Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,704,650) $ (3,848,694)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 2,412 11,399
Amortization of right of use asset 10,179 0
Gain on sale of property and equipment (2,000) 0
Share-based expense 450,667 816,949
Vendor share-based expense 32,427 34,854
Changes in operating assets and liabilities:    
Prepaid expenses and other assets (775,258) (379,875)
Accounts payable, accrued expenses and other liabilities 680,767 (389,574)
Net cash used in operating activities (2,305,456) (3,754,941)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of property and equipment 2,000 0
Net cash provided by investing activities 2,000 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock and warrants 2,699,559 1,480,000
Net cash provided by financing activities 2,699,559 1,480,000
Net change in cash and restricted cash 396,103 (2,274,941)
Cash and restricted cash at beginning of period 638,115 5,599,572
Cash and restricted cash at end of period 1,034,218 3,324,631
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 8 678
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Right of use asset acquired in exchange for lease liability 43,330 0
Conversion of Series B preferred stock to common stock $ 0 $ 316