Cash Flow

v3.10.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (2,774,014) $ (12,216,446)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 114,312 180,586
Share-based compensation expense 435,577 1,174,388
Amortization of deferred financing fees and debt discount 59,781
Change in fair value of liability classified warrants (1,569,049) 3,082,925
Warrant inducement expense 563,744
Loss on disposal of fixed assets 8,128
Changes in operating assets and liabilities:    
Trade and other receivables (165,920) 5,146
Related party receivable 80,959 74,356
Prepaid expenses 43,664 459,398
Other assets (4,000) 1,971
Accounts payable and accrued expenses (151,704) (160,741)
Accrued bonuses (418,625) (852,963)
Other current liabilities 41,690 (173,440)
Other long term liabilities (3,321) (14,073)
Net cash used in operating activities (4,370,431) (7,807,240)
Cash flows from investing activities:    
Maturity of short-term investments 5,000,000 5,000,000
Purchase of short-term investments (5,000,000)
Patent costs (83,774)
Purchase of property and equipment (9,674)
Net cash provided by (used in) investing activities 5,000,000 (93,448)
Cash flows from financing activities:    
Proceeds from issuance of common stock from warrants exercised, net of issuance costs 3,006,410
Proceeds from sale of common stock 97,050
Payments of long-term debt (3,765,568)
Payments of short-term notes payable (209,636) (189,306)
Net cash (used in ) provided by financing activities (209,636) (851,414)
Effects of exchange rates on cash (2,041) (363)
Net increase (decrease) in cash and cash equivalents 417,892 (8,752,465)
Cash and cash equivalents, beginning of period 6,674,940 15,194,949
Cash and cash equivalents, end of period 7,092,832 6,442,484
Supplemental disclosure of cash flows information:    
Cash paid for interest $ 2,692 $ 139,080

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