Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (54,206,106) $ (12,507,471)
Adjustments to reconcile net loss to net cash used in operating activities:    
In-process research and development expense 39,500,000 0
Depreciation 36,449 56,115
Amortization of hybrid debt instrument discount 544,480 108,527
Non-cash interest expense 174,519 153,791
Share-based payments 1,922,215 2,201,452
Warrant expense for services 1,121,466 933,195
Vendor share-based payments 180,971 392,661
Change in fair value of derivative liability (2,125,113) 2,125,117
Loss on issuance of hybrid debt instrument 1,690,784 59,612
Hybrid debt instrument issuance costs (12,093) (30,933)
Loss on conversion of debt 6,394,921 0
Settlement of accounts payable with common stock 243,667 0
Foreign currency translation 0 369,947
Other non-cash transactions 0 (127,875)
Changes in operating assets and liabilities:    
Accounts receivable (3,000,000) 0
Prepaid and other assets (234,924) 21,227
Accounts payable, accrued expenses and other liabilities (1,018,411) 943,909
Net cash used in operating activities (8,787,175) (5,300,726)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (16,793) (1,663)
Disposition of property and equipment 0 7,882
Net cash (used in) provided by investing activities (16,793) 6,219
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of debt 4,500,000 3,100,000
Payments on debt (369,958) (100,000)
Proceeds from issuance of units in offering 8,969,998 0
Payments on loan from related party (380,170) 0
Net cash provided by financing activities 12,719,870 3,000,000
Effect of exchange rate change on cash 0 (80,665)
Net change in cash, excluding restricted cash 3,915,902 (2,375,172)
Cash at beginning of period 132,229 2,507,401
Cash at end of period 4,048,131 132,229
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 15,836 592
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Interest paid in common stock 255,607 75,935
Purchase of XBIO-101 IPR&D with common stock 39,500,000 0
Issuance of note in settlement of deferred payroll costs 369,958 0
Reclassification of related party loan principal to accounts payable 14,830 0
Exchange of common stock for Series A preferred stock 970 0
Conversion of Series B preferred stock to common stock 119 0
Issuance of common stock in connection with pending asset acquisition 0 3,744,517
Convertible debt paid in common stock 7,000,000 0
Convertible debt paid in public offering unites 500,000 0
Issuance of warrants in connection with debt 2,107,836 1,626,344
Recording of derivative liability in connection with debt $ 4,120,359 $ 1,419,105