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 ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net Loss $ (12,453,086) $ (5,116,519)
Adjustments to reconcile net loss from operations to net cash used in operating activities:    
Stock-based compensation 1,951,394 598,485
Amortization of deferred financing cost 368,414
Abandonment loss 109,752
Write off of deferred financing costs 982,436
Equity in loss from joint venture 4,545,112
Changes in operating working capital items:    
Accounts receivable - fees and reimbursable project costs 10,400 373,298
Other receivable from joint venture (521,272)
Prepaid expenses and other assets (51,134) (16,634)
Accounts payable and accrued liabilities 237,914 164,302
Deferred lease abandonment liability (68,726)
Net Cash Used In Operating Activities (5,298,236) (3,587,628)
Investing Activities    
Investment in joint venture (5,217,000)
Patent costs (172,189) (159,253)
Net Cash Used In Investing Activities (5,389,189) (159,253)
Financing Activities    
Net proceeds from the issuance of common stock 27,600,675 4,376,455
Net proceeds from the issuance of preferred stock 3,900,001
Restricted cash (65)
Net Cash Provided by Financing Activities 31,500,676 4,376,390
Net Increase In Cash and Cash Equivalents 20,813,251 629,509
Cash and Cash Equivalents, Beginning of Period 4,515,398 3,584,877
Cash and Cash Equivalents, End of Period 25,328,649 4,214,386
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 333,667 147,000
Conversion of Series A convertible preferred stock to common stock and payment of paid-in-kind dividends to Series A preferred stockholder 207
Decrease in accrued liabilities - stock-based compensation $ 121,720