Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net loss $ (7,521,037) $ (8,463,757)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 100,079 24,800
Deferred rent 33,607 273
Share based compensation expense 2,297,744 1,687,690
Changes in operating assets and liabilities:    
Prepaid expenses 250,113 (12,828)
Accounts receivable -other assets (89,813) 5,076
Accounts payable (85,479) (22,382)
Accrued expenses - other liabilities (49,485) 21,696
Net cash used in operating activities (5,064,271) (6,759,432)
Cash flows from investing activities:    
Purchase of leasehold improvements and lab equipment (260,606) (789,705)
Net cash used in investing activities (260,606) (789,705)
Cash flows from financing activities:    
Net proceeds from issuance of series B convertible preferred stock 7,056,250
Net proceeds from exercise of warrants 14,834,367
Payments of capital lease liability (20,046) (6,202)
Payments of note payable (170,236) (118,046)
Net cash provided by financing activities 6,865,968 14,710,119
Net increase in cash, cash equivalents and restricted cash 1,541,091 7,160,982
Cash, cash equivalents and restricted cash at beginning of period 7,997,937 4,796,829
Cash, cash equivalents and restricted cash at end of period 9,539,028 11,957,811
Supplemental non-cash financing and investing activities:    
Warrants issued to placement agent 89,581
Stock dividends issued 14,000
Additional paid-in-capital for modification of warrants 16,741,356
Equipment acquired under capital lease 81,070 49,935
Unearned restricted stock grants 69,333
Series A Preferred Stock [Member]    
Supplemental non-cash financing and investing activities:    
Conversion of preferred stock 133,139 289,102
Series B Preferred Stock [Member]    
Supplemental non-cash financing and investing activities:    
Conversion of preferred stock $ 21,771