Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow

v3.4.0.3
Condensed Consolidated Statements of Cash Flow - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net loss $ (2,244,610) $ (2,570,111)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 12,891 10,856
Deferred rent 993 0
Share based compensation expense 392,694 332,683
Changes in operating assets and liabilities, net of amounts acquired:    
Grant receivable 0 15,535
Prepaid expenses 93,780 26,583
Other assets (53) (78)
Accounts payable 122,722 (104,948)
Accrued expenses - other liabilities 79,032 (33,347)
Net cash used in operating activities (1,542,551) (2,322,827)
Cash flows from investing activities    
Equipment purchases 0 (4,845)
Acquisition of Aquarius, net of cash acquired 0 70,754
Net cash provided by investing activities 0 65,909
Cash flows from financing activities:    
Issuance of common stock, net of offering expense 0 4,282,734
Payments of capital lease liability (11,261) 0
Net cash (used in) provided by financing activities (11,261) 4,282,734
Net (decrease) increase in cash and cash equivalents (1,553,812) 2,025,816
Cash and cash equivalents at beginning of period 3,226,997 2,590,713
Cash and cash equivalents at end of period 1,673,185 4,616,529
Supplemental non-cash financing activities    
Contingent Consideration for Aquarius merger 0 753,346
Stock consideration for Aquarius merger $ 0 $ 2,119,689