Quarterly report pursuant to Section 13 or 15(d)

Liquidity

v2.4.0.8
Liquidity
6 Months Ended
Jun. 30, 2013
Liquidity [Abstract]  
Liquidity
(2) Liquidity
 
The Company generated net income allocable to common stockholders of $4,221,000 for the six months ended June 30, 2013 and a loss of $12,531,000 for the year ended December 31, 2012. At June 30, 2013, our working capital deficit was $5,422,000. Management believes that our current cash, revenues from MuGard sales and expected license fees should fund our expected burn rate into the first quarter of 2014. We will require additional funds to continue operations. These funds are expected to come from royalties, the future sales of equity and/or license agreements. If we are unable to obtain adequate royalties or capital funding in the future or enter into future license agreements for our products, we may not be able to continue as a going concern, which would have an adverse effect on our business and operations, and investors’ investment in us may decline.