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 ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (4,110,004) $ (4,496,117)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 47,138 11,986
Deferred rent 16,926 259
Share based compensation expense 1,747,816 1,371,734
Changes in operating assets and liabilities    
Prepaid expenses 128,598 (498,612)
Other assets 700
Accounts payable (109,354) 771,885
Accrued expenses - other liabilities (526,851) (193,568)
Net cash used in operating activities (2,805,731) (3,031,733)
Cash flows from investing activities:    
Leasehold improvements and equipment (101,916)
Net cash used in investing activities (101,916)
Cash flows from financing activities:    
Net proceeds from exercised of warrants 14,834,344
Payment of capital lease liability (8,014) (2,410)
Payment of note payable (127,677) (70,827)
Net cash provided by/(used in) financing activities (135,691) 14,761,107
Net increase (decrease) in cash, cash equivalents and restricted cash (3,043,338) 11,729,347
Cash, cash equivalents and restricted cash at beginning of period 7,997,937 4,797,061
Cash, cash equivalents and restricted cash at end of period 4,954,599 16,526,435
Supplemental non-cash financing and investing activities:    
Conversion of preferred stock 150,000 50,000
Stock dividends issued 12,000
Additional paid-in-capital for modification of warrants 16,741,356
Equipment Acquired under capital lease 81,089
Unearned restricted stock grants $ 173,333