Schedule of significant components of the Company's deferred tax assets |
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|
December 31,
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|
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2015
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2014
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Deferred tax assets:
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Net operating loss carryforwards
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$
|
11,649,441
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|
$
|
9,245,934
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|
Research and development credits
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6,824,974
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5,101,755
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Research and development expenses capitalized for tax purposes
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61,073,917
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43,038,057
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Deferred rent
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103,454
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|
|
129,998
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Depreciation
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|
|
552,235
|
|
|
476,799
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|
Other temporary differences
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653,078
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|
458,413
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Total deferred tax assets
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|
|
80,857,099
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|
58,450,956
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Deferred tax liabilities:
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|
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Prepaid expenses
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|
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(81,706
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)
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|
(90,385
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)
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|
|
|
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Total deferred tax liabilities
|
|
|
(81,706
|
)
|
|
(90,385
|
)
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|
|
|
|
|
|
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Net deferred tax assets
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|
|
80,775,393
|
|
|
58,360,571
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|
Less valuation allowance
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|
|
(80,775,393
|
)
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|
(58,360,571
|
)
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|
|
|
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Net deferred tax asset
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|
$
|
—
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|
$
|
—
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