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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net loss $ (926,272) $ (2,160,394)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 0 72,589
Option expense 48,277 153,853
Changes in:    
Other current assets 134,231 98,565
Accounts payable (79,906) (186,027)
Accrued expenses (197,496) 202,531
Deferred revenue 0 (726,291)
Net cash used in operating activities (1,021,166) (2,545,174)
Cash flows from investing activities    
Proceeds from sale of property & equipment 50,000 (485)
Net cash provided/(used) in investing activities 50,000 (485)
Cash flows from financing activities    
Common stock sold for cash net of offering cost 413,662 0
Note payable - insurance (64,771) (55,144)
Payment of deferred offering costs 0 (27,512)
Net cash provided/(used) in financing activities 348,891 (82,656)
Net change in cash and cash equivalents (622,275) (2,628,315)
Cash and cash equivalents at beginning of period 3,444,952 12,583,764
Cash and cash equivalents at end of period 2,822,677 9,955,449
Cash paid for:    
Interest 1,182 1,371
Income taxes 0 0
NON-CASH TRANSACTIONS    
Unpaid deferred offering costs $ 0 $ 8,395