Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.19.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (4,550,913) $ (2,774,014)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 77,151 114,312
Share-based compensation expense 466,744 435,577
Change in fair value of liability classified warrants (96,011) (1,569,049)
Changes in operating assets and liabilities:    
Trade and other receivables 124,152 (165,920)
Related party receivable 362,176 80,959
Prepaid expenses 113,406 43,664
Other assets 41,506 (4,000)
Accounts payable and accrued expenses 208,472 (151,704)
Accrued bonuses (418,625)
Other current liabilities (56,191) 41,690
Other long term liabilities (3,321)
Net cash used in operating activities (3,309,508) (4,370,431)
Cash flows from investing activities:    
Maturity of short-term investments 5,000,000
Net cash provided by investing activities 5,000,000
Cash flows from financing activities:    
Payments of short-term notes payable (195,869) (209,636)
Net cash used in financing activities (195,869) (209,636)
Effects of exchange rates on cash (315) (2,041)
Net (decrease) increase in cash and cash equivalents (3,505,692) 417,892
Cash and cash equivalents, beginning of period 5,787,110 6,674,940
Cash and cash equivalents, end of period 2,281,418 7,092,832
Supplemental disclosure of cash flows information:    
Cash paid for interest $ 2,524 $ 2,692