Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flow

v3.8.0.1
Consolidated Statements of Cash Flow - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net loss $ (15,486,489) $ (7,598,737) $ (9,135,400)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 100,605 52,644 43,502
Deferred rent 157,349 2,260 9,225
Share based compensation expense 3,597,480 1,518,897 1,592,367
Deferred tax liability (356,956)
Changes in operating assets and liabilities, net of amounts acquired:      
Grant receivable 45,643
Prepaid expenses 256,924 189,694 (111,588)
Other assets 5,024 (480,759) 100,621
Accounts payable 107,265 (22,240) (73,726)
Accrued expenses - other liabilities 159,361 219,518 (285,047)
Net cash used in operating activities (11,459,437) (6,118,723) (7,814,403)
Cash flows from investing activities:      
Leasehold improvements and equipment (942,180) (76,179)
Acquisition of Aquarius - net of cash acquired 70,754
Net cash used in investing activities (942,180) (5,425)
Cash flows from financing activities:      
Proceeds from common stock, issued for cash 10,000,000
Common stock issuance cost (1,485,496)
Proceeds from preferred stock issued for cash 8,000,000
Preferred stock issuance costs (1,157,603)
Gross proceeds from exercise of warrants 15,680,039 315,001
Net proceeds from ATM sales 1,122,285
Warrant tender issuance costs (851,666)
Payment capital lease liability (17,145) (15,943) (48,392)
Payment of notes payable (330,840) (144,278) (10,000)
Net cash provided by financing activities 15,602,673 6,997,177 8,456,112
Net increase in cash and cash equivalents 3,201,056 878,454 636,284
Cash and cash equivalents at beginning of year 4,105,451 3,226,997 2,590,713
Cash and cash equivalents at end of year 7,306,507 4,105,451 3,226,997
Supplemental non-cash financing and investing activities:      
Contingent equity consideration for Aquarius Merger 753,346
Stock consideration for Aquarius merger 2,119,689
Deemed dividend for convertible preferred stock beneficial conversion feature 4,393,809
Fair value of placement agent warrants as an issuance cost
Stock dividend accrual 608,343
Stock dividend issued 7,200
Inducement charges for modification of warrants 16,741,356
Equipment acquired under capital lease 85,420 31,064
Note payable for insurance premiums 383,030 262,324
Leasehold improvements paid by landlord 286,720
Unearned restricted stock grants 381,333
Conversion of preferred stock $ 350,412