Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow

v3.7.0.1
Condensed Consolidated Statements of Cash Flow - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net loss $ (8,463,757) $ (3,868,495)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 24,800 26,298
Deferred rent 273 1,742
Share based compensation expense 1,687,690 793,471
Changes in operating assets and liabilities    
Prepaid expenses (12,828) 163,962
Other assets 5,076 105,295
Accounts payable (22,382) (21,979)
Accrued expenses 21,696 163,050
Net cash used in operating activities (6,759,432) (2,636,656)
Cash flows from investing activities:    
Capital expenditures (789,705) 0
Net cash used in investing activities (789,705) 0
Cash flows from financing activities:    
Net proceeds from exercise of warrants 14,834,367 0
Payment of capital lease liability (6,202) (12,028)
Payment of note payable (118,046) 0
Net cash provided by (used in) financing activities 14,710,119 (12,028)
Net increase (decrease) in cash 7,160,982 (2,648,684)
Cash and cash equivalents at beginning of period 4,105,451 3,226,997
Cash and cash equivalents at end of period 11,266,433 578,313
Supplemental non-cash financing and investing activities:    
Accrued issuance cost for private placement 2016 0 71,805
Preferred stock conversion 289,102 0
Additional paid-in-capital for modification of warrants 16,741,356 0
Equipment acquired under capital lease $ 49,935 $ 31,064