Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (11,858,471) $ (5,706,931)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 56,229 39,965
Deferred rent 97,415 2,001
Share based compensation expense 2,239,259 1,274,108
Changes in operating assets and liabilities:    
Prepaid expenses 51,418 240,116
Other assets 5,081 105,269
Accounts payable (134,009) (288,379)
Accrued expenses - other liabilities (1,120) 331,127
Net cash used in operating activities (9,544,198) (4,002,724)
Cash flows from investing activities:    
Leasehold improvements (823,886)
Net cash used in investing activities (823,886)
Cash flows from financing activities:    
Proceeds from preferred stock issued for cash 8,000,000
Preferred stock issuance costs (1,157,603)
Net proceeds from exercise of warrants 14,834,344 240,000
Net proceeds from ATM sales 641,510
Payment capital lease liability (9,383) (13,578)
Payments on notes payable (203,164) (73,451)
Net cash provided by/ financing activities 15,263,307 6,995,368
Net increase in cash and cash equivalents 4,895,223 2,992,644
Cash and cash equivalents at beginning of period 4,105,451 3,226,997
Cash and cash equivalents at end of period 9,000,674 6,219,641
Supplemental non-cash financing and investing activities:    
Deemed dividend for convertible preferred stock beneficial conversion feature 4,393,809
Fair value of placement agent warrants as an issuance cost 756,047
Stock dividend accrual 608,343
Stock dividends issued and converted to common stock 5,200
Additional paid-in-capital for modification of warrants 16,741,356
Equipment acquired under capital lease 49,935 31,064
Note Payable for insurance premiums 383,030 262,324
Liability of Payament of leasehold improvements by landlord 286,720
Unearned restricted stock grants 381,333
Conversion of preferred stock $ 350,412