Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flow (Unaudited)

v3.19.2
Condensed Consolidated Statements of Cash Flow (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (7,395,435) $ (7,521,037)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 96,936 100,079
Amortization of operating lease right-of-use assets 222,320
Amortization of finance lease right-of-use assets 72,789
Change in deferred rent 33,607
Stock-based compensation expense 1,626,594 2,297,744
Changes in operating assets and liabilities:    
Operating lease liabilities (169,583)
Prepaid expenses (14,101) 250,113
Accounts receivable - other assets (89,813)
Accounts payable 252,476 (85,479)
Accrued expenses and other liabilities 188,095 (49,485)
Net cash used in operating activities (5,119,909) (5,064,271)
Cash flows from investing activities:    
Purchases of leasehold improvements and equipment (332,174) (260,606)
Net cash used in investing activities (332,174) (260,606)
Cash flows from financing activities:    
Net proceeds from issuance of Series B convertible preferred stock 7,056,250
Net proceeds from public offering of common stock 30,103,307
Payments of capital lease liability - principal (42,296) (20,046)
Payments of note payable (199,842) (170,236)
Net cash provided by financing activities 29,861,169 6,865,968
Net increase in cash, cash equivalents and restricted cash 24,409,086 1,541,091
Cash, cash equivalents and restricted cash at beginning of period 13,007,838 7,997,937
Cash, cash equivalents and restricted cash at end of period 37,416,924 9,539,028
Supplemental non-cash financing and investing activities:    
Right-of-use assets obtained exchanged for liabilities 4,453,028
Preferred stock conversion into common stock - series A 133,139
Preferred stock conversion into common stock - series B 164,588 21,771
Stock dividends issued 473,001 14,000
Warrant issued to placement agent 89,581
Equipment acquired under capital lease 81,070
Unearned restricted stock grants $ 69,333