Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow

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Condensed Consolidated Statements of Cash Flow - USD ($)
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (4,974,643) $ (4,564,895)
Adjustments to reconcile net loss to net cash used by operating activities:    
Depreciation 20,583 19,931
Share based compensation 733,761 547,589
Changes in operating assets and liabilities, net of amounts assumed in the acquisition of Aquarius    
Other assets (158) (4,471)
Contract Research Receivable (14,213) 0
Prepaid expenses 5,213 19,827
Accrued expenses (483,925) 162,520
Accounts payable 173,983 (115,678)
Net cash used in operating activities (4,539,399) (3,935,177)
Cash flows used by investing activities    
Equipment purchases (38,734) (257,772)
Cash acquired in the business combination 70,754  
Net cash provided by (used in) investing activities 32,020 (257,772)
Cash flows from financing activities:    
Proceeds from common stock issued for cash 10,000,000 0
Common stock issuance costs (1,477,836) 0
Net cash provided by financing activities 8,522,164 0
Net increase (decrease) in cash equivalents 4,014,785 (4,192,949)
Cash and cash equivalents at beginning of period 2,590,713 10,840,428
Cash and cash equivalents at end of period 6,605,498 6,647,479
Supplemental non-cash financing activities    
Capital lease for equipment purchase 0 111,095
Stock consideration for Aquarius merger $ 2,119,689 $ 0