Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Operating Activities:    
Net Loss $ (5,116,519) $ (3,135,427)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 598,485 943,424
Amortization of deferred financing costs 368,414 68,590
Abandonment loss 109,752
Warrant modification expense 129,369
Warrant revaluation (1,643,941)
Changes in operating working capital items:    
Accounts receivable - fees and reimbursable project costs 373,298 56,578
Prepaid expenses and other assets (16,634) 32,807
Accounts payable and accrued liabilities 164,302 (161,359)
Deferred lease abandonment liability (68,726) (198,891)
Net Cash Used In Operating Activities (3,587,628) (3,908,850)
Investing Activities:    
Patent costs (159,253) (171,177)
Net Cash Used In Investing Activities (159,253) (171,177)
Financing Activities:    
Net proceeds from the issuance of common stock 4,376,455 3,631,689
Net proceeds from the issuance of preferred stock 2,800,000
Proceeds from the issuance of note payable 135,000
Repayment of note payable (107,623)
Restricted cash (65) 211,842
Net Cash Provided by Financing Activities 4,376,390 6,670,908
Net Increase In Cash and Cash Equivalents 629,509 2,590,881
Cash and Cash Equivalents, Beginning of Period 3,584,877 623,184
Cash and Cash Equivalents, End of Period 4,214,386 3,214,065
Cash paid during the period:    
Interest paid 2,269
Income taxes paid
Non-Cash Financing Activity:    
Deferred financing cost - paid with stock purchase warrants 1,665,000
Warrant liability - reclassification to equity 692,110
Accumulated preferred stock dividend 147,000 32,667
Decrease in accrued liabilities - stock-based compensation 121,720
Deemed dividend on convertible preferred stock, due to beneficial conversion feature $ 581,300