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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net loss $ (9,980,370) $ (4,564,423)
Adjustments to reconcile net loss to net cash used in operating activities:    
Non-cash interest expense 242,982 0
Share-based compensation 136,617 39,031
Depreciation 2,711 2,627
Loss on disposal of asset 967 0
Write-off of deferred financing costs 1,901 69,896
Changes in:    
Prepaid expenses (291,703) (36,902)
Accounts payable 156,029 (60,803)
Accrued expenses (157,890) (23,591)
Net cash used in operating activities (9,888,756) (4,574,165)
Cash flows from investing activities    
Cash acquired in merger, net of payment in lieu of fractional shares 1,030,123 0
Purchase of property and equipment (2,523) (1,582)
Net cash provided by (used in) investing activities 1,027,600 (1,582)
Cash flows from financing activities    
Proceeds from issuance of common stock 10,000,000 0
Proceeds from issues of Preferred Series B, net 0 7,994,834
Deferred financing costs (68,530) 0
Proceeds from convertible notes payable 5,500,000 0
Net cash provided/(used) in financing activities 15,431,470 7,994,834
Net increase in cash and cash equivalents 6,570,314 3,419,087
Cash and cash equivalents at beginning of period 1,834,018 798,545
Cash and cash equivalents at end of period 8,404,332 4,217,632
Supplemental non-cash financing transactions:    
Accretion of issuance costs on Series A Convertible Redeemable Preferred stock 51,943 11,130
Accretion of issuance costs on Series B Convertible Redeemable Preferred stock 127,780 0
Conversion of Series A Convertible Redeemable Preferred stock to common stock 4,166,164 0
Conversion of Series B Convertible Redeemable Preferred stock to common stock 8,149,995 0
Conversion of convertible notes payable and accrued interest to common stock 5,674,452 0
Issuance of common stock in Merger (Note 1) $ 6,978,916 $ 0