Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows From Operating Activities:    
Net loss $ (17,626,037) $ (14,484,792)
Adjustments to reconcile net loss to net cash (used in) operating activities:    
Stock-based compensation expense 3,077,814 6,307,799
Depreciation expense 57,670 43,409
Gain on change in fair value of derivative liabilities (2,399,639) (5,432,918)
(Increase) decrease in:    
Prepaid expenses and other current assets (755,229) 542,247
Increase (decrease) in:    
Accounts payable and accrued expenses 1,097,044 (1,379,432)
Accounts payable and accrued expenses - related parties (175,818)
Net Cash Used In Operating Activities (16,548,377) (14,579,505)
Cash Flows From Investing Activities:    
Purchase of property and equipment (42,729) (26,945)
Security deposits (49,859)
Net Cash Used In Investing Activities (92,588) (26,945)
Cash Flows From Financing Activities:    
Payments on note payable (265,695) (283,552)
Sales of common stock, net of offering costs 6,772,667 32,825,465
Proceeds from the exercise of options 18,105 15,680
Proceeds from the exercise of warrants 104,100
Net Cash Provided By Financing Activities 6,525,077 32,661,693
Net change in cash and cash equivalents (10,115,888) 18,055,243
Cash and cash equivalents at beginning of period 25,643,273 6,706,802
Cash and cash equivalents at end of period 15,527,385 24,762,045
Supplemental disclosures of cash flow information:    
Cash paid for interest 5,007 7,868
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities:    
Fair value of warrants issued with stock 4,738,161
Transfer warrant derivatives from liability to equity classification $ 17,455 $ 48,691