Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.5.0.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities:    
Net Loss $ (1,631,911) $ (902,342)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 550,552 782,036
Warrant modification expense 129,369 0
Warrant revaluation income (1,565,499) (1,658,251)
Changes in operating working capital items:    
Accounts receivable - fees and reimbursable project costs 70,101 221,942
Prepaid expenses and other assets (21,482) 1,389
Accounts payable and accrued liabilities 231,516 (201,097)
Deferred lease abandonment liability (154,141) 0
Net Cash Used In Operating Activities (2,391,495) (1,756,323)
Investing Activities:    
Patent costs (97,924) (50,215)
Net Cash Used In Investing Activities (97,924) (50,215)
Financing Activities:    
Net proceeds from the issuance of common stock 2,991,487 0
Payments for stock offering costs 0 (42,097)
Proceeds from the issuance of note payable 135,000 0
Repayment of note payable (66,964) 0
Restricted cash 290,811 (324)
Net Cash Provided by (Used In) Financing Activities 3,350,334 (42,421)
Net Increase (Decrease) In Cash and Cash Equivalents 860,915 (1,848,959)
Cash and Cash Equivalents, Beginning of Period 623,184 4,220,225
Cash and Cash Equivalents, End of Period 1,484,099 2,371,266
Cash paid during the year:    
Interest paid 1,618 0
Income taxes paid 0 0
Non-Cash Financing Activity:    
Warrant liability - reclassification to equity $ 692,110 $ 0