v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities        
Net loss - before noncontrolling interest ("NCI") $ (3,739,133) $ (5,146,540) $ (7,442,746) $ (7,971,909)
Adjustments to reconcile net loss - before NCI to net cash used in operating activities        
Depreciation expense 3,281 1,802 6,549 3,605
Stock-based compensation 388,363 303,890 847,049 575,176
Change in fair value - Senior Secured Convertible Note 161,108 720,059
Debt extinguishment - Senior Secured Convertible Note 258,811 259,812
Interest expense added to principal of Senior Secured Note     194,570
Interest expense - amortization of debt discount - Senior Secured Note     611,467
Series A and Series A-1 Exchange Offer - March 15, 2018     349,796
Series W Warrants Exchange Offer - April 5, 2018     766,456
Modification expense - Series Z Warrant - June 1, 2018     1,140,995
Change in fair value - Series A Warrants derivative liability 96,480
Change in fair value - Series A Convertible Preferred Stock conversion option derivative liability (64,913)
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets     140,464 (1,603)
Accounts payable     (311,781) 432,792
Accrued expenses and other current liabilities     (608,299) (38,267)
Net cash flows used in operating activities     (6,388,893) (3,902,149)
Cash flows from investing activities        
Purchase of equipment     (25,058)
Net cash flows used in investing activities     (25,058)
Cash flows from financing activities        
Proceeds - issue of common stock - registered offerings     5,480,000
Payment - offering costs - registered offerings     (101,098)
Proceeds - issue of common stock in an underwritten public offering     4,388,099
Payment - offering costs - underwritten public offering     (113,438)
Proceeds - issue units - equity subscription rights offering     9,437,000
Payment - offering costs - equity subscription rights offering     (228,674)
Payment - Senior Secured Convertible Note - bi-monthly non-installment payments - cash     (279,002)
Proceeds - issue common stock - majority-owned subsidiary     869
Proceeds - issue of common stock upon exercise of warrants, net     20,913
Net cash flows provided by financing activities     5,099,900 13,504,769
Net (decrease) increase in cash     (1,314,051) 9,602,620
Cash, beginning of period     8,222,119 1,535,022
Cash, end of period $ 6,908,068 $ 11,137,642 $ 6,908,068 $ 11,137,642

Source