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 ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Activities:    
Net Loss $ (4,721,487) $ (1,745,308)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 1,273,035 229,631
Amortization of deferred financing cost 122,804
Write off of deferred financing costs 982,436
Equity in loss from joint venture 1,028,327
Changes in operating working capital items:    
Accounts receivable - fees and reimbursable project costs 10,400 300,820
Other receivable from joint venture (488,685)
Prepaid expenses and other assets (76,545) (84,134)
Accounts payable and accrued liabilities 140,567 78,262
Deferred lease abandonment liability (42,164)
Net Cash Used In Operating Activities (1,851,952) (1,140,089)
Investing Activities:    
Investment in joint venture (5,217,000)
Patent costs (94,800) (42,889)
Net Cash Used In Investing Activities (5,311,800) (42,889)
Financing Activities:    
Net proceeds from the issuance of common stock 20,722,215 2,813,160
Net proceeds from the issuance of preferred stock 3,900,001
Restricted cash (24)
Net Cash Provided by Financing Activities 24,622,216 2,813,136
Net Increase In Cash and Cash Equivalents 17,458,464 1,630,158
Cash and Cash Equivalents, Beginning of Period 4,515,398 3,584,877
Cash and Cash Equivalents, End of Period 21,973,862 5,215,035
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the period: Interest  
Cash paid during the period: Income taxes  
Non-Cash Financing Activities:    
Deemed dividend on Series B convertible preferred stock due to beneficial conversion feature 2,624,836
Accumulated preferred stock dividend 144,036 49,000
Decrease in accrued liabilities - stock-based compensation $ 121,720