Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (3,595,132) $ (54,206,106)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
In-process research and development expense 0 39,500,000
Depreciation 23,784 36,449
Amortization of hybrid debt instrument discount 0 544,480
Non-cash interest expense 0 174,519
Share-based payments 1,784,129 1,922,215
Change in value of warrants issued for services (126,316) 1,121,466
Vendor share-based payments 135,280 180,971
Change in fair value of derivative liability 0 (2,125,113)
Loss on issuance of hybrid debt instrument 0 1,690,784
Hybrid debt instrument issuance costs 0 (12,093)
Loss on conversion of debt 0 6,394,921
Settlement of accounts payable with common stock 0 243,667
Changes in operating assets and liabilities:    
Accounts receivable 3,000,000 (3,000,000)
Prepaid expenses and other assets 280,633 (234,924)
Accounts payable, accrued expenses and other liabilities (8,183) (1,018,411)
Net cash provided by (used in) operating activities 1,494,195 (8,787,175)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (9,264) (16,793)
Net cash used in investing activities (9,264) (16,793)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of debt 0 4,500,000
Payments on debt 0 (369,958)
Proceeds from issuance of units in offering 0 8,969,998
Payments on loan from related party 0 (380,170)
Net cash provided by financing activities 0 12,719,870
Net change in cash, excluding restricted cash 1,484,931 3,915,902
Cash at beginning of period 4,048,131 132,229
Cash at end of period 5,533,062 4,048,131
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 1,932 15,836
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Interest paid in common stock 0 255,607
Purchase of XBIO IPR&D with common stock 0 39,500,000
Issuance of note in settlement of deferred payroll costs 0 369,958
Reclassification of related party loan principal to accounts payable 0 14,830
Exchange of common stock for Series A preferred stock 0 970
Conversion of Series B preferred stock to common stock 185 119
Convertible debt paid in common stock 0 7,000,000
Convertible debt paid in public offering units 0 500,000
Issuance of warrants in connection with debt 0 2,107,836
Recording of derivative liability in connection with debt 0 4,120,359
Reclassification of common shares issuable to accounts payable 65,977 0
Issuance of common stock for promissory note converted $ 125 $ 0