, 2012.  The milestone payment for the Phase 1 Clinical Trial was recorded as research and development expense. The Company has not initiated a Phase 2 Clinical Trial and no payment has been made to AbbVie Biotherapeutics Corp. since the July 24, 2012 payment.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 20pt; line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="width: 24px; line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">b.</font></td><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">MSKCC – see Note 2 - Related Party Transactions.</font></td></tr><tr style="vertical-align: top;"><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"> </td></tr><tr style="vertical-align: top;"><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">c.</font></td><td style="line-height: 14.2667px; font-family: calibri, sans-serif; text-align: justify;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">Oak Ridge National Laboratory (“ORNL”) – The Company is contracted to purchase radioactive material to be used for research and development, with a renewal option at the contract end. During the years ended December 31, 2015, 2014, and 2013, the Company purchased approximately $0.8 million, $0.6 million and $0.3 million, respectively, of radioactive material with ORNL.  On December 21, 2015, the Company signed a contract with ORNL to purchase $0.9 million of radioactive material.</font></td></tr></table><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-indent: 36pt;"> </p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 20pt; line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="width: 24px; line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">d.  </font></td><td><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify;">Icon Clinical Research, LLC (formerly AptivSolutions) provides project management services for the study of the drug Ac-225-HuM195 (Actimab-A) used in the Company’s Phase 1 and Phase 2 clinical trials.  The total project was estimated to cost approximately $1.9 million and required a 12.5% down payment of the total estimated project cost.  The down payment totaling $0.2 million was paid in 2007 and 2012.  On August 6, 2012, October 22, 2012 and May 16, 2013, the agreement was amended to provide for additional services.  The total project is now estimated at approximately $2.7 million. AptivSolutions invoices the Company when services are rendered and the Company records the related expense to research and development expense.</p><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 0.5in;"> </p><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify;">For the years ended December 31, 2015, 2014 and 2013, the Company incurred expenses of approximately $0.4 million, $0.4 million and $0.3 million, respectively, related to this agreement.</p></td></tr><tr style="vertical-align: top;"><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="text-align: justify; line-height: 14.2667px; font-family: calibri, sans-serif;"> </td></tr><tr style="vertical-align: top;"><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">e.  </font></td><td><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify;">On June 15, 2012, the Company entered into a license and sponsored research agreement with Fred Hutchinson Cancer Research Center (“FHCRC”) to build upon previous and ongoing clinical trials, with BC8 (licensed antibody). FHCRC has currently completed both a Phase 1 and Phase 2 clinical trial with BC8 and the Company intends to start preparation for a pivotal trial leading to an FDA approval. The Company has been granted exclusive rights to the BC8 antibody and related master cell bank developed by FHCRC. The cost to develop the trial will range from $13.2 million to $23.5 million, depending on the trial design as required by the FDA. Under the terms of the sponsored research agreement, the Company will fund the FHCRC lab with $0.2 million per year for the first two years and $0.3 million thereafter. Payments made toward funding the lab will be credited toward royalty payments owed to FHCRC in the given year. A milestone payment of $1 million will be due to FHCRC upon FDA approval of the first drug. Upon commercial sale of the drug, royalty payments of 2% of net sales will be due to FHCRC.</p><p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 0px;"> <br />For the years ended December 31, 2015, 2014 and 2013, the Company incurred expenses of approximately $0.3 million, $0.2 million and $0.1 million, respectively, related to this agreement.</p></td></tr></table><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-indent: 36pt;"> </p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 20pt; line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="width: 24px; line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">f.  </font></td><td style="text-align: justify; line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">On August 28, 2012, the Company entered into a clinical trial agreement with The University of Texas M.D. Anderson Cancer Center.  The total estimated cost of conducting the clinical trial is approximately $0.5 million, which includes a non-refundable institutional fee of $14,500.  The estimated cost is based on treating 24 patients through 2015.  Upon execution of the agreement, the Company paid $33,946. </font><br /><br /><font style="font-family: 'times new roman', serif; font-size: 10pt;">During the years ended December 31, 2015 and 2014, the Company recorded an expense of approximately $0 and $0.1 million, respectively.</font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="line-height: 14.2667px; font-family: calibri, sans-serif; width: 20pt;"> </td><td style="line-height: 14.2667px; font-family: calibri, sans-serif; width: 24px;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: 14.1333px; font-family: 'times new roman', times, serif;">g.</font></td><td style="text-align: justify; line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: 14.1333px; font-family: 'times new roman', times, serif;">On February 27, 2014, the Company entered into a manufacturing agreement with Goodwin Biotechnology Inc. ("Goodwin"). Goodwin oversees the current Good Manufacturing Practices (cGMP) production of a monoclonal antibody anticipated to be used in an upcoming phase 3 clinical trial of Iomab-B. Total cost of the agreement is $5.0 million. The Company made a non-refundable payment of $0.6 million upon execution of the agreement. Periodic payments will be made upon reaching certain milestones. As of December 31, 2015, the remaining cost of the agreement is approximately $1.5 million. Goodwin bills the Company when services are rendered and the Company records the related expense to research and development costs. For the years ended December 31, 2015 and 2014, the Company paid Goodwin approximately $4.2 million and $3.6 million, respectively. As of December 31, 2015 and 2014, the Company owed $0.1 million and $0.7 million, respectively, to Goodwin.</font></td></tr></table><p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-indent: 36pt;"> </p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 20pt; line-height: 14.2667px; font-family: calibri, sans-serif;"> </td><td style="width: 24px; line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">h.  </font></td><td style="text-align: justify; line-height: 14.2667px; font-family: calibri, sans-serif;"><font style="font-family: 'times new roman', serif; font-size: 10pt;">On September 30, 2014, the Company entered into a research agreement with the Albert Einstein College of Medicine of Yeshiva University (“Einstein”). According to the agreement, Einstein will use certain materials provided by the Company to complete a research project. The research project will explore the feasibility of using Actinium 225 to prepare patients with blood borne cancers to receive a hematopoietic stem cell transplant. Einstein will periodically provide the Company with reports showing project data or research. The total fixed price of the project is $0.2 million which is payable to Einstein in three payments. During the years ended December 31, 2015 and 2014, the Company paid Einstein approximately $0.1 million.</font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"> </p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Lease Agreements</b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>  </b></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On April 22, 2014, the Company entered into a sublease agreement for office space located at 379 Thornall Street, Edison, NJ. This agreement expires on September 30, 2016. The Company issued a letter of credit for $34,733 to the existing tenant and maintained a $34,733 certified deposit as collateral for the letter of credit.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Future minimum obligations on the lease are:</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-family: 'times new roman', serif;">For the year ending December 31,</td><td> </td><td colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1365.67px; font-family: 'times new roman', serif; text-align: left; padding-left: 10pt;">2016</td><td style="width: 16px; font-family: 'times new roman', serif;"> </td><td style="width: 16px; font-family: 'times new roman', serif; text-align: left;">$</td><td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">84,011</td><td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td></tr></table>
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<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 8 – Equity</b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b> </b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On December 9, 2013, the Company entered into an engagement agreement with its placement agent for the 2013 Common Stock Offering, (the “2013 Offering”) The 2013 Offering was completed in two tranches, on December 9, 2013 and January 10, 2014.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">On December 27, 2013, the Company completed the first sale of the 2013 Offering pursuant to a Unit Purchase Agreement, with certain accredited investors and pursuant to which: the investors agreed to purchase (i) an aggregate of 554,310 shares (the “Shares”) of common stock at $6.00 per share and (ii) five-year warrants to purchase an aggregate of 138,577 shares of common stock at an exercise price of $9.00 per share. The Company received $3.3 million in gross proceeds from the sale of securities and $2.9 million net proceeds after deducting the underwriting discount and the other offering expenses. The transaction date fair value of the warrants of $0.4 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate – 0.07%, expected volatility – 84.06%, expected dividend yield - 0%, and a contractual life of 5 years.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">  </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">In January 2014, the Company completed the final tranche of the 2013 Offering and received approximately $3.3 million total gross proceeds from accredited investors (“2014 Closing”). The Company paid its placement agent total cash fees of approximately $0.4 million and paid attorney fees of $40,000 for their services resulting in net proceeds of $2.9 million. In the 2014 Closing, the Company sold 551,810 shares of common stock at $6.00 per share and granted 137,952 units of five-year warrants with an exercise price of $9.00 per share. The warrants are exercisable for a period of five years from the date of issuance. The transaction date fair value of the warrants of $0.6 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate - 1.64%, expected volatility - 88%, expected dividend yield - 0%, and a contractual life of 5 years.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During January 2014, in connection with the 2014 Closing, the Company issued the Placement Agent warrants to purchase an aggregate of 68,976 shares of common stock with an exercise price of $9.00 per share. The transaction date fair value of the warrants of $0.3 million was determined utilizing the Black-Scholes option pricing model utilizing the following assumptions: risk free interest rate – 1.64%, expected volatility - 88%, expected dividend yield - 0%, and a contractual life of 5 years.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">On March 24, 2014, the Company filed a shelf registration statement on Form S-3 (the “Registration Statement”) which was effective on April 17, 2014. This Registration Statement contained two prospectuses: (i) a base prospectus which covers the offering, issuance and sale by the Company of up to $200 million of its common stock, preferred stock, warrants and/or units; and (ii) a sales agreement prospectus covering the offering, issuance and sale by us of up to a maximum aggregate offering price of $75,000,000 of its common stock that may be issued and sold under a sales agreement (the “ Sales Agreement ” ) with MLV & Co. LLC ( “ MLV ” ) dated March 24, 2014. The Company will pay MLV in cash, upon the sale of common stock pursuant to the Sales Agreement, an amount equal to 3.0% of the gross proceeds from the sale of common stock. On April 28, 2014, the Company issued 500 shares and received net proceeds of $6,000 under the Sales Agreement with MLV. During the year ended December 31, 2015, the Company issued 5,626,119 common shares with an average price of $2.52 per share. The Company received $15.1 million gross proceeds ($14.7 million net proceeds) from the issuances.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">On June 30, 2014, the Company received gross proceeds of $12.5 million from a public offering of 1,670,000 shares of the Company’s common stock, $0.001 par value per share at a price to the public of $7.50 per share less underwriting discounts. The Company paid an underwriting discount of $0.9 million, paid other offering expenses of $0.1 million, and paid attorney and auditor fees of $0.1 million resulting in net proceeds of $11.5 million. Under the terms of the underwriting agreement, the Company also granted the underwriters a 30-day option to purchase up to an additional 250,000 shares of common stock to cover over-allotments, if any, at the offering price.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On July 10, 2014, the underwriter exercised their over-allotment option to purchase an additional 157,123 shares from the Company for $7.50 per share. Including the exercise of the over-allotment option of $1.2 million, in gross proceeds, the Company’s June offering totaled 1,827,123 shares, representing gross proceeds of approximately $13.7 million and $12.6 million net after deducting the underwriting discount and other offering expenses.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On February 11, 2015, the Company completed an underwritten offering of 4,444,444 shares of its common stock and warrants to purchase an aggregate of 3,333,333 shares of its common stock at a price to the public of $4.50 per share. The warrants will be exercisable for a period of 4 years at an exercise price of $6.50 per share and have a relative fair value of $3,540,659 on the issuance date. The Company received net proceeds of approximately $18.5 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by us, and excluding the underwriters’ over-allotment option. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 666,666 shares of common stock and warrants to purchase 499,999 shares of common stock solely to cover over-allotments, if any. The underwriter did not exercise the over-allotment option.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On June 9, 2015, the Company closed a financing with certain investors in which it raised approximately $5,000,000 in gross proceeds or $4,480,000 in net proceeds, after deducting placement agent’s fees and other offering expenses. Investors purchased 1,923,078 shares of the Company’s common stock, at a price per share of $2.60.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2015, the Company issued 1,532,124 common shares for the cashless exercise of warrants. During the year ended December 31, 2015, the Company also issued 224,153 common shares for $173,620 cash received from the exercise of options and warrants.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2014, the Company issued 2,162,181 common shares for the cashless exercise of warrants. During the year ended December 31, 2014, the Company also issued 484,877 common shares for $435,147 cash received from the exercise of options and warrants.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2013, the Company issued 235,158 common shares for cashless exercise of warrants. During the year ended December 31, 2013, the Company also issued 2,118,480 common shares for $3,480,448 cash received from the exercise of options and warrants.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Approval of the 2013 Amended and Restated Stock Plan</b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">In September 2013, the Board of Directors of the Company approved the Company’s 2013 Stock Plan. The expiration date of the plan is September 9, 2023 and the total number of underlying shares of the Company’s common stock available for grant to employees, directors and consultants of the Company under the plan is 2,750,000 shares. In December 2015, the shareholders of the Company approved the second amendment to the plan and increased the number of shares authorized under the plan to 10,750,000 shares.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Approval of the Equity Incentive Plan</b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b> </b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">In September 2013, the Board approved the Company’s 2013 Equity Incentive Plan. The expiration date of the plan is September 9, 2023 and the total number of shares of the Company’s common stock available for grant to employees, directors and consultants of the Company under the plan is 450,000 shares. In December 2013, the shareholders of the Company approved the plan and increased the number of shares authorized under the plan to 1,000,000 shares.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><br /></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><br /></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Restricted Stock</b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b> </b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">During 2013, the Company granted employees, consultants and board members 312,500 shares of restricted stock. 80,000 shares of restricted stock vest 1 year from the grant date, 100,000 shares have a vesting period of 24 months. The remaining restricted shares granted are performance based and vest over time. The shares granted during the year ended December 31, 2013 were valued at $0.7 million based on the stock price on the grant dates.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2014, the Company granted 633,041 shares of restricted stock and cancelled 50,000 shares of restricted stock. Of the total shares of restricted stock granted, 20,000 shares vest 3 months from the grant date, 30,374 shares vest 1 year from the grant date, 30,000 shares have a vesting period of 2 years, 202,497 shares have a vesting period of 4 years and 350,000 shares vest at the date of grant. The shares granted during the year ended December 31, 2014 were valued at $4.9 million based on the stock price on the grant dates. </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2015, the Company granted 479,651 shares of restricted common stock to consultants with a fair value of $2.3 million based on the stock price on the grant dates. Of the 479,651 restricted share awards granted in 2015, 329,651 shares vested at the date of grant and 150,000 shares vest over a six-month period.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2015, the Company cancelled 126,265 shares of restricted stock originally granted to employees and issued a total of 152,499 options (see below). As a result of the cancellation of the 126,265 restricted shares, the Company recorded an expense of $0.8 million for the grant-date fair value of the restricted stock for which the requisite service is expected to be rendered.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2015, 2014 and 2013, the Company recorded approximately $3.4 million, $3.7 million and $0.2 million, respectively, in stock-based compensation for all of the restricted shares outstanding.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During the year ended December 31, 2015, the Company issued common shares totaling 344,784 for restricted shares granted in 2015 and prior years.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Stock Options</b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">Following is a summary of option activities for the years ended December 31, 2015, 2014 and 2013:</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Number of Units</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Weighted<br />Average<br />Exercise<br />Price</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="font-family: 'times new roman', serif; text-align: center; padding-bottom: 1.5pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Weighted<br />Average<br />Remaining<br />Contractual<br />Term<br />(in years)</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="font-family: 'times new roman', serif; text-align: center; padding-bottom: 1.5pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Aggregate<br />Intrinsic<br />Value</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 815px; font-family: 'times new roman', serif;">Outstanding, December 31, 2012</td> <td style="width: 16px; font-family: 'times new roman', serif;"> </td> <td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 142px; font-family: 'times new roman', serif; text-align: right;">2,330,134</td> <td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 16px; font-family: 'times new roman', serif;"> </td> <td style="width: 16px; font-family: 'times new roman', serif; text-align: left;">$</td> <td style="width: 142px; font-family: 'times new roman', serif; text-align: right;">0.96</td> <td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 15px; font-family: 'times new roman', serif;"> </td> <td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">8.91</td> <td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 15px; font-family: 'times new roman', serif;"> </td> <td style="width: 15px; font-family: 'times new roman', serif; text-align: left;">$</td> <td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">685,000</td> <td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Issued</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">787,450</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">6.62</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">10.00</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Cancelled</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">(1,115,550</td> <td style="font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">0.92</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt; padding-left: 10pt;">Exercised</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">(16,650</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">0.78</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif;">Outstanding, December 31, 2013</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">1,985,384</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">3.23</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">8.34</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">5,908,696</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Issued</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">1,338,100</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">8.86</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">10.00</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt; padding-left: 10pt;">Exercised</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">(310,400</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">0.95</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif;">Outstanding, December 31, 2014</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">3,013,084</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">5.98</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">8.35</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">4,728,842</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Issued</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">1,554,499</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">2.78</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">10.00</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Cancelled</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">(576,000</td> <td style="font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">8.70</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt; padding-left: 10pt;">Exercised</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">(20,000</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">0.78</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;">Outstanding, December 31, 2015</td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">3,971,583</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">4.34</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">8.01</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">2,964,146</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;">Exercisable, December 31, 2015</td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">1,826,741</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"></td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">3.56</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">7.37</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"></td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">2,024,556</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> </table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During 2013, the Company granted employees and board members 787,450 options to purchase the Company’s common stock with exercise prices ranging from $3.60 to $6.70, a term of 10 years and vesting over a 4-year period. The fair value of $3.7 million was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 1.36% - 1.55% (2) expected life of 6 years, (3) expected volatility of 83.32% - 98.45%, and (4) zero expected dividends.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During the year ended December 31, 2014, the Company granted employees, consultants, and its board members 1,338,100 options to purchase the Company’s common stock with exercise prices ranging from $0.78 to $11.95 and a term of 10 years with vesting over a 4-year period.  The options have an aggregated fair value of $8.7 million that was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 1.77% - 2.07% (2) expected life of 6 years, (3) expected volatility of 82.47% - 87.76%, and (4) zero expected dividends.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2015, the Company granted employees, consultants, and its board members 1,554,499 options to purchase the Company’s common stock with exercise prices ranging from $1.79 to $3.58 and a term of 10 years with vesting period ranging from 1 to 4.17 years.  The options have an aggregated fair value of $3.2 million that was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include: (1) discount rate of 1.56% - 1.91% (2) expected life of 6 years, (3) expected volatility of 85.01% - 94.89%, and (4) zero expected dividends.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">  </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the years ended December 31, 2015, 2014 and 2013, the Company received gross proceeds of $15,680, $0.3 million and $13,053 for exercise of options for 20,000 shares, 310,400 shares and 16,650 shares, respectively, of the Company’s common stock.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">All options issued and outstanding are being amortized over their respective vesting periods. The unrecognized compensation expense at December 31, 2015 and 2014 was $7.2 million and $10.2 million, respectively. During the years ended December 31, 2015, 2014 and 2013, the Company recorded option expense of $3.4 million, $2.4 million and $0.3 million, respectively.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Warrants</b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b> </b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">Following is a summary of warrant activities for the years ended December 31, 2015, 2014 and 2013:</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Number of Units</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Weighted<br />Average<br />Exercise<br />Price</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Weighted<br />Average<br />Remaining<br />Contractual<br />Term<br />(in years)</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Aggregate<br />Intrinsic<br />Value</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom;"> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 815px;"><font style="font-family: 'times new roman', times, serif;">Outstanding, December 31, 2012</font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">12,770,637</font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">0.97</font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">4.48</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">6,114,768</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td><font style="font-family: 'times new roman', times, serif;">Granted</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"> <p style="margin: 0px;">329,866</p> </td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">7.47</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">6.40</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td><font style="font-family: 'times new roman', times, serif;">Exercised</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">(2,403,429</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.58</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Forfeited</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">(1,023,784</font></td> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td><font style="font-family: 'times new roman', times, serif;">Outstanding, December 31, 2013</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">9,673,290</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.06</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">4.89</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">47,396,307</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td><font style="font-family: 'times new roman', times, serif;">Granted</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">491,928</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">8.33</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">7.90</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td><font style="font-family: 'times new roman', times, serif;">Exercised</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">(2,501,993</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">0.67</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Forfeited</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(29,167</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">6.70</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td><font style="font-family: 'times new roman', times, serif;">Outstanding, December 31, 2014</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">7,634,058</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.64</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">3.97</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">34,317,224</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-left: 10pt;"><font style="font-family: 'times new roman', times, serif;">Granted</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">3,333,333</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">6.50</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"> <p style="margin: 0px;">4.00</p> </td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 1.5pt; text-align: left; padding-left: 10pt;"><font style="font-family: 'times new roman', times, serif;">Exercised</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(2,013,360</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">0.41</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">Outstanding, December 31, 2015</font></td> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"><font style="font-family: 'times new roman', times, serif;">8,954,031</font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">3.73</font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">2.93</font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">10,199,230</font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">Exercisable, December 31, 2015</font></td> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"><font style="font-family: 'times new roman', times, serif;">8,669,031</font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">3.59</font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">2.75</font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 4pt; text-align: right;"><font style="font-family: 'times new roman', times, serif;">10,199,230</font></td> <td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> </table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2013, warrants to purchase 122,000 shares of common stock were granted to service providers at exercise prices ranging from $3.60 to $6.70 per share. These warrants have a term of 7 to 10 years and include (1) Warrants to purchase 72,000 shares of common stock vested immediately and were valued at $0.2 million on the grant date; and (2) Warrants to purchase 50,000 shares of common stock vest over a year and were valued at $0.2 million on the grant date. The fair value on the grant date was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include (1) discount rate of 1.36% - 1.55%, (2) expected term of 5 years, (3) expected volatility of 91.56%, and (4) zero expected dividends. As of December 31, 2013, unrecognized compensation expense related to the warrants was $0.2 million.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During the year ended December 31, 2013, the Company also issued warrants to purchase 138,577 shares of the Company’s common stock to investors and warrants to purchase 69,289 shares of the Company’s common stock to its placement agent in connection with the 2013 Offering.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During the year ended December 31, 2013, 2,403,429 warrants were exercised by the warrant holders. The Company issued 2,336,988 shares of common stock and received gross proceeds of approximately $3.5 million.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">During the year ended December 31, 2014, the Company granted warrants to purchase 137,952 shares of the Company’s common stock to investors and warrants to purchase 68,976 shares of the Company’s common stock to its placement agent in connection with the January 2014 Closing.</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2014, the Company also granted three consultants warrants to purchase 285,000 shares of the Company’s common stock with exercise prices ranging from $5.55 to $11.66 per share and a term of 10 years. These warrants vest when certain milestones are met. The fair value of the warrants was $2.1 million on the grant date and was calculated using the Black-Scholes option-pricing model. Variables used in the Black-Scholes option-pricing model include (1) discount rate of 1.56% - 1.66%, (2) expected term of 5 years, (3) expected volatility of 82.47-87.76%, and (4) zero expected dividends. As of December 31, 2014, unrecognized compensation expense related to the warrants was $1.5 million. </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2014, 2,501,993 warrants were exercised by the warrant holders. The Company issued 2,336,658 shares of common stock and received gross proceeds of $0.2 million.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">On February 11, 2015, the Company completed an underwritten offering of 4,444,444 shares of its common stock and warrants to purchase an aggregate of 3,333,333 shares of its common stock at a price of $4.50 per share. The warrants are exercisable for a period of 4 years at an exercise price of $6.50 per share. The transaction date relative fair value of the warrants of $3.5 million was determined utilizing the Black-Scholes option pricing model. Variables used in the Black-Scholes option-pricing model include (1) discount rate of 1.26%, (2) expected term of 4 years, (3) expected volatility of 72%, and (4) zero expected dividends.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">  </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2015, 2,013,360 warrants were exercised by the warrant holders. The Company issued 1,736,277 shares of common stock and received gross proceeds of $0.2 million.</p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"> </p> <p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;">During the year ended December 31, 2015, 2014 and 2013, the Company recorded stock-based compensation related to the warrants of $0.2 million, $0.1 million and $0.2 million, respectively.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b> </b></font></p>
</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; background-color: white;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 9 – Income Taxes</b></font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in; background-color: white;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities at December 31, 2015 and 2014 are as follows:</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in; background-color: white;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom;"> <td><font style="font-family: 'times new roman', times, serif;">Deferred tax assets:</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 1177.67px; text-align: left; padding-left: 10pt;"><font style="font-family: 'times new roman', times, serif;">Net operating losses carry forward</font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">28,910,183</font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">22,866,340</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Less: valuation allowance</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(28,910,183</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(22,866,340</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Deferred tax assets, net</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> </table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in; background-color: white;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;">As of December 31, 2015, for U.S. federal income tax reporting purposes, the Company has approximately $85.0 million of unused net operating losses (“NOLs”) available for carry forward to future years. The benefit from the carry forward of such NOLs will begin expiring during the year ended December 31, 2021. Because United States tax laws limit the time during which NOL carry forwards may be applied against future taxable income, the Company may be unable to take full advantage of its NOL for federal income tax purposes should the Company generate taxable income. Further, the benefit from utilization of NOLs carry forwards could be subject to limitations due to material ownership changes that could occur in the Company as it continues to raise additional capital. Based on such limitations, the Company has significant NOLs for which realization of tax benefits is uncertain.</p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in; background-color: white;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in; background-color: white;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The difference between the income tax provision and the amount that would result if the U.S. Federal statutory rate of 34% were applied to pre-tax loss for the years ended December 31, 2015, 2014 and 2013 are as follows:</font></p> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.25in; background-color: white;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="padding-left: 10pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="22"><font style="font-family: 'times new roman', times, serif;">For the year ended</font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding-left: 10pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">December 31, 2015</font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">December 31, 2014</font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: center;" colspan="6"><font style="font-family: 'times new roman', times, serif;">December 31, 2013</font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 425.672px; text-align: left; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Federal income taxes at 34%</font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 142px; text-align: right;"> <p style="margin: 0px;">(7,148,607</p> </td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(34.00</font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)%</font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(8,393,753</font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(34.00</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)%</font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(3,663,089</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(34.00</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Stock-based compensation</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"> <p style="margin: 0px;">2,400,951</p> </td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"> <p style="margin: 0px;">11.42</p> </td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">2,135,414</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">8.65</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">163,519</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.52</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Change in fair value of derivatives</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">(1,296,188</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"> <p style="margin: 0px;">(6.16</p> </td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">750,073</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">3.04</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1,420,993</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">13.19</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Other</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">526,224</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">2.13</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Change in valuation allowance</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">6,043,844</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"> <p style="margin: 0px;">28.74</p> </td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">4,982,042</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">20.18</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">2,078,577</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">19.29</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Provision for income tax</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> </table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.25in; background-color: white;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> <b> </b></font></p>
</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:SubsequentEventsTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Note 10 – Subsequent Events</b></font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On January 4, 2016, the Company sold 40,656 shares of common stock for gross proceeds of $130,156 as part of the Sales Agreement with MLV.</p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On January 22, 2016, 500 shares of restricted stock vested and the Company issued 500 shares of common stock to an employee.</p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On January 27, 2016, the Company issued 114,169 shares of common stock for the conversion of 164,580 warrants.</p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On February 16, 2016, the Company entered into a Service agreement with Medpace, Inc. where Medpace agreed to perform Phase 3 study of Iomab-B product. The study is scheduled to be finished in July 2018 with an estimated fees to Medpace of $6.6 million.</p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On February 16, 2016, the Company issued 10,750 shares of common stock to a consultant with a fair value of $19,350.</p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On February 22, 2016, 500 shares of restricted stock vested and the Company issued 500 shares of common stock to an employee.</p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On February 29, 2016 the Company sold 15,946 shares of common stock for gross proceeds of $33,038 as part of the Sales Agreement with MLV.</p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">On March 3, 2016, the Company sold 82,557 shares of common stock for gross proceeds of $170,686 as part of the Sales Agreement with MLV.</p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </p><p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">On March 4, 2016, the Company sold 21,109 shares of common stock for gross proceeds of $43,298 as part of the Sales Agreement with MLV.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"> </p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">On March 7, 2016, the Company sold 38,369 shares of common stock for gross proceeds of $79,216 as part of the Sales Agreement with MLV.</p></div>
</us-gaap:SubsequentEventsTextBlock>
<us-gaap:BusinessCombinationsPolicy contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Nature of Business -</b> Actinium Pharmaceuticals, Inc. (the “Company” or “Actinium”) is a biotechnology company committed to developing breakthrough therapies for life threatening diseases using its alpha particle immunotherapy (“APIT”) platform and other related and similar technologies. Actinium, together with its wholly owned subsidiary, MedActinium, Inc., is hereinafter referred to collectively as “Actinium” or the “Company”. We have initiated collaborative efforts with large institutions to establish the proof of concept of APIT and have supported one Phase 1/2 clinical trial and one Phase 1 clinical trial at Memorial Sloan-Kettering Cancer Center (“MSKCC”) under an MSKCC Physician IND Application. In 2012, Actinium launched a multi-center corporate sponsored trial in acute myeloid leukemia patients. Actinium’s objective, through research and development, is to produce reliable cancer fighting products which utilize monoclonal antibodies linked with alpha particle emitters or other appropriate payloads to provide very potent targeted therapies. The initial clinical trials of Actinium’s compounds have been with patients having acute myeloid leukemia and it is believed that Actinium’s APIT platform will have wider applicability for different types of cancer where suitable monoclonal antibodies can be found.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On December 28, 2012, the Company entered into a transaction (the “Share Exchange”), pursuant to which the Company acquired 100% of the issued and outstanding equity securities of Actinium Pharmaceuticals, Inc. (“API”), in exchange for the issuance of approximately 99% of the issued and outstanding common stock, par value $0.001 per share, of the Company. As a result of the Share Exchange, the Company was then considered a holding company operating through API, a clinical-stage biopharmaceutical company developing certain cancer treatments.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On March 20, 2013, the Company’s subsidiary, Actinium Pharmaceuticals, Inc., changed its name to Actinium Corporation.  On April 11, 2013, the Company changed its domicile from the State of Nevada to the State of Delaware and changed its name from Cactus Ventures, Inc. to Actinium Pharmaceuticals, Inc.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">On September 25, 2013, in accordance with a Certificate of Ownership Merging Actinium Corporation into the Actinium Pharmaceuticals, Inc. filed in Delaware, the Company merged (the “Merger”) into itself Actinium Corporation (a 93.7% owned subsidiary), and Actinium Corporation ceased to exist. As a result of the Merger, Actinium Corporation stock owned by the Company was cancelled and each share of Actinium Corporation not owned by the Company was exchanged for 0.333 shares of Company’s common stock.  A total of 3,970,137 shares of Actinium Corporation common stock was exchanged for 1,322,055 shares of Company common stock. </font></p></div>
</us-gaap:BusinessCombinationsPolicy>
<us-gaap:ConsolidationPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Principles of Consolidation -</b> The consolidated financial statements include the Company’s accounts and those of the Company’s wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.</font><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p></div>
</us-gaap:ConsolidationPolicyTextBlock>
<us-gaap:UseOfEstimates contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Use of Estimates in Financial Statement Presentation -</b> The preparation of these consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p></div>
</us-gaap:UseOfEstimates>
<us-gaap:PriorPeriodReclassificationAdjustmentDescription contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Reclassification -</b> Certain prior period amounts have been reclassified to conform to current period presentation.</font></p></div>
</us-gaap:PriorPeriodReclassificationAdjustmentDescription>
<us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Cash and Cash Equivalents -</b> The Company considers all highly liquid accounts with original maturities of three months or less to be cash equivalents. Balances held by the Company are typically in excess of FDIC insured limits. At December 31, 2015 and 2014, all of the Company’s cash was deposited in one bank. </font></p></div>
</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
<us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Property and Equipment -</b> Machinery and equipment are recorded at cost and depreciated on a straight-line basis over estimated useful lives of three years. Furniture and fixtures are recorded at cost and depreciated on a straight-line basis over estimated useful lives of three years. When assets are retired or sold, the cost and related accumulated depreciation are removed from the accounts, and any related gain or loss is reflected in operations. Repairs and maintenance expenditures are charged to operations.</font></p></div>
</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
<us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Impairment of Long-Lived Assets - </b>Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be realizable or at a minimum annually during the fourth quarter of the year. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared to the asset’s carrying value to determine if an impairment of such asset is necessary. The effect of any impairment would be to expense the difference between the fair value of such asset and its carrying value.</font></p></div>
</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
<us-gaap:DerivativesPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Derivatives -</b> All derivatives are recorded at fair value on the balance sheet. Fair values for securities traded in the open market and derivatives are based on quoted market prices. Where market prices are not readily available, fair values are determined using market based pricing models incorporating readily observable market data and requiring judgment and estimates.</font></p></div>
</us-gaap:DerivativesPolicyTextBlock>
<us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Fair Value of Financial Instruments -</b> Fair value is defined as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. A fair value hierarchy has been established for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 27.5pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity's own assumptions about the assumptions that market participants would use in pricing the assets or liabilities.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The following tables set forth assets and liabilities measured at fair value on a recurring and non-recurring basis by level within the fair value hierarchy as of December 31, 2015 and 2014. As required by ASC 820 “<i>Fair Value Measurements and Disclosures”</i>, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Level 1</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Level 2</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Level 3</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Total</td><td style="padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom;"><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom;"><td>Derivative liabilities:</td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 803px; padding-left: 9pt;">At December 31, 2015</td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;"> </td><td style="width: 142px; text-align: right;">-</td><td style="width: 16px; text-align: left;"> </td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;"> </td><td style="width: 142px; text-align: right;">-</td><td style="width: 16px; text-align: left;"> </td><td style="width: 15px;"> </td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">2,848,902</td><td style="width: 15px; text-align: left;"> </td><td style="width: 15px;"> </td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">2,848,902</td><td style="width: 15px; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-left: 9pt;">At December 31, 2014</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">-</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">-</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">6,709,911</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;">$</td><td style="text-align: right;">6,709,911</td></tr></table>
</us-gaap:FairValueOfFinancialInstrumentsPolicy>
<us-gaap:IncomeTaxPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Income Taxes -</b> The Company uses the asset and liability method in accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on differences between financial reporting and income tax carrying amounts of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company reviews deferred tax assets for a valuation allowance based upon whether it is more likely than not that the deferred tax asset will be fully realized. A valuation allowance, if necessary, is provided against deferred tax assets, based upon management’s assessment as to their realization.</font></p></div>
</us-gaap:IncomeTaxPolicyTextBlock>
<us-gaap:ResearchAndDevelopmentExpensePolicy contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Research and Development Costs –</b> Research and development costs are expensed as incurred. Research and development reimbursements and grants are recorded by the Company as a reduction of research and development costs.</font></p></div>
</us-gaap:ResearchAndDevelopmentExpensePolicy>
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<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Share-Based Payments –</b> The Company estimates the fair value of each stock option award at the grant date by using the Black-Scholes option pricing model. The fair value determined represents the cost for the award and is recognized over the vesting period during which an employee is required to provide service in exchange for the award. As share-based compensation expense is recognized based on awards ultimately expected to vest, the Company reduces the expense for estimated forfeitures based on historical forfeiture rates. Previously recognized compensation costs may be adjusted to reflect the actual forfeiture rate for the entire award at the end of the vesting period. Excess tax benefits, if any, are recognized as an addition to paid-in capital.</font></p></div>
</us-gaap:CompensationRelatedCostsPolicyTextBlock>
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="color: #000000; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; font-family: 'times new roman', serif; margin: 0px; text-align: justify; text-indent: 36pt;"><b>Earnings (Loss) Per Common Share –</b> Basic earnings (loss) per common share is computed by dividing the net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the reporting period. For the years ended December 31, 2015, 2014 and 2013, the Company’s potentially dilutive shares, which include outstanding common stock options and warrants have not been included in the computation of diluted net loss per share as the result would be anti-dilutive.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"></p><table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-align: justify;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2015</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2014</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2013</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; font-family: 'times new roman', serif; text-align: justify;">Options</td><td style="width: 16px; font-family: 'times new roman', serif;"> </td><td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 142px; font-family: 'times new roman', serif; text-align: right;">3,971,583</td><td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 16px; font-family: 'times new roman', serif;"> </td><td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">3,013,084</td><td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 15px; font-family: 'times new roman', serif;"> </td><td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td><td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">1,985,384</td><td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-family: 'times new roman', serif; text-align: justify; padding-bottom: 1.5pt;">Warrants</td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">8,954,031</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">7,634,058</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">9,673,290</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-family: 'times new roman', serif; text-align: justify; padding-bottom: 4pt;">Total</td><td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">12,925,614</td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">10,647,142</td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td><td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">11,658,674</td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td></tr></table><div> </div>
</us-gaap:EarningsPerSharePolicyTextBlock>
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p><font size="2" style="font-family: times new roman,times;"><strong>Recent Accounting Pronouncements</strong> – In April 2015, the FASB issued an Accounting Standards Update that requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The guidance is effective for annual and interim reporting periods beginning after December 15, 2015, but early adoption is permitted. The Company adopted ASU 2015-03 on the consolidated financial statements in 2015.</font></p>
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<us-gaap:SubsequentEventsPolicyPolicyTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"><b>Subsequent Events</b> – The Company’s management reviewed all material events through the date of the consolidated financial statements were issued for subsequent event disclosure consideration. See Note 10.</font></p></div>
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<us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><br class="apple-interchange-newline" /><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Level 1</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Level 2</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Level 3</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Total</td><td style="padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom;"><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom;"><td>Derivative liabilities:</td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 803px; padding-left: 9pt;">At December 31, 2015</td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;"> </td><td style="width: 142px; text-align: right;">-</td><td style="width: 16px; text-align: left;"> </td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;"> </td><td style="width: 142px; text-align: right;">-</td><td style="width: 16px; text-align: left;"> </td><td style="width: 15px;"> </td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">2,848,902</td><td style="width: 15px; text-align: left;"> </td><td style="width: 15px;"> </td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">2,848,902</td><td style="width: 15px; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; padding-left: 9pt; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">At December 31, 2014</td><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">-</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">-</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">$</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">6,709,911</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"> </td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: left; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">$</td><td style="font: 13.33px/normal 'times new roman', times, serif; text-align: right; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">6,709,911</td></tr></table></div>
</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock>
<us-gaap:ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p><table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="text-align: justify;"> </td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2015</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2014</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">December 31,<br />2013</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; text-align: justify; font-family: 'times new roman', serif;">Options</td><td style="width: 16px; font-family: 'times new roman', serif;"> </td><td style="width: 16px; text-align: left; font-family: 'times new roman', serif;"> </td><td style="width: 142px; text-align: right; font-family: 'times new roman', serif;">3,971,583</td><td style="width: 16px; text-align: left; font-family: 'times new roman', serif;"> </td><td style="width: 16px; font-family: 'times new roman', serif;"> </td><td style="width: 16px; text-align: left; font-family: 'times new roman', serif;"> </td><td style="width: 141px; text-align: right; font-family: 'times new roman', serif;">3,013,084</td><td style="width: 15px; text-align: left; font-family: 'times new roman', serif;"> </td><td style="width: 15px; font-family: 'times new roman', serif;"> </td><td style="width: 15px; text-align: left; font-family: 'times new roman', serif;"> </td><td style="width: 141px; text-align: right; font-family: 'times new roman', serif;">1,985,384</td><td style="width: 15px; text-align: left; font-family: 'times new roman', serif;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: justify; padding-bottom: 1.5pt; font-family: 'times new roman', serif;">Warrants</td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">8,954,031</td><td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">7,634,058</td><td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td><td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">9,673,290</td><td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: justify; padding-bottom: 4pt; font-family: 'times new roman', serif;">Total</td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"> </td><td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"> </td><td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">12,925,614</td><td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"> </td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"> </td><td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"> </td><td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">10,647,142</td><td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"> </td><td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"> </td><td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"> </td><td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">11,658,674</td></tr></table>
</us-gaap:ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock>
<us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Milestones</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Payments</td><td style="padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom;"><td> </td><td> </td><td style="text-align: right;" colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1379px; text-align: left;">(1) filing of an New Drug Application (“NDA”) or regulatory approval for each licensed product</td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;">$</td><td style="width: 141px; text-align: right;">750,000</td><td style="width: 15px; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">(2) upon the receipt of regulatory approval from the U.S. FDA for each licensed product</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1,750,000</td><td style="text-align: left;"> </td></tr></table></div>
</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
<us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;" colspan="2"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;" colspan="2"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">Security deposit</font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">11,350</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">Prepaid  insurance</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">376,906</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">368,223</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Other prepaid expenses</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">426,557</font></td><td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">320,278</font></td><td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">Total</font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"><font style="font-family: 'times new roman', times, serif;">803,463</font></td><td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"><font style="font-family: 'times new roman', times, serif;">699,851</font></td><td style="padding-bottom: 4pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr></table><div> </div>
</us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock>
<us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td> </td><td> </td><td style="text-align: center;"> </td><td> </td><td style="text-align: center;" colspan="2">December 31,</td><td> </td><td> </td><td style="text-align: center;" colspan="2">December 31,</td><td> </td></tr><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Lives</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom;"><td> </td><td> </td><td style="text-align: center;"> </td><td> </td><td style="text-align: right;" colspan="2"> </td><td> </td><td> </td><td style="text-align: right;" colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1003px; text-align: left;">Lab equipment</td><td style="width: 16px;"> </td><td style="width: 173px; text-align: center;">3 years</td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;">$</td><td style="width: 142px; text-align: right;">116,070</td><td style="width: 15px; text-align: left;"> </td><td style="width: 15px;"> </td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">108,713</td><td style="width: 15px; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">Office equipment</td><td> </td><td style="text-align: center;">3 years</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">82,974</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">58,455</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: right; padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(92,932</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(39,468</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 4pt;">Property and equipment, net</td><td style="padding-bottom: 4pt;"> </td><td style="text-align: right; padding-bottom: 4pt;"> </td><td style="padding-bottom: 4pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">106,112</td><td style="text-align: left; padding-bottom: 4pt;"> </td><td style="padding-bottom: 4pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">127,700</td></tr></table></div>
</us-gaap:PropertyPlantAndEquipmentTextBlock>
<us-gaap:ScheduleOfDerivativeInstrumentsTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Shares subject to warrants</td><td style="padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Fair Value</td><td style="padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom;"><td> </td><td> </td><td colspan="2"> </td><td> </td><td> </td><td colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1191px;">Balance, December 31, 2013</td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;"> </td><td style="width: 142px; text-align: right;">1,968,623</td><td style="width: 16px; text-align: left;"> </td><td style="width: 15px;"> </td><td style="width: 15px; text-align: left;">$</td><td style="width: 141px; text-align: right;">6,707,255</td><td style="width: 15px; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Transfer from liability to equity classification</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">(319,294</td><td style="text-align: left;">)</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">(2,203,443</td><td style="text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Change in fair value</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">2,206,099</td><td style="text-align: left; padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td>Balance, December 31, 2014</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1,649,329</td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">6,709,911</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">Transfer from liability to equity classification</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">(21,960</td><td style="text-align: left;">)</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">(48,691</td><td style="text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt;">Change in fair value</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">-</td><td style="text-align: left; padding-bottom: 1.5pt;"> </td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(3,812,318</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;"> </td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt;">Balance, December 31, 2015</td><td style="padding-bottom: 4pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"> </td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">1,627,369</td><td style="text-align: left; padding-bottom: 4pt;"> </td><td style="padding-bottom: 4pt;"> </td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">2,848,902</td><td style="text-align: left; padding-bottom: 4pt;"> </td></tr></table></div>
</us-gaap:ScheduleOfDerivativeInstrumentsTextBlock>
<atnm:FairValueOfDerivativeWarrantsOnBasisOfValuationModelTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;" colspan="2"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center;" colspan="2"><font style="font-family: 'times new roman', times, serif;">December 31,</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;" colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 950.4px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">Market value of common stock on measurement date (1)</font></td><td style="width: 12.8px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 12.8px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 112.8px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">3.23</font></td><td style="width: 12.8px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 12.8px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 12px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 112px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">5.89</font></td><td style="width: 12px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td><font style="font-family: 'times new roman', times, serif;">Adjusted exercise price</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">2.48</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">2.48</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">Risk free interest rate (2)</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.06</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.10</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">Warrant lives in years</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">2.0 years</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">3.0 years</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">Expected volatility (3)</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">87</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">71</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">Expected dividend yield (4)</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">Probability of stock offering in any period over 5 years (5)</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">100</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">100</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td><font style="font-family: 'times new roman', times, serif;">Offering price (6)</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">2.60</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">4.50</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 50.4px; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(1)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 1200px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The market value of common stock at the above measurement dates is based on the Company’s trading price quoted on the NYSE MKT.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">  </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 50.4px; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(2)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 1200px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">The risk-free interest rate was determined by management using the Treasury Bill rate as of the respective measurement date.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 50.4px; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(3)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 1200px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">As of December 31, 2015, the volatility was estimated using the historical volatilities of the Company’s common stock traded in NYSE MKT market. As of December 31, 2014, the volatility was estimated using the historical volatilities of comparable companies in the same industry and region.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; width: 50.4px; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(4)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; width: 1200px; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Management determined the dividend yield to be 0% based upon its expectation that it will not pay dividends for the foreseeable future.</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(5)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Management determines the probability of future stock offering at each evaluation date.</font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></td></tr><tr style="font: 10pt/normal 'times new roman', times, serif; vertical-align: top; font-stretch: normal;"><td style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">(6)</font></td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: justify; font-stretch: normal;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;">Represents the estimated offering price in future offerings as determined by management.</font></td></tr></table>
</atnm:FairValueOfDerivativeWarrantsOnBasisOfValuationModelTableTextBlock>
<atnm:MilestonePaymentsMilestoneMethodTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">Milestones</td><td style="padding-bottom: 1.5pt;"> </td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Payments</td><td style="padding-bottom: 1.5pt;"> </td></tr><tr style="vertical-align: bottom;"><td> </td><td> </td><td style="text-align: right;" colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1379px; text-align: left;">(1) when Company initiates a Phase I Clinical Trial of a licensed product</td><td style="width: 16px;"> </td><td style="width: 16px; text-align: left;">$</td><td style="width: 141px; text-align: right;">750,000</td><td style="width: 15px; text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">(2) when Company initiates a Phase II Clinical Trial of a licensed product</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">750,000</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">(3) when Company initiates a Phase III Clinical Trial of a licensed product</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1,500,000</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">(4) Biological License Application filing with U.S. FDA</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1,750,000</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left;">(5) First commercial sale</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1,500,000</td><td style="text-align: left;"> </td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left;">(6) after the first $10,000,000 in net sales</td><td> </td><td style="text-align: left;"> </td><td style="text-align: right;">1,500,000</td><td style="text-align: left;"> </td></tr></table></div>
</atnm:MilestonePaymentsMilestoneMethodTableTextBlock>
<us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-family: 'times new roman', serif;">For the year ending December 31,</td><td> </td><td colspan="2"> </td><td> </td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1365.67px; text-align: left; padding-left: 10pt; font-family: 'times new roman', serif;">2016</td><td style="width: 16px; font-family: 'times new roman', serif;"> </td><td style="width: 16px; text-align: left; font-family: 'times new roman', serif;">$</td><td style="width: 141px; text-align: right; font-family: 'times new roman', serif;">84,011</td><td style="width: 15px; text-align: left; font-family: 'times new roman', serif;"></td></tr></table></div>
</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
<us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">
<table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Number of Units</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Weighted<br />Average<br />Exercise<br />Price</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="font-family: 'times new roman', serif; text-align: center; padding-bottom: 1.5pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Weighted<br />Average<br />Remaining<br />Contractual<br />Term<br />(in years)</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="font-family: 'times new roman', serif; text-align: center; padding-bottom: 1.5pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">Aggregate<br />Intrinsic<br />Value</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 815px; font-family: 'times new roman', serif;">Outstanding, December 31, 2012</td> <td style="width: 16px; font-family: 'times new roman', serif;"> </td> <td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 142px; font-family: 'times new roman', serif; text-align: right;">2,330,134</td> <td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 16px; font-family: 'times new roman', serif;"> </td> <td style="width: 16px; font-family: 'times new roman', serif; text-align: left;">$</td> <td style="width: 142px; font-family: 'times new roman', serif; text-align: right;">0.96</td> <td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 15px; font-family: 'times new roman', serif;"> </td> <td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">8.91</td> <td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="width: 15px; font-family: 'times new roman', serif;"> </td> <td style="width: 15px; font-family: 'times new roman', serif; text-align: left;">$</td> <td style="width: 141px; font-family: 'times new roman', serif; text-align: right;">685,000</td> <td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Issued</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">787,450</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">6.62</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">10.00</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Cancelled</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">(1,115,550</td> <td style="font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">0.92</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt; padding-left: 10pt;">Exercised</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">(16,650</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">0.78</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif;">Outstanding, December 31, 2013</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">1,985,384</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">3.23</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">8.34</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">5,908,696</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Issued</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">1,338,100</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">8.86</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">10.00</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt; padding-left: 10pt;">Exercised</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">(310,400</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">0.95</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif;">Outstanding, December 31, 2014</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">3,013,084</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">5.98</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">8.35</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">4,728,842</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Issued</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">1,554,499</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">2.78</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">10.00</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-left: 10pt;">Cancelled</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">(576,000</td> <td style="font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">8.70</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif;"> </td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; text-align: right;">-</td> <td style="font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt; padding-left: 10pt;">Exercised</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;">(20,000</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;">)</td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">0.78</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: right;">-</td> <td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;">Outstanding, December 31, 2015</td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">3,971,583</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">4.34</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">8.01</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">2,964,146</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;"> </td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;">Exercisable, December 31, 2015</td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;">1,826,741</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"></td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">3.56</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">7.37</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> <td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"> </td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"></td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: right;">2,024,556</td> <td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"> </td> </tr> </table> <p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times, serif; font-size: 10pt;"> </font> </p>
</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
<us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Number of Units</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Weighted<br />Average<br />Exercise<br />Price</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Weighted<br />Average<br />Remaining<br />Contractual<br />Term<br />(in years)</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">Aggregate<br />Intrinsic<br />Value</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 815px;"><font style="font-family: 'times new roman', times, serif;">Outstanding, December 31, 2012</font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">12,770,637</font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">0.97</font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">4.48</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">6,114,768</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td><font style="font-family: 'times new roman', times, serif;">Granted</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><p style="margin: 0px;">329,866</p></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">7.47</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">6.40</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td><font style="font-family: 'times new roman', times, serif;">Exercised</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">(2,403,429</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.58</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td><font style="font-family: 'times new roman', times, serif;">Forfeited</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">(1,023,784</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td><font style="font-family: 'times new roman', times, serif;">Outstanding, December 31, 2013</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">9,673,290</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.06</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">4.89</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">47,396,307</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td><font style="font-family: 'times new roman', times, serif;">Granted</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">491,928</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">8.33</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">7.90</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td><font style="font-family: 'times new roman', times, serif;">Exercised</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">(2,501,993</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">0.67</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Forfeited</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">(29,167</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">)</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">6.70</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td><font style="font-family: 'times new roman', times, serif;">Outstanding, December 31, 2014</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">7,634,058</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.64</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">3.97</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">34,317,224</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-left: 10pt;"><font style="font-family: 'times new roman', times, serif;">Granted</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">3,333,333</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">6.50</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><p style="margin: 0px;">4.00</p></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;"><font style="font-family: 'times new roman', times, serif;">Exercised</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">(2,013,360</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">)</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">0.41</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">Outstanding, December 31, 2015</font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">8,954,031</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">3.73</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">2.93</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">10,199,230</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">Exercisable, December 31, 2015</font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"><font style="font-family: 'times new roman', times, serif;">8,669,031</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">3.59</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">2.75</font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; padding-bottom: 4pt;"><font style="font-family: 'times new roman', times, serif;">10,199,230</font></td></tr></table></div>
</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
<us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; background-color: white; -webkit-text-stroke-width: 0px;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2015</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-family: 'times new roman', times, serif;">2014</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom;"><td><font style="font-family: 'times new roman', times, serif;">Deferred tax assets:</font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1177.67px; text-align: left; padding-left: 10pt;"><font style="font-family: 'times new roman', times, serif;">Net operating losses carry forward</font></td><td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">28,910,183</font></td><td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">22,866,340</font></td><td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Less: valuation allowance</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">(28,910,183</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">)</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">(22,866,340</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">)</font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;">Deferred tax assets, net</font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">-</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">$</font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-family: 'times new roman', times, serif;">-</font></td></tr></table></div>
</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00">
<table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="padding-left: 10pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="22"><font style="font-family: 'times new roman', times, serif;">For the year ended</font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding-left: 10pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">December 31, 2015</font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"><font style="font-family: 'times new roman', times, serif;">December 31, 2014</font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: center;" colspan="6"><font style="font-family: 'times new roman', times, serif;">December 31, 2013</font></td> <td style="padding-bottom: 1.5pt; text-align: center;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td colspan="2"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="width: 425.672px; text-align: left; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Federal income taxes at 34%</font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 142px; text-align: right;"> <p style="margin: 0px;">(7,148,607</p> </td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(34.00</font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)%</font></td> <td style="width: 16px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 142px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(8,393,753</font></td> <td style="width: 16px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(34.00</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)%</font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(3,663,089</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td style="width: 15px;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="width: 141px; text-align: right;"><font style="font-family: 'times new roman', times, serif;">(34.00</font></td> <td style="width: 15px; text-align: left;"><font style="font-family: 'times new roman', times, serif;">)%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Stock-based compensation</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"> <p style="margin: 0px;">2,400,951</p> </td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"> <p style="margin: 0px;">11.42</p> </td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">2,135,414</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">8.65</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">163,519</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1.52</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Change in fair value of derivatives</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">(1,296,188</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"> <p style="margin: 0px;">(6.16</p> </td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">)%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">750,073</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">3.04</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">1,420,993</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">13.19</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Other</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">526,224</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">2.13</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Change in valuation allowance</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">6,043,844</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"> <p style="margin: 0px;">28.74</p> </td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">4,982,042</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">20.18</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">2,078,577</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">19.29</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: right;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt;"><font style="font-family: 'times new roman', times, serif;">Provision for income tax</font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;">$</font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="padding-bottom: 1.5pt;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> <td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"><font style="font-family: 'times new roman', times, serif;">-</font></td> <td style="padding-bottom: 1.5pt; text-align: left;"><font style="font-family: 'times new roman', times, serif;"> </font></td> </tr> </table> <div> </div>
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<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_WarrantMember" unitRef="shares" decimals="INF"> 8954031 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_OptionMember" unitRef="shares" decimals="INF"> 3971583 </us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
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<us-gaap:EquityMethodInvestmentOwnershipPercentage contextRef="Context_As_Of_25_Sep_2013T00_00_00_TO_25_Sep_2013T00_00_00_LegalEntityAxis_ActiniumMember" unitRef="pure" decimals="4"> 0.9370 </us-gaap:EquityMethodInvestmentOwnershipPercentage>
<atnm:CommonStockIssuableInConsiderationForEquityInterestAcquisition contextRef="Context_Custom_25_Dec_2012T00_00_00_TO_28_Dec_2012T00_00_00_LegalEntityAxis_ActiniumMember" unitRef="pure" decimals="2"> 0.99 </atnm:CommonStockIssuableInConsiderationForEquityInterestAcquisition>
<us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_PropertyPlantAndEquipmentByTypeAxis_MachineryAndEquipmentMember"> Three years </us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives>
<us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_PropertyPlantAndEquipmentByTypeAxis_FurnitureAndFixturesMember"> Three years </us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives>
<atnm:SharesExchangeRatio contextRef="Context_Custom_01_Sep_2013T00_00_00_TO_25_Sep_2013T00_00_00_LegalEntityAxis_ActiniumMember" unitRef="pures" decimals="3"> 0.333 </atnm:SharesExchangeRatio>
<atnm:CommonStockShares contextRef="Context_As_Of_25_Sep_2013T00_00_00_TO_25_Sep_2013T00_00_00_LegalEntityAxis_ActiniumMember" unitRef="shares" decimals="INF"> 3970137 </atnm:CommonStockShares>
<atnm:ExchangedInCommonStockShares contextRef="Context_As_Of_25_Sep_2013T00_00_00_TO_25_Sep_2013T00_00_00_LegalEntityAxis_ActiniumMember" unitRef="shares" decimals="INF"> 1322055 </atnm:ExchangedInCommonStockShares>
<atnm:RelatedPartyMilestonesPayment contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MemorialSloanKetteringCancerCenterMember_LongTermPurchaseCommitmentByCategoryOfItemPurchasedAxis_NewDrugApplicationMember" unitRef="USD" decimals="0"> 750000 </atnm:RelatedPartyMilestonesPayment>
<atnm:RelatedPartyMilestonesPayment contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MemorialSloanKetteringCancerCenterMember_LongTermPurchaseCommitmentByCategoryOfItemPurchasedAxis_ReceiptOfRegulatoryApprovalFromUSFdaMember" unitRef="USD" decimals="0"> 1750000 </atnm:RelatedPartyMilestonesPayment>
<atnm:NumberOfPatients contextRef="Context_Custom_01_Aug_2012T00_00_00_TO_28_Aug_2012T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_UniversityOfTexasMDAndersonCancerCenterMember_AgreementAxis_ClinicalTrialAgreementMember" unitRef="patients" decimals="INF"> 24 </atnm:NumberOfPatients>
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<us-gaap:MaintenanceCosts contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MemorialSloanKetteringCancerCenterMember" unitRef="USD" decimals="-5"> 200000 </us-gaap:MaintenanceCosts>
<us-gaap:MaintenanceCosts contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MemorialSloanKetteringCancerCenterMember_AgreementAxis_ClinicalTrialAgreementMember" unitRef="USD" decimals="0"> 0 </us-gaap:MaintenanceCosts>
<atnm:AmountPaidToEachPatient contextRef="Context_As_Of_28_Aug_2012T00_00_00_TO_28_Aug_2012T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_UniversityOfTexasMDAndersonCancerCenterMember_AgreementAxis_ClinicalTrialAgreementMember" unitRef="USD" decimals="-5"> 500000 </atnm:AmountPaidToEachPatient>
<atnm:StartUpFeeForClinicalTrial contextRef="Context_As_Of_28_Aug_2012T00_00_00_TO_28_Aug_2012T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_UniversityOfTexasMDAndersonCancerCenterMember_AgreementAxis_ClinicalTrialAgreementMember" unitRef="USD" decimals="0"> 33946 </atnm:StartUpFeeForClinicalTrial>
<atnm:StartUpDueCostPaidDate contextRef="Context_Custom_01_Aug_2012T00_00_00_TO_28_Aug_2012T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_UniversityOfTexasMDAndersonCancerCenterMember_AgreementAxis_ClinicalTrialAgreementMember"> 2015-12-31 </atnm:StartUpDueCostPaidDate>
<atnm:DescriptionOfReceivablesOfPlacementAgentForServices contextRef="Context_Custom_01_Dec_2013T00_00_00_TO_09_Dec_2013T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember"> The agreement entered in on December 9, 2013 included a cash fee equal to 10% of the gross proceeds raised, a non-accountable expense reimbursement equal to 2% of the gross proceeds raised and warrants to purchase shares of the Company's Common Stock. </atnm:DescriptionOfReceivablesOfPlacementAgentForServices>
<atnm:DescriptionOfWarrantsReceivablesByPlacement contextRef="Context_Custom_01_Dec_2013T00_00_00_TO_09_Dec_2013T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember"> Warrants to purchase shares of the Company's Common Stock in an amount equal to 10% of the shares of common stock issued or issuable. </atnm:DescriptionOfWarrantsReceivablesByPlacement>
<atnm:PeriodicFeeForFinancialAdvisoryServices contextRef="Context_Custom_01_Dec_2013T00_00_00_TO_09_Dec_2013T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD" decimals="0"> 25000 </atnm:PeriodicFeeForFinancialAdvisoryServices>
<atnm:AmountPaidToPlacementAgent contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD" decimals="-5"> 1400000 </atnm:AmountPaidToPlacementAgent>
<atnm:AmountPaidToPlacementAgent contextRef="Context_Custom_01_Jun_2015T00_00_00_TO_09_Jun_2015T00_00_00_SubsidiarySaleOfStockAxis_SubscriptionAgreementsMember" unitRef="USD" decimals="-5"> 400000 </atnm:AmountPaidToPlacementAgent>
<us-gaap:RepaymentsOfDebt contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD" decimals="0"> 25000 </us-gaap:RepaymentsOfDebt>
<us-gaap:RepaymentsOfDebt contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD" decimals="0"> 25000 </us-gaap:RepaymentsOfDebt>
<us-gaap:ArtistAdvancesAndRoyaltyGuaranteesCommitments contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MemorialSloanKetteringCancerCenterMember"> Under the agreement, the Company shall pay to MSKCC on a country-by-country basis a royalty of 2% of net sales of all licensed products until the later of: (1) 10 years from the first commercial sale, or (2) when the patents expire. </us-gaap:ArtistAdvancesAndRoyaltyGuaranteesCommitments>
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<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="shares" decimals="INF"> 122000 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
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<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="shares" decimals="INF"> 68976 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_01_Jun_2014T00_00_00_TO_30_Jun_2014T00_00_00" unitRef="shares" decimals="INF"> 1670000 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_03_Jul_2014T00_00_00_TO_10_Jul_2014T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="shares" decimals="INF"> 1827123 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
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<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="shares" decimals="INF"> 4444444 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_01_Jun_2015T00_00_00_TO_09_Jun_2015T00_00_00_SubsidiarySaleOfStockAxis_SubscriptionAgreementsMember" unitRef="shares" decimals="INF"> 1923078 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
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<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_CommonStockMember" unitRef="shares" decimals="INF"> 1736277 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_01_Jan_2016T00_00_00_TO_04_Jan_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="shares" decimals="INF"> 40656 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_15_Jan_2016T00_00_00_TO_22_Jan_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember" unitRef="shares" decimals="INF"> 500 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_15_Jan_2016T00_00_00_TO_22_Jan_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_AwardTypeAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 500 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_11_Feb_2016T00_00_00_TO_16_Feb_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember" unitRef="shares" decimals="INF"> 10750 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_14_Feb_2016T00_00_00_TO_22_Feb_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember" unitRef="shares" decimals="INF"> 500 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_14_Feb_2016T00_00_00_TO_22_Feb_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_AwardTypeAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 500 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_01_Feb_2016T00_00_00_TO_29_Feb_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="shares" decimals="INF"> 15946 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_01_Mar_2016T00_00_00_TO_03_Mar_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="shares" decimals="INF"> 82557 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_28_Feb_2016T00_00_00_TO_04_Mar_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="shares" decimals="INF"> 21109 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodSharesNewIssues contextRef="Context_Custom_05_Mar_2016T00_00_00_TO_07_Mar_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="shares" decimals="INF"> 38369 </us-gaap:StockIssuedDuringPeriodSharesNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="0"> 2883257 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_CommonStockMember" unitRef="USD" decimals="-5"> 3500000 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> 15435305 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_CommonStockMember" unitRef="USD" decimals="-5"> 200000 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_Custom_01_Jun_2015T00_00_00_TO_09_Jun_2015T00_00_00_TitleOfIndividualAxis_InvestorMember" unitRef="USD" decimals="INF"> 5000000 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_Custom_01_Jun_2015T00_00_00_TO_09_Jun_2015T00_00_00_SubsidiarySaleOfStockAxis_SubscriptionAgreementsMember" unitRef="USD" decimals="0"> 5000000 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="0"> 37637959 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_CommonStockMember" unitRef="USD" decimals="-5"> 200000 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_Custom_01_Jan_2016T00_00_00_TO_04_Jan_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="USD" decimals="0"> 130156 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_Custom_11_Feb_2016T00_00_00_TO_16_Feb_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember" unitRef="USD" decimals="0"> 19350 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_Custom_01_Feb_2016T00_00_00_TO_29_Feb_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="USD" decimals="0"> 33038 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_Custom_01_Mar_2016T00_00_00_TO_03_Mar_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="USD" decimals="0"> 170686 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_Custom_28_Feb_2016T00_00_00_TO_04_Mar_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="USD" decimals="0"> 43298 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:StockIssuedDuringPeriodValueNewIssues contextRef="Context_Custom_05_Mar_2016T00_00_00_TO_07_Mar_2016T00_00_00_SubsequentEventTypeAxis_SubsequentEventMember_LegalEntityAxis_MlvAndCoLlcMember" unitRef="USD" decimals="0"> 79216 </us-gaap:StockIssuedDuringPeriodValueNewIssues>
<us-gaap:ProceedsFromIssuanceInitialPublicOffering contextRef="Context_Custom_01_Jun_2014T00_00_00_TO_30_Jun_2014T00_00_00" unitRef="USD" decimals="-5"> 12500000 </us-gaap:ProceedsFromIssuanceInitialPublicOffering>
<us-gaap:ProceedsFromIssuanceInitialPublicOffering contextRef="Context_Custom_03_Jul_2014T00_00_00_TO_10_Jul_2014T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD" decimals="-5"> 13700000 </us-gaap:ProceedsFromIssuanceInitialPublicOffering>
<us-gaap:ProceedsFromIssuanceInitialPublicOffering contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD" decimals="-5"> 20000000 </us-gaap:ProceedsFromIssuanceInitialPublicOffering>
<us-gaap:ProceedsFromIssuanceInitialPublicOffering contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5"> 15100000 </us-gaap:ProceedsFromIssuanceInitialPublicOffering>
<atnm:NetProceedsFromIssuanceInitialPublicOffering contextRef="Context_Custom_01_Jun_2014T00_00_00_TO_30_Jun_2014T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD" decimals="-5"> 11500000 </atnm:NetProceedsFromIssuanceInitialPublicOffering>
<atnm:NetProceedsFromIssuanceInitialPublicOffering contextRef="Context_Custom_03_Jul_2014T00_00_00_TO_10_Jul_2014T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD" decimals="-5"> 12600000 </atnm:NetProceedsFromIssuanceInitialPublicOffering>
<atnm:NetProceedsFromIssuanceInitialPublicOffering contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD" decimals="-5"> 18500000 </atnm:NetProceedsFromIssuanceInitialPublicOffering>
<atnm:NetProceedsFromIssuanceInitialPublicOffering contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5"> 14700000 </atnm:NetProceedsFromIssuanceInitialPublicOffering>
<us-gaap:SharePrice contextRef="Context_As_Of_09_Jun_2015T00_00_00_TO_09_Jun_2015T00_00_00_SubsidiarySaleOfStockAxis_SubscriptionAgreementsMember" unitRef="USD_per_Share" decimals="2"> 2.60 </us-gaap:SharePrice>
<us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction contextRef="Context_Custom_01_Jun_2015T00_00_00_TO_09_Jun_2015T00_00_00_TitleOfIndividualAxis_InvestorMember" unitRef="shares" decimals="INF"> 1923078 </us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction>
<us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MemorialSloanKetteringCancerCenterMember" unitRef="shares" decimals="-5"> 5700000 </us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction>
<us-gaap:SaleOfStockDescriptionOfTransaction contextRef="Context_Custom_04_Mar_2014T00_00_00_TO_24_Mar_2014T00_00_00"> The Company will pay MLV in cash, upon the sale of common stock pursuant to the Sales Agreement, an amount equal to 3.0% of the gross proceeds from the sale of common stock. On April 28, 2014, the Company issued 500 shares and received net proceeds of $6,000 under the Sales Agreement with MLV. </us-gaap:SaleOfStockDescriptionOfTransaction>
<us-gaap:SaleOfStockDescriptionOfTransaction contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MemorialSloanKetteringCancerCenterMember"> Thereafter MSKCC shall be permitted to sell its shares subject to a weekly volume limitation of 150,000 shares (which limit may be increased to up to 250,000 shares per week to the extent any prior weekly allotments are not fully used) and applicable law so long as MSKCC maintains at least 25% of its current shareholding in Actinium through December 31, 2016. </us-gaap:SaleOfStockDescriptionOfTransaction>
<atnm:CashFee contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD" decimals="0"> 399103 </atnm:CashFee>
<atnm:CashFee contextRef="Context_Custom_01_Jul_2014T00_00_00_TO_10_Jul_2014T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD" decimals="0"> 455108 </atnm:CashFee>
<atnm:CashFee contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD" decimals="0"> 397303 </atnm:CashFee>
<atnm:WarrantsToPurchaseOfCommonStock contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="shares" decimals="INF"> 69289 </atnm:WarrantsToPurchaseOfCommonStock>
<atnm:WarrantsToPurchaseOfCommonStock contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="shares" decimals="INF"> 68976 </atnm:WarrantsToPurchaseOfCommonStock>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="USD_per_Share" decimals="2"> 3.60 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="USD_per_Share" decimals="2"> 6.70 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MinimumMember" unitRef="USD_per_Share" decimals="2"> 3.60 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MaximumMember" unitRef="USD_per_Share" decimals="2"> 6.70 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD_per_Share" decimals="2"> 9.00 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 9.00 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_ConsultantMember_RangeAxis_MinimumMember" unitRef="USD_per_Share" decimals="2"> 5.55 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_ConsultantMember_RangeAxis_MaximumMember" unitRef="USD_per_Share" decimals="2"> 11.66 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_11_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD_per_Share" decimals="2"> 6.50 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1 contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD_per_Share" decimals="0"> 9 </us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1>
<atnm:WarrantsTerm contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_SubsidiarySaleOfStockAxis_PlacementAgentMember"> P5Y </atnm:WarrantsTerm>
<us-gaap:DepositsAssetsCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> 11350 </us-gaap:DepositsAssetsCurrent>
<us-gaap:DepositsAssetsCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:PrepaidInsurance contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> 368223 </us-gaap:PrepaidInsurance>
<us-gaap:PrepaidInsurance contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="0"> 376906 </us-gaap:PrepaidInsurance>
<us-gaap:OtherPrepaidExpenseCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> 320278 </us-gaap:OtherPrepaidExpenseCurrent>
<us-gaap:OtherPrepaidExpenseCurrent contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="0"> 426557 </us-gaap:OtherPrepaidExpenseCurrent>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_PropertyPlantAndEquipmentByTypeAxis_OfficeEquipmentMember"> P3Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_PropertyPlantAndEquipmentByTypeAxis_LabEquipmentMember"> P3Y </us-gaap:PropertyPlantAndEquipmentUsefulLife>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_PropertyPlantAndEquipmentByTypeAxis_OfficeEquipmentMember" unitRef="USD" decimals="0"> 58455 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_PropertyPlantAndEquipmentByTypeAxis_LabEquipmentMember" unitRef="USD" decimals="0"> 108713 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_PropertyPlantAndEquipmentByTypeAxis_OfficeEquipmentMember" unitRef="USD" decimals="0"> 82974 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_PropertyPlantAndEquipmentByTypeAxis_LabEquipmentMember" unitRef="USD" decimals="0"> 116070 </us-gaap:PropertyPlantAndEquipmentGross>
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> 39468 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
<us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="0"> 92932 </us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
<us-gaap:NotesPayable contextRef="Context_As_Of_25_Oct_2014T00_00_00_TO_25_Oct_2014T00_00_00_AgreementAxis_PremiumFinanceAgreementMember" unitRef="USD" decimals="0"> 43075 </us-gaap:NotesPayable>
<us-gaap:NotesPayable contextRef="Context_As_Of_28_Dec_2014T00_00_00_TO_28_Dec_2014T00_00_00_AgreementAxis_PremiumFinanceAgreementMember" unitRef="USD" decimals="-5"> 200000 </us-gaap:NotesPayable>
<us-gaap:NotesPayable contextRef="Context_As_Of_28_Dec_2015T00_00_00_TO_28_Dec_2015T00_00_00_AgreementAxis_PremiumFinanceAgreementMember" unitRef="USD" decimals="-5"> 300000 </us-gaap:NotesPayable>
<us-gaap:DueToOfficersOrStockholdersCurrentAndNoncurrent contextRef="Context_As_Of_25_Oct_2014T00_00_00_TO_25_Oct_2014T00_00_00_AgreementAxis_PremiumFinanceAgreementMember" unitRef="USD" decimals="0"> 4882 </us-gaap:DueToOfficersOrStockholdersCurrentAndNoncurrent>
<us-gaap:DueToOfficersOrStockholdersCurrentAndNoncurrent contextRef="Context_As_Of_28_Dec_2014T00_00_00_TO_28_Dec_2014T00_00_00_AgreementAxis_PremiumFinanceAgreementMember" unitRef="USD" decimals="0"> 27614 </us-gaap:DueToOfficersOrStockholdersCurrentAndNoncurrent>
<us-gaap:DueToOfficersOrStockholdersCurrentAndNoncurrent contextRef="Context_As_Of_28_Dec_2015T00_00_00_TO_28_Dec_2015T00_00_00_AgreementAxis_PremiumFinanceAgreementMember" unitRef="USD" decimals="0"> 30077 </us-gaap:DueToOfficersOrStockholdersCurrentAndNoncurrent>
<atnm:NumberOfInstallment contextRef="Context_As_Of_28_Dec_2015T00_00_00_TO_28_Dec_2015T00_00_00_AgreementAxis_PremiumFinanceAgreementMember" unitRef="installments" decimals="INF"> 9 </atnm:NumberOfInstallment>
<atnm:DerivativeWarrantsUnits contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="shares" decimals="INF"> 1968623 </atnm:DerivativeWarrantsUnits>
<atnm:DerivativeWarrantsUnits contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="shares" decimals="INF"> 1649329 </atnm:DerivativeWarrantsUnits>
<atnm:DerivativeWarrantsUnits contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="shares" decimals="INF"> 1627369 </atnm:DerivativeWarrantsUnits>
<atnm:TransferFromLiabilityClassificationToEquityClassification contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> -319294 </atnm:TransferFromLiabilityClassificationToEquityClassification>
<atnm:TransferFromLiabilityClassificationToEquityClassification contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="0"> -21960 </atnm:TransferFromLiabilityClassificationToEquityClassification>
<us-gaap:DerivativeFairValueOfDerivativeNet contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="0"> 6707255 </us-gaap:DerivativeFairValueOfDerivativeNet>
<us-gaap:DerivativeFairValueOfDerivativeNet contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> 6709911 </us-gaap:DerivativeFairValueOfDerivativeNet>
<us-gaap:DerivativeFairValueOfDerivativeNet contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="0"> 2848902 </us-gaap:DerivativeFairValueOfDerivativeNet>
<atnm:FairValueOfTransferFromLiabilityClassificationToEquityClassification contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> 2203443 </atnm:FairValueOfTransferFromLiabilityClassificationToEquityClassification>
<atnm:FairValueOfTransferFromLiabilityClassificationToEquityClassification contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="0"> 48691 </atnm:FairValueOfTransferFromLiabilityClassificationToEquityClassification>
<atnm:ChangeInFairValueOfDerivativeWarrants contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="0"> 2206099 </atnm:ChangeInFairValueOfDerivativeWarrants>
<atnm:ChangeInFairValueOfDerivativeWarrants contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="0"> -3812318 </atnm:ChangeInFairValueOfDerivativeWarrants>
<atnm:MarketValueOfCommonStockOnMeasurementDate contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD_per_Share" decimals="2" id="Item_1"> 5.89 </atnm:MarketValueOfCommonStockOnMeasurementDate>
<atnm:MarketValueOfCommonStockOnMeasurementDate contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD_per_Share" decimals="2" id="Item_3"> 3.23 </atnm:MarketValueOfCommonStockOnMeasurementDate>
<us-gaap:FairValueAssumptionsExercisePrice contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD_per_Share" decimals="2"> 2.48 </us-gaap:FairValueAssumptionsExercisePrice>
<us-gaap:FairValueAssumptionsExercisePrice contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD_per_Share" decimals="2"> 2.48 </us-gaap:FairValueAssumptionsExercisePrice>
<us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="Context_Custom_02_Dec_2013T00_00_00_TO_27_Dec_2013T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="pure" decimals="4"> 0.0007 </us-gaap:FairValueAssumptionsRiskFreeInterestRate>
<us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="pure" decimals="4"> 0.0164 </us-gaap:FairValueAssumptionsRiskFreeInterestRate>
<us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="pure" decimals="4"> 0.0164 </us-gaap:FairValueAssumptionsRiskFreeInterestRate>
<us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="pure" decimals="4" id="Item_4"> 0.0110 </us-gaap:FairValueAssumptionsRiskFreeInterestRate>
<us-gaap:FairValueAssumptionsRiskFreeInterestRate contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="pure" decimals="4" id="Item_6"> 0.0106 </us-gaap:FairValueAssumptionsRiskFreeInterestRate>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_Custom_02_Dec_2013T00_00_00_TO_27_Dec_2013T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember"> P5Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P6Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember"> P5Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember"> P5Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_WarrantMember"> P5Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00"> P3Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P6Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember"> P5Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_ConsultantMember"> P10Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember"> P4Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00"> P2Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedTerm contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P6Y </us-gaap:FairValueAssumptionsExpectedTerm>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_Custom_02_Dec_2013T00_00_00_TO_27_Dec_2013T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="pure" decimals="4"> 0.8406 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="pure" decimals="4"> 0.9156 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.8332 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.9845 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="pure" decimals="2"> 0.88 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="pure" decimals="2"> 0.88 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="pure" decimals="2" id="Item_7"> 0.71 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.8247 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.8776 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.8247 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.8776 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="pure" decimals="2"> 0.72 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="pure" decimals="2" id="Item_9"> 0.87 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.8501 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedVolatilityRate contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.9489 </us-gaap:FairValueAssumptionsExpectedVolatilityRate>
<us-gaap:FairValueAssumptionsExpectedDividendRate contextRef="Context_Custom_02_Dec_2013T00_00_00_TO_27_Dec_2013T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="pure" decimals="2"> 0.00 </us-gaap:FairValueAssumptionsExpectedDividendRate>
<us-gaap:FairValueAssumptionsExpectedDividendRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="pure" decimals="2"> 0.00 </us-gaap:FairValueAssumptionsExpectedDividendRate>
<us-gaap:FairValueAssumptionsExpectedDividendRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="pure" decimals="2"> 0.00 </us-gaap:FairValueAssumptionsExpectedDividendRate>
<us-gaap:FairValueAssumptionsExpectedDividendRate contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="pure" decimals="2"> 0.00 </us-gaap:FairValueAssumptionsExpectedDividendRate>
<us-gaap:FairValueAssumptionsExpectedDividendRate contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="pure" decimals="2"> 0.00 </us-gaap:FairValueAssumptionsExpectedDividendRate>
<us-gaap:FairValueAssumptionsExpectedDividendRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="pure" xsi:nil="true" id="Item_10"/>
<us-gaap:FairValueAssumptionsExpectedDividendRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="pure" decimals="2"> 0.00 </us-gaap:FairValueAssumptionsExpectedDividendRate>
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<us-gaap:FairValueAssumptionsExpectedDividendRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="pure" decimals="2"> 0.00 </us-gaap:FairValueAssumptionsExpectedDividendRate>
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<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF"> 1115550 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="shares" decimals="INF"> 1023784 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="shares" decimals="INF"> 29167 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 50000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF"> 576000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 126265 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF"> 1826741 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="shares" decimals="INF"> 8669031 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 0.96 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 0.97 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 3.23 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 1.06 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 5.98 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 1.64 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 4.34 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 3.73 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 6.62 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 7.47 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 8.86 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 8.33 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 2.78 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 6.50 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 0.78 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 1.58 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 0.95 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 0.67 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="USD_per_Share" decimals="2"> 0.78 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="USD_per_Share" decimals="2"> 11.95 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 0.78 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 0.41 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="USD_per_Share" decimals="2"> 1.79 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="USD_per_Share" decimals="2"> 3.58 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 0.92 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 6.70 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 8.70 </us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2"> 3.56 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 3.59 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P8Y10M28D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember"> P4Y5M23D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P8Y4M2D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember"> P4Y10M21D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P8Y4M6D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember"> P4Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P10Y </atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm>
<atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember"> P6Y4M24D </atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm>
<atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P10Y </atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm>
<atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember"> P7Y10M24D </atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm>
<atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P10Y </atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm>
<atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember"> P3Y1M13D </atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm>
<atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P8Y4M2D </atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms>
<atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember"> P4Y10M21D </atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms>
<atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P8Y4M6D </atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms>
<atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember"> P3Y11M19D </atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms>
<atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P8Y4D </atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms>
<atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember"> P2Y11M5D </atnm:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerms>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P7Y4M13D </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember"> P2Y9M </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="0"> 685000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2012T00_00_00_TO_31_Dec_2012T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD" decimals="0"> 6114768 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="0"> 5908696 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD" decimals="0"> 47396307 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="0"> 4728842 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD" decimals="0"> 34317224 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="0"> 2964146 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD" decimals="0"> 10199230 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_Custom_02_Dec_2013T00_00_00_TO_27_Dec_2013T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD" decimals="-5"> 400000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_CommonStockMember_SubsidiarySaleOfStockAxis_PlacementAgentMember" unitRef="USD" decimals="-5"> 300000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_Custom_01_Jan_2014T00_00_00_TO_31_Jan_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="USD" decimals="-5"> 600000 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="0"> 2024556 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00_DerivativeByNatureAxis_WarrantMember" unitRef="USD" decimals="0"> 10199230 </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.0136 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.0155 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.0136 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.0155 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.0177 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.0207 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.0156 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.0166 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="pure" decimals="4"> 0.0126 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.0169 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.0191 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4"> 0.0156 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:FairValueAssumptionsExpectedDiscountRate contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_WarrantMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4"> 0.0191 </atnm:FairValueAssumptionsExpectedDiscountRate>
<atnm:WarrantsIssuedToPurchaseCommonStock contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_TitleOfIndividualAxis_InvestorMember" unitRef="shares" decimals="INF"> 138577 </atnm:WarrantsIssuedToPurchaseCommonStock>
<atnm:WarrantsIssuedToPurchaseCommonStock contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_InvestorMember" unitRef="shares" decimals="INF"> 137952 </atnm:WarrantsIssuedToPurchaseCommonStock>
<atnm:WarrantsIssuedToPurchaseCommonStock contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_ConsultantMember" unitRef="shares" decimals="INF"> 285000 </atnm:WarrantsIssuedToPurchaseCommonStock>
<atnm:WarrantsIssuedToPurchaseCommonStock contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="shares" decimals="INF"> 3333333 </atnm:WarrantsIssuedToPurchaseCommonStock>
<us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 312500 </us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures>
<us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 633041 </us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures>
<us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 152499 </us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures>
<us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 344784 </us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures>
<us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_RestrictedStockMember_TitleOfIndividualAxis_ConsultantMember" unitRef="shares" decimals="INF"> 479651 </us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures>
<us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="USD" decimals="-5"> 700000 </us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures>
<us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="USD" decimals="-5"> 4900000 </us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures>
<us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="USD" decimals="-5"> 800000 </us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures>
<us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_RestrictedStockMember_TitleOfIndividualAxis_ConsultantMember" unitRef="USD" decimals="-5"> 2300000 </us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures>
<atnm:StockIssuedDuringPeriodRestrictedStockAwardNotIssued contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember" unitRef="shares" decimals="INF"> 202497 </atnm:StockIssuedDuringPeriodRestrictedStockAwardNotIssued>
<atnm:StockIssuedDuringPeriodRestrictedStockAwardNotIssued contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_RestrictedStockMember_TitleOfIndividualAxis_ConsultantMember" unitRef="shares" decimals="INF"> 329651 </atnm:StockIssuedDuringPeriodRestrictedStockAwardNotIssued>
<atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalGrantsInPeriod contextRef="Context_Custom_03_Jul_2014T00_00_00_TO_10_Jul_2014T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="shares" decimals="INF"> 157123 </atnm:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAdditionalGrantsInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember"> 80,000 shares of restricted stock vest 1 year from the grant date, 100,000 shares have a vesting period of 24 months. The remaining restricted shares granted are performance based and vest over time. </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_TitleOfIndividualAxis_EmployeesDirectorsAndConsultantsMember_StatementClassOfStockAxis_RestrictedStockMember"> Of the total shares of restricted stock granted, 20,000 shares vest 3 months from the grant date, 30,374 shares vest 1 year from the grant date, 30,000 shares have a vesting period of 2 years, 202,497 shares have a vesting period of 4 years and 350,000 shares vest at the date of grant. </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_RestrictedStockMember_TitleOfIndividualAxis_ConsultantMember"> Of the 479,651 restricted share awards granted in 2015, 329,651 shares vested at the date of grant and 150,000 shares vest over a six-month period. </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationDescriptionAndTerms>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P10Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P10Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P10Y </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P4Y </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember"> P4Y </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MinimumMember"> P1Y </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember_RangeAxis_MaximumMember"> P4Y2M1D </us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1 contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-5"> 3700000 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1 contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-5"> 8700000 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1 contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-5"> 3200000 </us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1>
<atnm:CommonStockForIssuedCashlessExerciseOfWarrants contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="shares" decimals="INF"> 235158 </atnm:CommonStockForIssuedCashlessExerciseOfWarrants>
<atnm:CommonStockForIssuedCashlessExerciseOfWarrants contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="shares" decimals="INF"> 2162181 </atnm:CommonStockForIssuedCashlessExerciseOfWarrants>
<atnm:CommonStockForIssuedCashlessExerciseOfWarrants contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="shares" decimals="INF"> 1532124 </atnm:CommonStockForIssuedCashlessExerciseOfWarrants>
<atnm:AdditionalCommonStockIssuedForExerciseOfOptionsAndWarrants contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="shares" decimals="INF"> 2118480 </atnm:AdditionalCommonStockIssuedForExerciseOfOptionsAndWarrants>
<atnm:AdditionalCommonStockIssuedForExerciseOfOptionsAndWarrants contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="shares" decimals="INF"> 484877 </atnm:AdditionalCommonStockIssuedForExerciseOfOptionsAndWarrants>
<atnm:AdditionalCommonStockIssuedForExerciseOfOptionsAndWarrants contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="shares" decimals="INF"> 224153 </atnm:AdditionalCommonStockIssuedForExerciseOfOptionsAndWarrants>
<atnm:ProceedsFromStockOptionsAndWarrantsExercised contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="USD" decimals="0"> 3480448 </atnm:ProceedsFromStockOptionsAndWarrantsExercised>
<atnm:ProceedsFromStockOptionsAndWarrantsExercised contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="USD" decimals="0"> 435147 </atnm:ProceedsFromStockOptionsAndWarrantsExercised>
<atnm:ProceedsFromStockOptionsAndWarrantsExercised contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_WarrantOneMember" unitRef="USD" decimals="0"> 173620 </atnm:ProceedsFromStockOptionsAndWarrantsExercised>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-5"> 300000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="USD" decimals="-5"> 200000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_RestrictedStockMember" unitRef="USD" decimals="-5"> 200000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5"> 2400000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="USD" decimals="-5"> 100000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_RestrictedStockMember" unitRef="USD" decimals="-5"> 3700000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5"> 3400000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="USD" decimals="-5"> 200000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpense contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_StatementClassOfStockAxis_RestrictedStockMember" unitRef="USD" decimals="-5"> 3400000 </us-gaap:AllocatedShareBasedCompensationExpense>
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="USD" decimals="-5"> 200000 </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5"> 10200000 </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="USD" decimals="-5"> 1500000 </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD" decimals="-5"> 7200000 </us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
<us-gaap:SaleOfStockPricePerShare contextRef="Context_As_Of_30_Jun_2014T00_00_00_TO_30_Jun_2014T00_00_00" unitRef="USD_per_Share" decimals="2"> 7.50 </us-gaap:SaleOfStockPricePerShare>
<us-gaap:SaleOfStockPricePerShare contextRef="Context_As_Of_10_Jul_2014T00_00_00_TO_10_Jul_2014T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD_per_Share" decimals="2"> 7.50 </us-gaap:SaleOfStockPricePerShare>
<us-gaap:SaleOfStockPricePerShare contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_StatementClassOfStockAxis_WarrantMember" unitRef="USD_per_Share" decimals="2"> 6.00 </us-gaap:SaleOfStockPricePerShare>
<us-gaap:SaleOfStockPricePerShare contextRef="Context_As_Of_11_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD_per_Share" decimals="2"> 4.50 </us-gaap:SaleOfStockPricePerShare>
<us-gaap:SaleOfStockPricePerShare contextRef="Context_As_Of_09_Jun_2015T00_00_00_TO_09_Jun_2015T00_00_00_TitleOfIndividualAxis_InvestorMember" unitRef="USD_per_Share" decimals="2"> 2.60 </us-gaap:SaleOfStockPricePerShare>
<us-gaap:SaleOfStockPricePerShare contextRef="Context_As_Of_09_Jun_2015T00_00_00_TO_09_Jun_2015T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD_per_Share" decimals="2"> 2.60 </us-gaap:SaleOfStockPricePerShare>
<us-gaap:SaleOfStockPricePerShare contextRef="Context_As_Of_31_Dec_2015T00_00_00_TO_31_Dec_2015T00_00_00" unitRef="USD_per_Share" decimals="2"> 2.52 </us-gaap:SaleOfStockPricePerShare>
<atnm:UnderwritingDiscount contextRef="Context_Custom_02_Dec_2013T00_00_00_TO_27_Dec_2013T00_00_00" unitRef="USD" decimals="-5"> 2900000 </atnm:UnderwritingDiscount>
<atnm:UnderwritingDiscount contextRef="Context_Custom_01_Jun_2014T00_00_00_TO_30_Jun_2014T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD" decimals="-5"> 900000 </atnm:UnderwritingDiscount>
<atnm:UnderwritingDiscount contextRef="Context_Custom_03_Jul_2014T00_00_00_TO_10_Jul_2014T00_00_00_StatementClassOfStockAxis_IPOMember" unitRef="USD" decimals="-5"> 12600000 </atnm:UnderwritingDiscount>
<atnm:UnderwritingAgreementDescription contextRef="Context_Custom_02_Dec_2013T00_00_00_TO_27_Dec_2013T00_00_00">
<div>Investors agreed to purchase (i) an aggregate of 554,310 shares (the “Shares”) of common stock at $6.00 per share and (ii) five-year warrants to purchase an aggregate of 138,577 shares of common stock at an exercise price of $9.00 per share. The Company received $3.3 million in gross proceeds from the sale of securities.</div>
</atnm:UnderwritingAgreementDescription>
<atnm:UnderwritingAgreementDescription contextRef="Context_Custom_01_Jun_2014T00_00_00_TO_30_Jun_2014T00_00_00_StatementClassOfStockAxis_IPOMember"> Under the terms of the underwriting agreement, the Company also granted the underwriters a 30-day option to purchase up to an additional 250,000 shares of common stock to cover over-allotments, if any, at the offering price. </atnm:UnderwritingAgreementDescription>
<atnm:UnderwritingAgreementDescription contextRef="Context_Custom_09_Feb_2015T00_00_00_TO_11_Feb_2015T00_00_00_StatementClassOfStockAxis_IPOMember"> In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 666,666 shares of common stock and warrants to purchase 499,999 shares of common stock solely to cover over-allotments, if any. The underwriter did not exercise the over-allotment option. </atnm:UnderwritingAgreementDescription>
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<div>This Registration Statement contained two prospectuses: (i) a base prospectus which covers the offering, issuance and sale by the Company of up to $200 million of its common stock, preferred stock, warrants and/or units; and (ii) a sales agreement prospectus covering the offering, issuance and sale by us of up to a maximum aggregate offering price of $75,000,000 of its common stock that may be issued and sold under a sales agreement (the “ Sales Agreement ” ) with MLV & Co. LLC ( “ MLV ” ) dated March 24, 2014.</div>
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<link:footnote xlink:type="resource" xlink:label="Footnote_2" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> The market value of common stock at the above measurement dates is based on the Company's trading price quoted on the NYSE MKT. </link:footnote>
<link:footnote xlink:type="resource" xlink:label="Footnote_5" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> The risk-free interest rate was determined by management using the Treasury Bill rate as of the respective measurement date. </link:footnote>
<link:footnote xlink:type="resource" xlink:label="Footnote_8" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> As of December 31, 2015, the volatility was estimated using the historical volatilities of the Company's common stock traded in NYSE MKT market. As of December 31, 2014, the volatility was estimated using the historical volatilities of comparable companies in the same industry and region. </link:footnote>
<link:footnote xlink:type="resource" xlink:label="Footnote_11" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Management determined the dividend yield to be 0% based upon its expectation that it will not pay dividends for the foreseeable future. </link:footnote>
<link:footnote xlink:type="resource" xlink:label="Footnote_14" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Management determines the probability of future stock offering at each evaluation date. </link:footnote>
<link:footnote xlink:type="resource" xlink:label="Footnote_17" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US"> Represents the estimated offering price in future offerings as determined by management. </link:footnote>
</link:footnoteLink>
</xbrli:xbrl>

4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/29/24  Actinium Pharmaceuticals, Inc.    10-K       12/31/23   65:17M                                    EdgarAgents LLC/FA
 3/31/23  Actinium Pharmaceuticals, Inc.    10-K       12/31/22   60:8.1M                                   EdgarAgents LLC/FA
 3/25/22  Actinium Pharmaceuticals, Inc.    10-K       12/31/21   56:4.2M                                   EdgarAgents LLC/FA
 3/31/21  Actinium Pharmaceuticals, Inc.    10-K       12/31/20   56:3.5M                                   EdgarAgents LLC/FA
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