Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements of Cash Flow

v3.3.1.900
Condensed Consolidated Statements of Cash Flow - USD ($)
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net loss $ (9,135,400) $ (10,221,045)
Adjustments to reconcile net loss to net cash ( used in) operating activities:    
Depreciation and amortization 43,502 41,581
Deferred rent 9,225 0
Share based compensation and other expense 1,592,367 1,974,153
Changes in operating assets and liabilities, net of amounts acquired:    
Grant receivable 45,643 0
Prepaid expenses (111,588) (29,932)
Other assets 100,621 (539)
Accounts payable (73,726) (125,613)
Accrued expenses (285,047) 400,199
Net cash used in operating activities (7,814,403) (7,961,196)
Cash flows from investing activities    
Equipment purchases (76,179) (288,519)
Acquisition of Aquarius - cash acquired 70,754 0
Net cash used in investing activities (5,425) (288,519)
Cash flows from financing activities:    
Issuance of common stock net of offering expense 8,514,504 0
Payments of - lease liability (48,392) 0
Payment of - notes payable (10,000) 0
Net cash provided by financing activities 8,456,112 0
Net increase (decrease) in cash and cash equivalents 636,284 (8,249,715)
Cash and cash equivalents at beginning of period 2,590,713 10,840,428
Cash and cash equivalents at end of period 3,226,997 2,590,713
Supplemental non-cash financing activities    
Capital lease for equipment purchase 0 111,095
Contingent equity consideration for Aquarius merger 753,346 0
Stock consideration for Aquarius merger $ 2,119,689 $ 0