Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,693,441) $ (11,604,778)
Adjustments to reconcile net loss to net cash used in operating activities:    
Acquired in-process research and development 0 3,031,226
Asset impairment charges 9,243,128 3,283,379
Deferred income taxes (2,918,518) 0
Depreciation 757 3,366
Amortization of right of use asset 20,042 16,629
Gain on sale of property and equipment 0 (2,000)
Gain on settlement with vendor (143,639) 0
Share-based expense 388,131 683,104
Issuance of warrants in connection with reverse stock split 0 63,536
Vendor share-based payments 0 47,427
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 273,052 (297,712)
Accounts payable, accrued expenses and other liabilities (483,045) 54,171
Net cash used in operating activities (3,313,533) (4,721,652)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of property and equipment 0 2,000
Net cash provided by investing activities 0 2,000
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from issuance of common stock and warrants in July 2019 public offering 0 13,421,950
Net proceeds from issuance of common stock and warrants in March 2019 registered direct offering 0 2,699,050
Proceeds from exercise of warrants 0 5,009
Net cash provided by financing activities 0 16,126,009
Net change in cash (3,313,533) 11,406,357
Cash at beginning of period 10,367,920 638,115
Cash at end of period 7,054,387 12,044,472
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest 0 8
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Right of use assets obtained in exchange for lease liability 0 43,330
Issuance of common stock to vendor 1 7
Issuance of common stock to acquire in-process research and development 0 3,031,226
Issuance of common stock to adjust for Reverse Stock Split 0 1
Issuance of common stock from cashless exercise of purchase warrants $ 229 $ 1,890