75% + Neuralstem, Inc. Consolidated Balance Sheets December 31, 2014 2013 $ $ 16,846,052 ASSETS CURRENT ASSETS Cash and cash equivalents Short term investments Trade and other receivables Deferred financing fees, current portion Prepaid expenses Total current assets 12,518,980 15,007,478 225,524 135,694 274,106 28,161,782 10,000 507,334 255,733 17,619,119 Property and equipment, net Patents, net Deferred financing fees, net of current portion Other assets Total assets 301,265 1,233,172 89,143 58,713 29,844,075 230,971 1,137,701 360,848 64,897 19,413,536 $ $ $ LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses Accrued bonuses Current portion of long-term debt, net of discount Derivative instruments Other current liabilities Total current liabilities 2,504,978 646,960 730,012 1,196,190 465,868 2,763,121 1,417,527 93,426 5,936,132 126,745 4,008,695 Long-term debt, net of discount and current portion Other long term liabilities Total liabilities 8,056,470 59,574 12,124,739 4,934,210 124,995 10,995,337 Commitments and contingencies (Note 10) STOCKHOLDERS' EQUITY Preferred stock, 7,000,000 shares authorized, zero shares issued and outstanding Common stock, $0.01 par value; 300 million shares authorized, 87,789,679 and 77,886,031 shares issued and outstanding in 2014 and 2013, respectively Additional paid-in capital Accumulated other comprehensive income Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity 877,897 167,890,220 6,000 (151,054,781 17,719,336 29,844,075 778,860 136,058,135 7,241 (128,426,037) 8,418,199 19,413,536 $ See accompanying notes to consolidated financial statements. . (a) The Company engages in significant research and development activities. What account on its Balance Sheet is currently affected the most by those research and development activities? Explain. (b) The Company follows U.S. GAAP. If the Company instead followed IFRS, would its long-term assets likely be higher, lower, or the same as currently reported? Explain