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 . we were incorporated under the laws of the state of nevada on october 6 , 1997. we were a shell entity that was in the market for a merger with an appropriate operating company . on december 28 , 2012 , we entered into a transaction ( the “ share exchange ” ) , pursuant to which the company acquired 21 % of the issued and outstanding equity securities of actinium pharmaceuticals , inc. ( “ actinium ” ) , in exchange for the issuance of 4,333,489 shares of common stock , par value $ 0.001 per share , of the company ( the “ common stock ” ) , which were issued to the shareholders of actinium . as a result of the share exchange , the former shareholders of actinium became the controlling shareholders of the company . the share exchange was accounted for as a reverse takeover/recapitalization effected by a share exchange , wherein actinium is considered the acquirer for accounting and financial reporting purposes . as a result of the share exchange , the company assumed the business and operations of actinium . on march 11 , 2013 , actinium corporation continued its share exchange with us , whereby we acquired an additional 36 % of the issued and outstanding capital stock of actinium corporation from the actinium corporation shareholders in exchange for the issuance of 7,756,840 shares of common stock of us to the actinium shareholders . 40 on april 11 , 2013 , the change of domicile from the state of nevada to the state of delaware and the change of cactus ventures , inc. 's name from cactus ventures , inc. to actinium pharmaceuticals , inc. became effective in accordance with articles of merger filed with the state of nevada and a certificate of merger filed with the state of delaware . in connection with the name change we also changed ( i ) the name of our subsidiary actinium pharmaceuticals , inc. to actinium corporation , ( ii ) our par value to $ 0.001 per share , and ( iii ) the number of authorized shares of preferred stock to 10 million shares . effective april 18 , 2013 our new trading symbol became atnm . on september 25 , 2013 , we merged with our subsidiary , actinium corporation , and we were the surviving entity of the merger . on august 22 , 2013 , actinium corporation continued its share exchange with us , whereby we acquired an additional 38.2 % of the issued and outstanding capital stock of actinium corporation from the actinium corporation shareholders in exchange for the issuance of 6,383,475 shares of common stock of us to the actinium shareholders . on september 25 , 2013 in accordance with a certificate of ownership merging actinium corporation into us , we merged with actinium corporation , and actinium corporation ceased to exist . as a result of the merger , actinium corporation stock owned by us has been cancelled and each share of actinium corporation not owned by us was exchanged for 0.333 shares of our common stock . on march 26 , 2014 , we began trading our common stock on the nyse mkt market . plan of operation we develop drugs for the treatment of cancer with the intent to cure or significantly improve survival of the affected patients . none of our drugs have been approved for sale in the united states or elsewhere . we have no commercial operations in sales or marketing of our products . all our product candidates are under development . in order to market and sell our products we must conduct clinical trials on patients and obtain regulatory approvals from appropriate regulatory agencies like the food and drug administration ( fda ) in the united states and similar agencies elsewhere in the world . our products under development are monoclonal antibodies labeled with radioisotopes . we have one program with an antibody labeled with a beta emitter and several programs based on a proprietary patent protected platform technology called apit . our apit technology is based on attaching actinium 225 ( ac-225 ) or bismuth 213 ( bi-213 ) alpha emitting radioisotopes to monoclonal antibodies . alpha emitting radioisotopes are unstable chemical elements that decay by releasing alpha particles . alpha particles can kill any cell in the immediate proximity of where they are released . monoclonal antibodies are genetically engineered proteins that specifically target certain cells , including cancer cells . it is crucial for the success of our drug candidates to contain monoclonal antibodies that can successfully seek cancer cells and can kill them with the attached isotope while not harming nearby normal cells . we do not have technology and operational capabilities to develop and manufacture such monoclonal antibodies and we therefore rely on collaboration with third parties to gain access to such monoclonal antibodies . we have secured rights to two monoclonal antibodies , hum195 ( lintuzumab ) , in 2003 through a collaborative licensing agreement with abbvie biotherapeutics corp and bc8 in 2012 with the fred hutchinson cancer research center ( “ fhcrc ” ) . story_separator_special_tag 44 story_separator_special_tag cellpadding= `` 0 `` cellspacing= `` 0 `` style= `` border-collapse : collapse ; width : 100 % ; font-size : 10pt `` > 45 seasonality we do not have a seasonal business cycle . our operating results are generally derived evenly throughout the calendar year . critical accounting policies our financial statements have been prepared in accordance with accounting principles generally accepted in the united states . to prepare these financial statements , we must make estimates and assumptions that affect the reported amounts of assets and liabilities . these estimates also affect our expenses . judgments must also be made about the disclosure of contingent liabilities . actual results could be significantly different from these estimates . we believe that the following discussion addresses the accounting policies that are necessary to understand and evaluate our reported financial results . derivatives all derivatives are recorded at fair value and recorded 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 . fair value of financial instruments 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 : ● 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 . ● 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 . ● 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 . income taxes 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 . research and development costs 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 . share-based payments we estimate the fair value of each stock option award at the grant date by using the black-scholes option pricing model and common shares based on the market price of the company 's common stock on the date of the share grant . 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 , we reduce 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 . 46 recent accounting pronouncements 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. the adoption of asu 2015-03 has no impact on the company 's consolidated financial statements . management does not believe that any other recently issued , but not yet effective accounting pronouncements , if adopted , would have a material effect on the accompanying consolidated financial statements . subsequent event 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 . on january 22 , 2016 , 500 shares of restricted stock vested and the company issued 500 shares of common stock to an employee . on january 27 , 2016 , the company issued 114,169 shares of common stock for the conversion of 164,580 warrants . on february 16 , 2016 , the company entered into a service agreement with medpace , inc. to be its clinical research organization for the phase 3 trial of iomab - b. the total project is estimated to

liquidity and capital resources we have financed our operations primarily through sales of the company 's stock . we did not have any cash or cash equivalents held in financial institutions located outside of the united states as of december 31 , 2015 and 2014. we do not anticipate this practice will change in the future . the following tables sets forth selected cash flow information for the periods indicated : replace_table_token_9_th for the year ended december 31 , 2015 and 2014 net cash used in operating activities was approximately $ 18.5 million for the year ended december 31 , 2015 compared to approximately $ 14.3 million used in operations for the same period in 2014. cash used in operations increased due to the increase in spending related to the preparations for and eventual launch and conduct of a multicenter clinical trial and an increase in spending related to professional fees combined with an increase in payroll-related expenses . net cash used in investing activities was approximately $ 48,000 for the year ended december 31 , 2015 compared to approximately $ 0.2 million used in investing activities for the same period in 2014. cash used in investing activities decreased due to less purchase of computers and lab equipment during 2015 compared to the prior year .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources we have financed our operations primarily through sales of the company 's stock . we did not have any cash or cash equivalents held in financial institutions located outside of the united states as of december 31 , 2015 and 2014. we do not anticipate this practice will change in the future . the following tables sets forth selected cash flow information for the periods indicated : replace_table_token_9_th for the year ended december 31 , 2015 and 2014 net cash used in operating activities was approximately $ 18.5 million for the year ended december 31 , 2015 compared to approximately $ 14.3 million used in operations for the same period in 2014. cash used in operations increased due to the increase in spending related to the preparations for and eventual launch and conduct of a multicenter clinical trial and an increase in spending related to professional fees combined with an increase in payroll-related expenses . net cash used in investing activities was approximately $ 48,000 for the year ended december 31 , 2015 compared to approximately $ 0.2 million used in investing activities for the same period in 2014. cash used in investing activities decreased due to less purchase of computers and lab equipment during 2015 compared to the prior year .
```    
 Suspicious Activity Report : 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 . we were incorporated under the laws of the state of nevada on october 6 , 1997. we were a shell entity that was in the market for a merger with an appropriate operating company . on december 28 , 2012 , we entered into a transaction ( the “ share exchange ” ) , pursuant to which the company acquired 21 % of the issued and outstanding equity securities of actinium pharmaceuticals , inc. ( “ actinium ” ) , in exchange for the issuance of 4,333,489 shares of common stock , par value $ 0.001 per share , of the company ( the “ common stock ” ) , which were issued to the shareholders of actinium . as a result of the share exchange , the former shareholders of actinium became the controlling shareholders of the company . the share exchange was accounted for as a reverse takeover/recapitalization effected by a share exchange , wherein actinium is considered the acquirer for accounting and financial reporting purposes . as a result of the share exchange , the company assumed the business and operations of actinium . on march 11 , 2013 , actinium corporation continued its share exchange with us , whereby we acquired an additional 36 % of the issued and outstanding capital stock of actinium corporation from the actinium corporation shareholders in exchange for the issuance of 7,756,840 shares of common stock of us to the actinium shareholders . 40 on april 11 , 2013 , the change of domicile from the state of nevada to the state of delaware and the change of cactus ventures , inc. 's name from cactus ventures , inc. to actinium pharmaceuticals , inc. became effective in accordance with articles of merger filed with the state of nevada and a certificate of merger filed with the state of delaware . in connection with the name change we also changed ( i ) the name of our subsidiary actinium pharmaceuticals , inc. to actinium corporation , ( ii ) our par value to $ 0.001 per share , and ( iii ) the number of authorized shares of preferred stock to 10 million shares . effective april 18 , 2013 our new trading symbol became atnm . on september 25 , 2013 , we merged with our subsidiary , actinium corporation , and we were the surviving entity of the merger . on august 22 , 2013 , actinium corporation continued its share exchange with us , whereby we acquired an additional 38.2 % of the issued and outstanding capital stock of actinium corporation from the actinium corporation shareholders in exchange for the issuance of 6,383,475 shares of common stock of us to the actinium shareholders . on september 25 , 2013 in accordance with a certificate of ownership merging actinium corporation into us , we merged with actinium corporation , and actinium corporation ceased to exist . as a result of the merger , actinium corporation stock owned by us has been cancelled and each share of actinium corporation not owned by us was exchanged for 0.333 shares of our common stock . on march 26 , 2014 , we began trading our common stock on the nyse mkt market . plan of operation we develop drugs for the treatment of cancer with the intent to cure or significantly improve survival of the affected patients . none of our drugs have been approved for sale in the united states or elsewhere . we have no commercial operations in sales or marketing of our products . all our product candidates are under development . in order to market and sell our products we must conduct clinical trials on patients and obtain regulatory approvals from appropriate regulatory agencies like the food and drug administration ( fda ) in the united states and similar agencies elsewhere in the world . our products under development are monoclonal antibodies labeled with radioisotopes . we have one program with an antibody labeled with a beta emitter and several programs based on a proprietary patent protected platform technology called apit . our apit technology is based on attaching actinium 225 ( ac-225 ) or bismuth 213 ( bi-213 ) alpha emitting radioisotopes to monoclonal antibodies . alpha emitting radioisotopes are unstable chemical elements that decay by releasing alpha particles . alpha particles can kill any cell in the immediate proximity of where they are released . monoclonal antibodies are genetically engineered proteins that specifically target certain cells , including cancer cells . it is crucial for the success of our drug candidates to contain monoclonal antibodies that can successfully seek cancer cells and can kill them with the attached isotope while not harming nearby normal cells . we do not have technology and operational capabilities to develop and manufacture such monoclonal antibodies and we therefore rely on collaboration with third parties to gain access to such monoclonal antibodies . we have secured rights to two monoclonal antibodies , hum195 ( lintuzumab ) , in 2003 through a collaborative licensing agreement with abbvie biotherapeutics corp and bc8 in 2012 with the fred hutchinson cancer research center ( “ fhcrc ” ) . story_separator_special_tag 44 story_separator_special_tag cellpadding= `` 0 `` cellspacing= `` 0 `` style= `` border-collapse : collapse ; width : 100 % ; font-size : 10pt `` > 45 seasonality we do not have a seasonal business cycle . our operating results are generally derived evenly throughout the calendar year . critical accounting policies our financial statements have been prepared in accordance with accounting principles generally accepted in the united states . to prepare these financial statements , we must make estimates and assumptions that affect the reported amounts of assets and liabilities . these estimates also affect our expenses . judgments must also be made about the disclosure of contingent liabilities . actual results could be significantly different from these estimates . we believe that the following discussion addresses the accounting policies that are necessary to understand and evaluate our reported financial results . derivatives all derivatives are recorded at fair value and recorded 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 . fair value of financial instruments 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 : ● 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 . ● 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 . ● 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 . income taxes 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 . research and development costs 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 . share-based payments we estimate the fair value of each stock option award at the grant date by using the black-scholes option pricing model and common shares based on the market price of the company 's common stock on the date of the share grant . 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 , we reduce 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 . 46 recent accounting pronouncements 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. the adoption of asu 2015-03 has no impact on the company 's consolidated financial statements . management does not believe that any other recently issued , but not yet effective accounting pronouncements , if adopted , would have a material effect on the accompanying consolidated financial statements . subsequent event 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 . on january 22 , 2016 , 500 shares of restricted stock vested and the company issued 500 shares of common stock to an employee . on january 27 , 2016 , the company issued 114,169 shares of common stock for the conversion of 164,580 warrants . on february 16 , 2016 , the company entered into a service agreement with medpace , inc. to be its clinical research organization for the phase 3 trial of iomab - b. the total project is estimated to

