Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net loss $ (3,113,992) $ (2,146,968)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 39,821 67,374
Share-based compensation expense 337,966 238,835
Change in fair value of liability classified warrants 340,115 (190,219)
Changes in operating assets and liabilities:    
Trade and other receivables 56,275 175,430
Related party receivable 362,176 89,937
Prepaid expenses 75,938 56,241
Other assets 19,125 (4,000)
Accounts payable and accrued expenses 244,319 293,119
Accrued bonuses (418,625)
Other current liabilities (27,648) (7,369)
Other long term liabilities (704)
Net cash used in operating activities (1,665,905) (1,846,949)
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 (117,019) (104,244)
Net cash used in financing activities (117,019) (104,244)
Effects of exchange rates on cash 903 501
Net (decrease) increase in cash and cash equivalents (1,782,021) 3,049,308
Cash and cash equivalents, beginning of period 5,787,110 6,674,940
Cash and cash equivalents, end of period 4,005,089 9,724,248
Supplemental disclosure of cash flows information:    
Cash paid for interest $ 2,017 $ 1,920