v3.19.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities      
Net loss - before noncontrolling interest ("NCI") $ (3,278,658) $ (10,714,055) $ (11,250,567)
Adjustments to reconcile net loss - before NCI to net cash used in operating activities      
Depreciation expense   10,328 6,244
Stock-based compensation 324,473 1,177,282 899,649
Change in fair value - Senior Secured Convertible Note 340,830
Debt extinguishment - Senior Secured Convertible Note 666,670
Interest expense added to principal - Senior Secured Note   194,570
Interest expense accrued - Senior Secured Note   201,867
Interest expense - amortization of debt discount - Senior Secured Note   1,117,315
Series A and Series A-1 Exchange Offer - March 15, 2018   349,796
Series W Warrants Exchange Offer - April 5, 2018   766,456
Unit Purchase Options Exchange Offer - August 22, 2018 2,120 2,120
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   (19,323) (31,513)
Accounts payable   61,616 771,537
Accrued expenses and other current liabilities   (790,225) 31,327
Net cash flows used in operating activities   (9,266,877) (5,768,637)
Cash flows from investing activities      
Purchase of equipment   (25,058) (23,464)
Net cash flows used in investing activities   (25,058) (23,464)
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 - Employee Stock Purchase Plan   67,436
Proceeds - issue common stock - majority-owned subsidiary   1,812
Proceeds - issue of common stock upon exercise of warrants, net   20,913
Payment - Series A Convertible Preferred Stock Dividends   (7,099)
Net cash flows provided by financing activities   5,167,336 13,498,613
Net (decrease) increase in cash   (4,124,599) 7,706,512
Cash, beginning of period   8,222,119 1,535,022
Cash, end of period $ 9,241,534 $ 4,097,520 $ 9,241,534

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