Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,784,551) $ (51,342,797)
Adjustments to reconcile net loss to net cash used in operating activities:    
In-process research and development expense 0 39,500,000
Depreciation 14,020 18,164
Amortization of hybrid debt instrument discount 0 204,003
Non-cash interest expense 0 142,929
Share-based payments 1,225,490 791,831
Warrant expense for services (95,906) 1,118,642
Vendor share-based payments 60,280 107,790
Change in fair value of derivative liability 0 (1,905,289)
Loss on issuance of hybrid debt instruments 0 1,584,218
Loss on conversion of debt 0 6,187,337
Changes in operating assets and liabilities:    
Accounts receivable 3,000,000 0
Prepaid expenses and other assets (185,541) 36,990
Accounts payable, accrued expenses and other liabilities 59,291 421,823
Net cash used in operating activities (1,706,917) (3,134,359)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (9,264) (14,613)
Net cash used in investing activities (9,264) (14,613)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of debt 0 3,500,000
Payments on loan from related party 0 (242,471)
Net cash provided by financing activities 0 3,257,529
Net change in cash, excluding restricted cash (1,716,181) 108,557
Cash at beginning of period 4,048,131 132,229
Cash at end of period 2,331,950 240,786
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 1,100 0
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Convertible debt paid in common stock 0 6,500,000
Interest paid in common stock 0 227,829
Issuance of warrants in connection with debt 0 1,701,214
Recording of derivative liability in connection with debt 0 3,346,423
Reclassification of common shares issuable to accounts payable 65,977 0
Conversion of Series B preferred stock to common stock 185 0
Issuance of common stock for promissory note converted in 2016 $ 125 $ 0