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Condensed Consolidated Statements of Cash Flow (USD $)
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3 Months Ended | |
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Mar. 31, 2015
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Mar. 31, 2014
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| Cash flows from operating activities: | ||
| Net loss | $ (2,570,111)us-gaap_NetIncomeLoss | $ (2,139,024)us-gaap_NetIncomeLoss |
| Adjustments to reconcile net loss to net cash used by operating activities: | ||
| Depreciation | 10,856us-gaap_Depreciation | 9,452us-gaap_Depreciation |
| Share based compensation | 332,683us-gaap_ShareBasedCompensation | 273,824us-gaap_ShareBasedCompensation |
| Changes in operating assets and liabilities, net of amounts assumed in the acquisition of Aquarius | ||
| Other assets | (78)us-gaap_IncreaseDecreaseInOtherOperatingAssets | (41,117)us-gaap_IncreaseDecreaseInOtherOperatingAssets |
| Accounts receivable | 15,535us-gaap_IncreaseDecreaseInAccountsReceivable | 0us-gaap_IncreaseDecreaseInAccountsReceivable |
| Prepaid expenses | 26,583us-gaap_IncreaseDecreaseInPrepaidExpense | 37,980us-gaap_IncreaseDecreaseInPrepaidExpense |
| Accrued expenses - other liabilities | (33,347)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities | (75,720)us-gaap_IncreaseDecreaseInOtherAccruedLiabilities |
| Accounts payable | (104,948)us-gaap_IncreaseDecreaseInAccountsPayable | (154,441)us-gaap_IncreaseDecreaseInAccountsPayable |
| Net cash used in operating activities | (2,322,827)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (2,089,046)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| Cash flows used by investing activities | ||
| Equipment purchases | (4,845)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (193,277)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
| Cash acquired in the business combination | 70,754us-gaap_CashAcquiredFromAcquisition | |
| Net cash provided by (used in) investing activities | 65,909us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (193,277)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
| Cash flows from financing activities: | ||
| Proceeds from common stock issued for cash | 4,937,500us-gaap_ProceedsFromIssuanceOfCommonStock | 0us-gaap_ProceedsFromIssuanceOfCommonStock |
| Common stock issuance costs | (654,766)us-gaap_PaymentsOfStockIssuanceCosts | 0us-gaap_PaymentsOfStockIssuanceCosts |
| Net cash provided by financing activities | 4,282,734us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 0us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| Net increase (decrease) in cash equivalents | 2,025,816us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (2,282,323)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalents at beginning of period | 2,590,713us-gaap_CashAndCashEquivalentsAtCarryingValue | 10,840,428us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash and cash equivalents at end of period | 4,616,529us-gaap_CashAndCashEquivalentsAtCarryingValue | 8,558,105us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Supplemental non-cash financing activities | ||
| Capital lease for equipment purchase | 0us-gaap_PaymentsToAcquireEquipmentOnLease | 111,095us-gaap_PaymentsToAcquireEquipmentOnLease |
| Stock consideration for Aquaries merger | $ 2,119,689us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1 | $ 0us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1 |
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- Definition
The cash inflow associated with the acquisition of business during the period (for example, cash that was held by the acquired business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The increase (decrease) during the reporting period in other expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The value of the noncash (or part noncash) consideration given (for example, liability, equity) in a transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of a transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow for payments to acquire rented equipment which is recorded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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