Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.7.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities:    
Net Loss $ (3,382,966) $ (1,631,911)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 427,880 550,552
Amortization of deferred financing costs 245,609
Warrant revaluation (1,565,499)
Warrant modification expense 129,369
Changes in operating working capital items:    
Accounts receivable - fees and reimbursable project costs 377,545 70,101
Prepaid expenses and other assets (50,384) (21,482)
Accounts payable and accrued liabilities (48,540) 231,516
Deferred lease abandonment liability (72,186) (154,141)
Net Cash Used In Operating Activities (2,503,042) (2,391,495)
Investing Activities:    
Patent costs (115,172) (97,924)
Net Cash Used In Investing Activities (115,172) (97,924)
Financing Activities:    
Net proceeds from the issuance of common stock 3,025,544 2,991,487
Proceeds from the issuance of note payable 135,000
Repayment of note payable (66,964)
Restricted cash (47) 290,811
Net Cash Provided by Financing Activities 3,025,497 3,350,334
Net Increase In Cash and Cash Equivalents 407,283 860,915
Cash and Cash Equivalents, Beginning of Period 3,584,877 623,184
Cash and Cash Equivalents, End of Period 3,992,160 1,484,099
Cash paid during the period:    
Interest paid 1,618
Income taxes paid
Non-Cash Financing Activity:    
Warrant liability 692,110
Accumulated preferred stock dividend 98,000
Decrease in accrued liabilities - stock-based compensation $ 121,720