Cash Flow

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Operating activities    
Net loss $ (19,020,679) $ (17,660,483)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 159,842 96,553
Stock-based compensation 6,846,931 4,403,278
Issuance of restricted common stock for services 553,284 164,000
Amortization and accretion related to notes payable 393,829 413,676
Increase (decrease) in operating assets and liabilities:    
Grant receivable 0 757,562
Prepaid expenses and other 25,980 340,187
Accounts payable (46,999) (1,898,520)
Accrued clinical operations and site costs 450,560 827,600
Accrued compensation (458,917) 207,837
Other accrued expenses 100,658 (15,101)
Net cash used in operating activities (10,995,511) (12,363,411)
Investing activities    
Purchases of property and equipment (21,072) (563,196)
Net cash used in investing activities (21,072) (563,196)
Financing activities    
Principal payments on financed insurance policies (80,087) (167,597)
Principal payments on capital lease (16,403) (10,540)
Principal payments on bank loan (1,388,889) 0
Purchase of vested employee stock in connection with tax withholding obligation 0 (177,823)
Cash receipts from bank loan, net of financing costs 0 4,610,324
Proceeds from issuance of common stock and Series F Preferred Stock, net of costs, August 2016 0 8,567,448
Proceeds from issuance of Series H Preferred Stock, net of costs, May 2017 820,571 0
Proceeds from issuance of common stock and Series G Preferred Stock, net of costs, May 2017 3,683,783 0
Proceeds from issuance of common stock, net of costs, August 2017 125,000 0
Proceeds from issuance of Series J Preferred Stock, net of costs, August 2017 1,189,417 0
Proceeds from issuance of common stock, net of costs, September 2017 1,857,361 0
Proceeds from issuance of common stock, net of costs, September 2017 1,236,000 0
Proceeds from issuance of common stock, net of costs, October 2017 496,250 0
Net cash provided by financing activities 7,923,003 12,821,812
Net change in cash and cash equivalents (3,093,580) (104,795)
Cash and cash equivalents at beginning of year 3,979,290 4,084,085
Cash and cash equivalents at end of year 885,710 3,979,290
Supplemental disclosure:    
Cash paid during the year for income taxes 1,600 1,600
Cash paid during the year for interest on term note 568,852 532,436
Supplemental disclosures of non-cash investing and financing information:    
Purchase of equipment accrued in accounts payable 0 33,934
Fair value of warrants issued 0 607,338
Fair value of repricing of warrants issued in previous financing 19,413 0
Conversion of Series D preferred stock to common stock 3,981 2,658
Conversion of Series I preferred stock to common stock 3,901 0
Conversion of Series J preferred stock to common stock 5,379 0
Conversion of Series K preferred stock to common stock 617 0
Exchange preferred stock Series F for Series L 6,653 0
Exchange preferred stock Series G for Series L 10,000 0
Exchange preferred stock Series H for Series L 9 0
Exchange preferred stock Series L for Series F, Series G and Series H 580 0
Deemed dividends on May 2017 inducement shares 5,220,000 0
Deemed dividends on August 2017 inducement shares 3,120,000 0
Deemed dividends on preferred stock exchange 5,411,284 0
Capital lease in connection with purchase of equipment $ 0 $ 95,657

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