in may 2013 , the speed of ibiolaunch production was demonstrated when a third party laboratory using the ibiolaunch platform was able , in a 21 day period from receipt of antigen sequence information to purification of recombinant protein , to successfully produce a vaccine candidate for the newly emerged h7n9 influenza virus . we believe the successful production of this vaccine candidate demonstrates , among other things , that it is possible to utilize the ibiolaunch platform to produce vaccine doses for emergency use against pandemic and bioterrorism threats in weeks rather than the months necessary with the use of engineered or attenuated virus strains . further , we believe that the capital investment required to construct facilities that will manufacture proteins on the ibiolaunch platform will be substantially less than the capital investment which would be required for the construction of similar capacity facilities utilizing conventional manufacturing methods dependent upon animal cells , bacterial fermenters and chicken eggs . additionally , operating costs in a manufacturing facility using the ibiolaunch platform are expected to be reduced significantly in comparison to conventional manufacturing processes due to the rapid nature of the ibiolaunch production cycle and the elimination of the expenses associated with the operation and maintenance of bioreactors , fermenters , sterile liquid handling systems and other expensive equipment which is not required in connection with the use of the ibiolaunch platform . the ability of the ibiolaunch platform to manufacture proteins that are difficult or impossible to produce on a commercially practicable basis with conventional manufacturing systems has been demonstrated by the production of antigens for vaccine candidates for both hookworm and malaria . these ibiolaunch-produced vaccine candidates are being developed by the sabin institute and the bill and melinda gates foundation , respectively . phase 1 clinical trials for each have commenced . in addition to the clinical development of these vaccine candidates , bio-manguinhos/fiocruz , or fiocruz , a unit of the oswaldo cruz foundation , a central agency of the ministry of health of brazil , is sponsoring the development an ibiolaunch-produced yellow fever vaccine to replace the vaccine it currently makes in chicken eggs for the populations of brazil and more than 20 other nations . these advances are occurring subsequent to the demonstration of safety of ibiolaunch-produced vaccine candidates against each of the h1n1 “ swine ” flu virus and the h5n1 avian flu virus in successfully completed phase 1 clinical trials . we developed our ibiomodulator technology based on the use of a modified form of the cellulose degrading enzyme lichenase , or lickm , from clostridium thermocellum , a thermophilic and anaerobic bacterium . ibiomodulator enables an adjuvant component to be fused directly to preferred recombinant antigens to create a single protein for use in vaccine applications . multiple proteins or antigenic domains of proteins can be fused to various portions of lickm to enhance vaccine performance . the ibiomodulator platform has been shown to be applicable to a range of vaccine proteins and can significantly modify the immune response to a vaccine in two important ways . animal efficacy studies have demonstrated that it can increase the strength of the initial immune response to a vaccine antigen ( as measured by antibody titer ) and also extend the duration of the immune response . these results suggest the possibility that use of the ibiomodulator platform may lower vaccine antigen requirements and enable fewer doses to establish prolonged protective immunity . we believe that the ability to provide better immune response and longer-term protection with fewer or zero booster inoculations would add significant value to a vaccine by reducing the overall costs and logistical difficulties of its use . our near-term focus is to realize two key objectives : ( 1 ) the establishment of additional business arrangements pursuant to which commercial , government and not-for-profit licensees will utilize ibiolaunch and ibiomodulator in connection with the production and development of therapeutic proteins and vaccine products ; and ( 2 ) the further development of select product candidates based upon or enhanced by our technology platforms . these objectives are the core components of our strategy to commercialize the proprietary technology we have developed and validated . our strategy to engage in partnering and out-licensing of our technology platforms seeks to preserve the opportunity for ibio to share in the successful development and commercialization of product candidates by our licensees while enhancing our own capital and financial resources for development , alone or through commercial alliances with others , of high-potential product candidates based upon our platforms . in addition to financial resources we may receive in connection with the license of our platform technologies , we believe that successful development by third party licensees of ibiolaunch-derived and ibiomodulator-enhanced product candidates will further validate our technology , increase awareness of the advantages that may be realized by the use of such platforms and promote broader adoption of our technologies by additional third parties . the advancement of ibiolaunch-derived and ibiomodulator-enhanced product candidates is a key element of our strategy . we believe that selecting and developing products which individually have substantial commercial value and are representative of classes of pharmaceuticals that can be successfully produced using either or both of our technology platforms will allow us to maximize the near and longer term value of each platform while exploiting individual product opportunities . to realize this result , we are currently advancing designated product candidates through the preclinical phase of development and undertaking the studies required for submission of investigational new drug applications , or inds . the most advanced product candidate we are currently internally advancing through preclinical ind enabling studies is a proprietary recombinant protein we call ibio-cfb03 for treatment of idiopathic pulmonary fibrosis , systemic sclerosis , and potentially other fibrotic diseases . story_separator_special_tag to the extent that we anticipate the opportunity to realize additional value , we may elect to further the development of this or other product candidates through the early stages of clinical development before seeking to license the product candidate to other industry participants for late stage clinical development and if successful , commercialization . 29 results of operations revenue gross revenue for 2015 and 2014 was approximately $ 1.85 million and $ 205,000 , respectively . revenue has been attributable to technology services provided to fiocruz in connection with the development by fiocruz of a yellow fever vaccine using our ibiolaunch technology . to fulfill our obligations , we engage fraunhofer usa inc. as a subcontractor to perform the services required . during 2013 , the company , fiocruz and fraunhofer were awaiting approval by the brazilian government of a contract amendment reflecting the agreed modifications to the work plan . during this waiting period , no revenues were recognized by the company in connection with services provided to fiocruz through the subcontract arrangement with fraunhofer . in june 2014 , the company , fiocruz and fraunhofer amended their collaboration and license agreement reflecting the agreed modifications to the work plan and work was resumed by fraunhofer for the company to continue development of a yellow fever vaccine using the company 's ibiolaunch technology . research and development expenses research and development expenses for 2015 were $ 3.5 million . research and development expenses for 2014 were approximately ( $ 150,000 ) . however , research and development expenses for 2014 included ( i ) a credit of $ 1.04 million resulting from the reversal of expenses accrued through june 30 , 2013 under the tta prior to the settlement agreement with fraunhofer completed in september 2013 and ( ii ) the reversal of expenses totaling $ 1.007 million incurred during 2013 as the result of the amendment discussed above . adjusting for this , research and development spending was approximately $ 1.9 million for 2014 , an increase of approximately $ 1.6 million . the increase was primarily related to the modifications to the work plan described above . general and administrative expenses general and administrative expenses for 2015 were approximately $ 5.0 million , as compared to approximately $ 4.2 million for 2014. however , general and administrative expenses for the prior year included ( i ) a credit of $ 700,000 resulting from the reversal of royalty expenses accrued through june 30 , 2013 under the tta prior to the settlement agreement with fraunhofer completed in september 2013 and ( ii ) the write-off of an accounts receivable of $ 1.007 million recorded in 2013 as a result of the amendment discussed above . adjusting for this , general and administrative spending was approximately $ 3.9 million for 2014 , an increase in the current period of approximately $ 1.1 million over the adjusted results of 2014. the increase is attributable primarily to legal fees . general and administrative expenses principally include officer and employee salaries and benefits , legal and accounting fees , insurance , consulting services , investor and public relations services , and other costs associated with being a publicly traded company . other income ( expense ) other income for 2015 was approximately $ 41,000 , as compared to other income of approximately $ 174,000 for 2014. however , other income for the prior period included a credit of $ 122,000 resulting from the reversal in interest expense accrued through june 30 , 2013 under the tta prior to the settlement agreement with fraunhofer completed in september 2013. adjusting for this , other income was approximately $ 52,000 for the prior period . story_separator_special_tag text-indent : 0.5in `` > our financial statements are presented in accordance with accounting principles that are generally accepted in the u.s. ( “ u.s . gaap ” ) . all applicable u.s. gaap accounting standards effective as of june 30 , 2015 have been taken into consideration in preparing the financial statements . the preparation financial statements requires estimates and assumptions that affect the reported amounts of assets , liabilities , revenues , expenses and related disclosures . some of those estimates are subjective and complex , and , consequently , actual results could differ from those estimates . the following accounting policies and estimates have been highlighted as significant because changes to certain judgments and assumptions inherent in these policies could affect our financial statements . 31 we base our estimates , to the extent possible , on historical experience . historical information is modified as appropriate based on current business factors and various assumptions that we believe are necessary to form a basis for making judgments about the carrying value of assets and liabilities . we evaluate our estimates on an ongoing basis and make changes when necessary . actual results could differ from our estimates . intangible assets the company accounts for intangible assets at their historical cost and records amortization utilizing the straight-line method based upon their estimated useful lives . patents are amortized over a period of ten years and other intellectual property is amortized over a period from 16 to 23 years . the company reviews the carrying value of its intangible assets for impairment whenever events or changes in business circumstances indicate the carrying amount of such assets may not be fully recoverable . evaluating for impairment requires judgment , and recoverability is assessed by comparing the projected undiscounted net cash flows of the assets over the remaining useful life to the carrying amount . impairments , if any , are based on the excess of the carrying amount over the fair value of the assets . revenue recognition the company recognizes revenue when persuasive evidence of an arrangement exists , delivery has occurred , the fee is fixed or determinable , and collectability is reasonably assured . deferred revenue represents billings to a customer to whom the services have

liquidity and capital resources as of june 30 , 2015 , we had cash of $ 9.5 million as compared to $ 3.6 million as of june 30 , 2014 . 30 net cash used in operating activities net cash used in operating activities was $ 4.7 million . the decrease in cash was primarily attributable to funding the loss for the period . net cash used in investing activities net cash used in investing activities was approximately $ 215,000. cash used in investing activities was attributable to additions to intangible assets of $ 202,000 and purchases of fixed assets for ibio brazil of $ 13,000. net cash provided by financing activities net cash provided by financing activities was $ 10.9 million . aspire capital purchased 8,768,806 shares of common stock for $ 10 million pursuant to the terms of the common stock purchase agreement entered into with aspire capital on august 25 , 2014 ( the “ 2014 aspire purchase agreement ” ) , fulfilling its commitment under the 2014 aspire purchase agreement . in addition , the company issued 1,663,000 shares of common stock for the exercise of warrants and received proceeds of approximately $ 867,000. on may 15 , 2015 , the company entered into a common stock purchase agreement ( the “ 2015 aspire purchase agreement ” ) with aspire capital described under item 1. business – overview – recent business highlights , pursuant to which the company has the option to require aspire capital to purchase up to an aggregate of $ 15.0 million of shares of its common stock upon and subject to the terms of the 2015 aspire purchase agreement . as of the date of the filing of this report , aspire capital has not purchased any shares under 2015 aspire purchase agreement .


 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 as of june 30 , 2015 , we had cash of $ 9.5 million as compared to $ 3.6 million as of june 30 , 2014 . 30 net cash used in operating activities net cash used in operating activities was $ 4.7 million . the decrease in cash was primarily attributable to funding the loss for the period . net cash used in investing activities net cash used in investing activities was approximately $ 215,000. cash used in investing activities was attributable to additions to intangible assets of $ 202,000 and purchases of fixed assets for ibio brazil of $ 13,000. net cash provided by financing activities net cash provided by financing activities was $ 10.9 million . aspire capital purchased 8,768,806 shares of common stock for $ 10 million pursuant to the terms of the common stock purchase agreement entered into with aspire capital on august 25 , 2014 ( the “ 2014 aspire purchase agreement ” ) , fulfilling its commitment under the 2014 aspire purchase agreement . in addition , the company issued 1,663,000 shares of common stock for the exercise of warrants and received proceeds of approximately $ 867,000. on may 15 , 2015 , the company entered into a common stock purchase agreement ( the “ 2015 aspire purchase agreement ” ) with aspire capital described under item 1. business – overview – recent business highlights , pursuant to which the company has the option to require aspire capital to purchase up to an aggregate of $ 15.0 million of shares of its common stock upon and subject to the terms of the 2015 aspire purchase agreement . as of the date of the filing of this report , aspire capital has not purchased any shares under 2015 aspire purchase agreement .
```    
 Suspicious Activity Report : in may 2013 , the speed of ibiolaunch production was demonstrated when a third party laboratory using the ibiolaunch platform was able , in a 21 day period from receipt of antigen sequence information to purification of recombinant protein , to successfully produce a vaccine candidate for the newly emerged h7n9 influenza virus . we believe the successful production of this vaccine candidate demonstrates , among other things , that it is possible to utilize the ibiolaunch platform to produce vaccine doses for emergency use against pandemic and bioterrorism threats in weeks rather than the months necessary with the use of engineered or attenuated virus strains . further , we believe that the capital investment required to construct facilities that will manufacture proteins on the ibiolaunch platform will be substantially less than the capital investment which would be required for the construction of similar capacity facilities utilizing conventional manufacturing methods dependent upon animal cells , bacterial fermenters and chicken eggs . additionally , operating costs in a manufacturing facility using the ibiolaunch platform are expected to be reduced significantly in comparison to conventional manufacturing processes due to the rapid nature of the ibiolaunch production cycle and the elimination of the expenses associated with the operation and maintenance of bioreactors , fermenters , sterile liquid handling systems and other expensive equipment which is not required in connection with the use of the ibiolaunch platform . the ability of the ibiolaunch platform to manufacture proteins that are difficult or impossible to produce on a commercially practicable basis with conventional manufacturing systems has been demonstrated by the production of antigens for vaccine candidates for both hookworm and malaria . these ibiolaunch-produced vaccine candidates are being developed by the sabin institute and the bill and melinda gates foundation , respectively . phase 1 clinical trials for each have commenced . in addition to the clinical development of these vaccine candidates , bio-manguinhos/fiocruz , or fiocruz , a unit of the oswaldo cruz foundation , a central agency of the ministry of health of brazil , is sponsoring the development an ibiolaunch-produced yellow fever vaccine to replace the vaccine it currently makes in chicken eggs for the populations of brazil and more than 20 other nations . these advances are occurring subsequent to the demonstration of safety of ibiolaunch-produced vaccine candidates against each of the h1n1 “ swine ” flu virus and the h5n1 avian flu virus in successfully completed phase 1 clinical trials . we developed our ibiomodulator technology based on the use of a modified form of the cellulose degrading enzyme lichenase , or lickm , from clostridium thermocellum , a thermophilic and anaerobic bacterium . ibiomodulator enables an adjuvant component to be fused directly to preferred recombinant antigens to create a single protein for use in vaccine applications . multiple proteins or antigenic domains of proteins can be fused to various portions of lickm to enhance vaccine performance . the ibiomodulator platform has been shown to be applicable to a range of vaccine proteins and can significantly modify the immune response to a vaccine in two important ways . animal efficacy studies have demonstrated that it can increase the strength of the initial immune response to a vaccine antigen ( as measured by antibody titer ) and also extend the duration of the immune response . these results suggest the possibility that use of the ibiomodulator platform may lower vaccine antigen requirements and enable fewer doses to establish prolonged protective immunity . we believe that the ability to provide better immune response and longer-term protection with fewer or zero booster inoculations would add significant value to a vaccine by reducing the overall costs and logistical difficulties of its use . our near-term focus is to realize two key objectives : ( 1 ) the establishment of additional business arrangements pursuant to which commercial , government and not-for-profit licensees will utilize ibiolaunch and ibiomodulator in connection with the production and development of therapeutic proteins and vaccine products ; and ( 2 ) the further development of select product candidates based upon or enhanced by our technology platforms . these objectives are the core components of our strategy to commercialize the proprietary technology we have developed and validated . our strategy to engage in partnering and out-licensing of our technology platforms seeks to preserve the opportunity for ibio to share in the successful development and commercialization of product candidates by our licensees while enhancing our own capital and financial resources for development , alone or through commercial alliances with others , of high-potential product candidates based upon our platforms . in addition to financial resources we may receive in connection with the license of our platform technologies , we believe that successful development by third party licensees of ibiolaunch-derived and ibiomodulator-enhanced product candidates will further validate our technology , increase awareness of the advantages that may be realized by the use of such platforms and promote broader adoption of our technologies by additional third parties . the advancement of ibiolaunch-derived and ibiomodulator-enhanced product candidates is a key element of our strategy . we believe that selecting and developing products which individually have substantial commercial value and are representative of classes of pharmaceuticals that can be successfully produced using either or both of our technology platforms will allow us to maximize the near and longer term value of each platform while exploiting individual product opportunities . to realize this result , we are currently advancing designated product candidates through the preclinical phase of development and undertaking the studies required for submission of investigational new drug applications , or inds . the most advanced product candidate we are currently internally advancing through preclinical ind enabling studies is a proprietary recombinant protein we call ibio-cfb03 for treatment of idiopathic pulmonary fibrosis , systemic sclerosis , and potentially other fibrotic diseases . story_separator_special_tag to the extent that we anticipate the opportunity to realize additional value , we may elect to further the development of this or other product candidates through the early stages of clinical development before seeking to license the product candidate to other industry participants for late stage clinical development and if successful , commercialization . 29 results of operations revenue gross revenue for 2015 and 2014 was approximately $ 1.85 million and $ 205,000 , respectively . revenue has been attributable to technology services provided to fiocruz in connection with the development by fiocruz of a yellow fever vaccine using our ibiolaunch technology . to fulfill our obligations , we engage fraunhofer usa inc. as a subcontractor to perform the services required . during 2013 , the company , fiocruz and fraunhofer were awaiting approval by the brazilian government of a contract amendment reflecting the agreed modifications to the work plan . during this waiting period , no revenues were recognized by the company in connection with services provided to fiocruz through the subcontract arrangement with fraunhofer . in june 2014 , the company , fiocruz and fraunhofer amended their collaboration and license agreement reflecting the agreed modifications to the work plan and work was resumed by fraunhofer for the company to continue development of a yellow fever vaccine using the company 's ibiolaunch technology . research and development expenses research and development expenses for 2015 were $ 3.5 million . research and development expenses for 2014 were approximately ( $ 150,000 ) . however , research and development expenses for 2014 included ( i ) a credit of $ 1.04 million resulting from the reversal of expenses accrued through june 30 , 2013 under the tta prior to the settlement agreement with fraunhofer completed in september 2013 and ( ii ) the reversal of expenses totaling $ 1.007 million incurred during 2013 as the result of the amendment discussed above . adjusting for this , research and development spending was approximately $ 1.9 million for 2014 , an increase of approximately $ 1.6 million . the increase was primarily related to the modifications to the work plan described above . general and administrative expenses general and administrative expenses for 2015 were approximately $ 5.0 million , as compared to approximately $ 4.2 million for 2014. however , general and administrative expenses for the prior year included ( i ) a credit of $ 700,000 resulting from the reversal of royalty expenses accrued through june 30 , 2013 under the tta prior to the settlement agreement with fraunhofer completed in september 2013 and ( ii ) the write-off of an accounts receivable of $ 1.007 million recorded in 2013 as a result of the amendment discussed above . adjusting for this , general and administrative spending was approximately $ 3.9 million for 2014 , an increase in the current period of approximately $ 1.1 million over the adjusted results of 2014. the increase is attributable primarily to legal fees . general and administrative expenses principally include officer and employee salaries and benefits , legal and accounting fees , insurance , consulting services , investor and public relations services , and other costs associated with being a publicly traded company . other income ( expense ) other income for 2015 was approximately $ 41,000 , as compared to other income of approximately $ 174,000 for 2014. however , other income for the prior period included a credit of $ 122,000 resulting from the reversal in interest expense accrued through june 30 , 2013 under the tta prior to the settlement agreement with fraunhofer completed in september 2013. adjusting for this , other income was approximately $ 52,000 for the prior period . story_separator_special_tag text-indent : 0.5in `` > our financial statements are presented in accordance with accounting principles that are generally accepted in the u.s. ( “ u.s . gaap ” ) . all applicable u.s. gaap accounting standards effective as of june 30 , 2015 have been taken into consideration in preparing the financial statements . the preparation financial statements requires estimates and assumptions that affect the reported amounts of assets , liabilities , revenues , expenses and related disclosures . some of those estimates are subjective and complex , and , consequently , actual results could differ from those estimates . the following accounting policies and estimates have been highlighted as significant because changes to certain judgments and assumptions inherent in these policies could affect our financial statements . 31 we base our estimates , to the extent possible , on historical experience . historical information is modified as appropriate based on current business factors and various assumptions that we believe are necessary to form a basis for making judgments about the carrying value of assets and liabilities . we evaluate our estimates on an ongoing basis and make changes when necessary . actual results could differ from our estimates . intangible assets the company accounts for intangible assets at their historical cost and records amortization utilizing the straight-line method based upon their estimated useful lives . patents are amortized over a period of ten years and other intellectual property is amortized over a period from 16 to 23 years . the company reviews the carrying value of its intangible assets for impairment whenever events or changes in business circumstances indicate the carrying amount of such assets may not be fully recoverable . evaluating for impairment requires judgment , and recoverability is assessed by comparing the projected undiscounted net cash flows of the assets over the remaining useful life to the carrying amount . impairments , if any , are based on the excess of the carrying amount over the fair value of the assets . revenue recognition the company recognizes revenue when persuasive evidence of an arrangement exists , delivery has occurred , the fee is fixed or determinable , and collectability is reasonably assured . deferred revenue represents billings to a customer to whom the services have

