Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow

v3.5.0.2
Condensed Consolidated Statements of Cash Flow - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net loss $ (5,706,931) $ (7,129,267)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 39,965 32,658
Deferred rent 2,001 8,232
Share based compensation expense 1,274,108 1,165,550
Common stock issued in lieu of bonus 0 63,000
Changes in operating assets and liabilities, net of amounts acquired:    
Grant receivable 0 (34,166)
Prepaid expenses 240,116 (221,986)
Other assets 105,269 (238)
Accounts payable (288,379) (289,471)
Accrued expenses - other liabilities 331,127 (292,048)
Net cash used in operating activities (4,002,724) (6,697,736)
Cash flows from investing activities:    
Equipment purchases 0 (53,247)
Acquisition of Aquarius, net of cash acquired 0 70,754
Net cash provided by investing activities 0 17,507
Cash flows from financing activities:    
Payment of contingent consideration 0 (61,945)
Proceeds from preferred stock issued for cash 8,000,000 0
Preferred stock issuance cost (1,157,603) 0
Proceeds from common stock issued for cash 0 10,000,000
Common stock issuance cost 0 (1,485,781)
Proceeds from exercise of warrants 240,000 0
Payment capital lease liability (13,578) 0
Payment of note payable (73,451) 0
Net cash provided by financing activities 6,995,368 8,452,274
Net increase in cash 2,992,644 1,772,045
Cash at beginning of period 3,226,997 2,590,713
Cash at end of period 6,219,641 4,362,758
Supplemental non-cash financing and investing activities:    
Stock consideration for Aquarius merger 0 2,119,689
Deemed dividend for convertible preferred stock beneficial conversion feature 4,393,809 0
Fair value of placement agent warrants as an issuance cost 756,047 0
Note Payable for insurance premiums 262,324 0
Equipment acquired under capital leases $ 31,064 $ 0