Cash Flow

v3.8.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (12,350,229) $ (15,678,575)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 233,589 275,074
Share-based compensation expense 1,504,143 2,866,773
Amortization of deferred financing fees and debt discount 59,781 283,493
Change in fair value of derivative instruments 403,155 (219,014)
Warrant inducement expense 563,744
Expenses related to issuance of derivative instruments 242,676 466,541
Loss on disposal of fixed assets 8,128
Changes in operating assets and liabilities:    
Trade and other receivables (26,967) 24,631
Related party receivable 63,856 (465,199)
Prepaid expenses 150,589 212,572
Other assets 1,971 21,542
Accounts payable and accrued expenses (920,624) 1,029,864
Accrued bonuses (852,963) (161,362)
Other current liabilities (196,132) (38,236)
Other long term liabilities (14,809) (153,854)
Net cash used in operating activities (11,130,092) (11,535,750)
Cash flows from investing activities:    
Maturity of short-term investments 5,000,000 7,517,453
Purchase of short-term investments (5,000,000)
Patent costs (82,645) (30,183)
Purchase of property and equipment (10,993) (98,088)
Net cash (used in) provided by investing activities (93,638) 7,389,182
Cash flows from financing activities:    
Proceeds from exercise of common stock purchase warrants, net 3,225,176
Proceeds from sale of common stock and warrants, net 5,510,840 8,173,686
Payments of long-term debt (3,765,568) (3,381,898)
Proceeds from short-term note payable 346,863 313,483
Payments of short-term notes payable (223,425)
Net cash provided by financing activities 5,093,886 5,105,271
Effects of exchange rates on cash (1,395) 893
Net (decrease) increase in cash and cash equivalents (6,131,239) 959,596
Cash and cash equivalents, beginning of period 15,194,949 4,716,533
Cash and cash equivalents, end of period 9,063,710 5,676,129
Supplemental disclosure of cash flows information:    
Cash paid for interest 115,034 869,038
Supplemental schedule of non cash investing and financing activities:    
Issuance of common stock for cashless exercise of options, warrants and RSUs $ 8,936

Source