v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 211,896 $ 132,229
Restricted cash 66,510 66,510
Prepayment on acquisition 0 3,744,517
Prepaid expenses and other 930,685 247,298
Total current assets 1,209,091 4,190,554
Property and equipment, net 49,389 62,021
Goodwill 3,283,379 3,283,379
Indefinite-lived intangible assets 9,243,128 9,243,128
Other assets 81,060 129,306
Total assets 13,866,047 16,908,388
Current liabilities:    
Accounts payable 2,172,323 1,788,521
Accrued expenses 1,488,929 1,487,046
Hybrid debt instrument, net 1,135,175 3,652,749
Other current liabilities 19,924 19,098
Loans due to related parties 152,529 395,000
Total current liabilities 4,968,880 7,342,414
Deferred tax liability 2,918,518 2,918,518
Other liabilities 24,733 38,791
Total liabilities 7,912,131 10,299,723
Stockholders' equity:    
Series A convertible preferred stock, $0.001 par value, 1,000,000 shares authorized, 970,000 and 0 shares issued and outstanding, with a liquidation preference of $4 and $0 as of September 30, 2016 and December 31, 2015, respectively 970 0
Common stock, $0.001 par value; 45,454,546 shares authorized as of September 30, 2016 and December 31, 2015; 8,612,529 and 4,909,685 shares issued as of September 30, 2016 and December 31, 2015, respectively; 8,288,644 and 4,585,800 shares outstanding as of September 30, 2016 and December 31, 2015, respectively 8,612 4,909
Additional paid in capital 152,865,472 99,763,101
Accumulated deficit (141,946,676) (88,131,899)
Accumulated other comprehensive income 253,734 253,734
Treasury stock (5,281,180) (5,281,180)
Total stockholders' equity 5,953,916 6,608,665
Total liabilities and stockholders' equity $ 13,866,047 $ 16,908,388

Source

v3.5.0.2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Operating costs and expenses:        
Research and development $ 891,828 $ 816,318 $ 3,526,322 $ 2,407,141
IPR&D expense 0 0 39,500,000 0
General and administrative 1,359,801 2,984,484 4,339,844 4,723,109
Loss from operations (2,251,629) (3,800,802) (47,366,166) (7,130,250)
Other income (expense):        
Change in fair value of derviative liability 241,298 (1,344,542) 2,146,587 (1,344,542)
Loss on issuance of hybrid debt instrument (106,566) 0 (1,690,787) (59,612)
Loss on conversion of debt 0 0 (6,187,337) 0
Other income (expense) (13,440) (50,526) (26,991) (216,429)
Interest income 4 67 31 1,155
Interest expense (341,648) (127,896) (690,118) (130,408)
Total non-operating expense, net (220,352) (1,522,897) (6,448,612) (1,749,836)
Net loss (2,471,981) (5,323,699) (53,814,778) (8,880,086)
Other comprehensive loss from foreign currency translation adjustment 0 5,112 0 (321,942)
Total comprehensive loss $ (2,471,981) $ (5,318,587) $ (53,814,778) $ (9,202,028)
Net loss per share of common stock, basic and diluted $ (.28) $ (1.26) $ (7.54) $ (2.10)
Weighted-average shares of common stock outstanding, basic and diluted 8,987,145 4,228,974 7,134,352 4,223,905

Source

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (53,814,778) $ (8,880,086)
Adjustments to reconcile net loss to net cash used in operating activities:    
IPR&D expense 39,500,000 0
Depreciation and amortization 27,246 47,472
Amortization of hybrid debt instrument discount 519,099 50,731
Non-cash interest expense 168,751 75,935
Share-based payments 1,518,344 1,875,891
Warrant expense for services 1,116,852 418,826
Change in fair value of derivative liability (2,146,587) 1,344,542
Loss on issuance of hybrid debt instrument 1,690,787 59,612
Hybrid debt instrument issuance costs (12,093) (30,932)
Loss on conversion of debt 6,187,337 0
Foreign currency translation 0 346,386
Other non-cash transactions 40,611 (129,743)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 43,682 50,459
Accounts payable, accrued expenses and other liabilities 997,500 585,681
Net cash used in operating activities (4,163,249) (4,185,226)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (14,613) (1,663)
Disposition of property and equipment 0 6,245
Net cash (used in) provided by investing activities (14,613) 4,582
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of promissory note 4,500,000 3,100,000
Payments on loan from related party (242,471) (100,000)
Net cash provided by financing activities 4,257,529 3,000,000
Effect of exchange rate change on cash 0 (80,667)
Net change in cash, excluding restricted cash 79,667 (1,261,311)
Cash at beginning of period 132,229 2,507,401
Cash at end of period 211,896 1,246,090
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Convertible debt paid in common stock 6,500,000 0
Interest paid in common stock 227,829 0
Non-cash issuance of warrants in connection with debt 2,107,835 0
Non-cash recording of derivative liability in connection with debt 4,120,359 0
Common stock exchanged for Series A convertible preferred stock 970 0
Issuance of common stock for goods and services $ 993,667 $ 0

Source