Cash Flow

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net loss $ (15,665,983) $ (21,074,611)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 289,208 337,508
Share based compensation expenses 1,769,964 3,445,539
Amortization of deferred financing fees and debt discount 59,781 347,491
Change in fair value of liability classified warrants 1,470,174 (660,253)
Warrant inducement expense 563,744
Expenses related to issuance of liability classified warrants 242,676 466,541
Loss on disposal of fixed assets 8,128 10,284
Changes in operating assets and liabilities:    
Trade and other receivables (302,311) 26,825
Related party receivable 53,081 (477,321)
Prepaid expenses 297,298 513,156
Other assets 1,855 55,663
Accounts payable and accrued expenses (1,522,917) 879,076
Accrued bonuses (434,338) 691,601
Other current liabilities (230,189) (21,672)
Other long term liabilities (16,333) (155,935)
Net cash used in operating activities (13,416,162) (15,616,108)
Cash flows from investing activities:    
Purchases of short-term investments (5,000,000) (5,000,000)
Maturity of short-term investments 5,000,000 7,517,453
Patent costs (82,645) (63,026)
Purchase of property and equipment (11,401) (98,088)
Net cash provided by investing activities (94,046) 2,356,339
Cash flows from financing activities:    
Proceeds from issuance of common stock from warrants exercised, net of issuance costs 3,225,176
Proceeds from sale of common stock, preferred stock and warrants, net of issuance costs 5,510,840 28,118,962
Payments of long-term debt (3,765,568) (4,569,540)
Proceeds from short term notes payable 346,863 313,483
Payments of short term notes payable (326,533) (124,177)
Net cash provided by financing activities 4,990,778 23,738,728
Effects of exchange rates on cash (579) (543)
Net increase (decrease) in cash and cash equivalents (8,520,009) 10,478,416
Cash and cash equivalents, beginning of year 15,194,949 4,716,533
Cash and cash equivalents, end of year 6,674,940 15,194,949
Supplemental cash flow information:    
Cash paid for interest 118,257 990,857
Cash paid for income taxes
Supplemental schedule of non cash investing and financing activities:    
Issuance of common stock for cashless exercise of options, warrants and RSUs $ 8,936

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