Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v2.4.0.8
Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows From Operating Activities:    
Net loss $ (19,261,426) $ (4,893,951)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation expense 5,221,673 284,371
Depreciation expense 23,783   
Loss on disposition of equipment    4,122
Loss (gain) on change in fair value of derivative 3,653,473 (216,112)
(Increase) decrease in:    
Prepaid expenses and other current assets (453,514) 114,143
Security deposit (34,733)   
Increase (decrease) in:    
Accounts payable and accrued expenses 1,352,252 (585,043)
Accounts payable and accrued expenses - related party 197,106 344,501
Net Cash Used In Operating Activities (9,301,386) (4,947,969)
Cash Flows From Investing Activities:    
Purchase of property and equipment (150,874) (8,030)
Net Cash Used In Investing Activities (150,874) (8,030)
Cash Flows From Financing Activities:    
Payments on note payable (157,825) (140,000)
Sales of common stock, net of offering costs 15,435,305   
Proceeds from the exercise of options and warrants 392,089 3,467,393
Net Cash Provided By Financing Activities 15,669,569 3,327,393
Net change in cash 6,217,309 (1,628,606)
Cash and cash equivalents at beginning of period 5,533,366 5,618,669
Cash and cash equivalents at end of period 11,750,675 3,990,063
Supplemental disclosures of cash flow information:    
Cash paid for interest    561
Cash paid for income taxes      
Supplemental disclosure of non-cash investing and financing activities:    
Transfer warrant derivatives from liability to equity classification $ 2,143,793 $ 600,880