Annual report pursuant to section 13 and 15(d)

Stockholder's Equity (Tables)

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Stockholder's Equity (Tables)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
Schedule of Asset and Liabilities

The Company was incorporated in the State of Delaware on March 23, 2006. In May 2006, Hawaii Biotech, Inc. contributed its anti-inflammatory, small molecule line of business into the Company which consisted of the following assets and liabilities:

 

Cash   $ 7,007,371  
Due from Hawaii Biotech, Inc.     1,000,000  
Prepaid expenses     14,279  
Employee note receivable     288,576  
Fixed assets, net of depreciation of $181,905     388,165  
Other assets     606  
Total assets     8,698,997  
         
Accounts and accrued expenses payable     138,921  
Due to Hawaii Biotech, Inc.     70,279  
Equipment leases payable     181,203  
Total liabilities     390,403  
Net assets transferred   $ 8,308,594  

Schedule of Issued Common Stock Pursuant To Exercise Of Stock Options

The Company issued common stock pursuant to the exercise of stock options as follows:

 

Year   Common shares issued     Average Price     Amount Realized  
2006     6,842     $ 0.044     $ 304  
2007     20,000     $ 0.070     $ 1,400  
2008     14,285     $ 0.070     $ 1,000