Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

v3.10.0.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net Loss $ (8,238,500) $ (3,382,966)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 1,421,745 427,880
Amortization of deferred financing cost 982,436 245,609
Equity in loss from joint venture 2,801,772
Changes in operating working capital items:    
Accounts receivable - fees and reimbursable project costs 10,400 377,545
Other receivable from joint venture (414,957)
Prepaid expenses and other assets (37,794) (50,384)
Accounts payable and accrued liabilities 254,131 (48,540)
Deferred lease abandonment liability (72,186)
Net Cash Used In Operating Activities (3,220,767) (2,503,042)
Investing Activities:    
Investment in joint venture (5,217,000)
Patent costs (138,980) (115,172)
Net Cash Used In Investing Activities (5,355,980) (115,172)
Financing Activities:    
Net proceeds from the issuance of common stock 25,868,716 3,025,544
Net proceeds from the issuance of preferred stock 3,900,001
Restricted cash (47)
Net Cash Provided by Financing Activities 29,768,717 3,025,497
Net Increase In Cash and Cash Equivalents 21,191,970 407,283
Cash and Cash Equivalents, Beginning of Period 4,515,398 3,584,877
Cash and Cash Equivalents, End of Period 25,707,368 3,992,160
Supplemental Disclosure of Cash Flow Information:    
Cash paid during the period: Interest paid
Cash paid during the period: Income taxes paid
Non-Cash Financing Activities:    
Deemed dividend on Series B convertible preferred stock due to beneficial conversion feature 2,624,836
Accumulated preferred stock dividend 214,667 98,000
Decrease in accrued liabilities - stock-based compensation $ 121,720