Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (53,814,778) $ (8,880,086)
Adjustments to reconcile net loss to net cash used in operating activities:    
IPR&D expense 39,500,000 0
Depreciation and amortization 27,246 47,472
Amortization of hybrid debt instrument discount 519,099 50,731
Non-cash interest expense 168,751 75,935
Share-based payments 1,518,344 1,875,891
Warrant expense for services 1,116,852 418,826
Change in fair value of derivative liability (2,146,587) 1,344,542
Loss on issuance of hybrid debt instrument 1,690,787 59,612
Hybrid debt instrument issuance costs (12,093) (30,932)
Loss on conversion of debt 6,187,337 0
Foreign currency translation 0 346,386
Other non-cash transactions 40,611 (129,743)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 43,682 50,459
Accounts payable, accrued expenses and other liabilities 997,500 585,681
Net cash used in operating activities (4,163,249) (4,185,226)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (14,613) (1,663)
Disposition of property and equipment 0 6,245
Net cash (used in) provided by investing activities (14,613) 4,582
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of promissory note 4,500,000 3,100,000
Payments on loan from related party (242,471) (100,000)
Net cash provided by financing activities 4,257,529 3,000,000
Effect of exchange rate change on cash 0 (80,667)
Net change in cash, excluding restricted cash 79,667 (1,261,311)
Cash at beginning of period 132,229 2,507,401
Cash at end of period 211,896 1,246,090
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Convertible debt paid in common stock 6,500,000 0
Interest paid in common stock 227,829 0
Non-cash issuance of warrants in connection with debt 2,107,835 0
Non-cash recording of derivative liability in connection with debt 4,120,359 0
Common stock exchanged for Series A convertible preferred stock 970 0
Issuance of common stock for goods and services $ 993,667 $ 0