XML 20 R6.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (5,484,194) $ (12,312,380)
Adjustments to reconcile net loss to net cash used in operating activities:    
Impairment charges   490,676
Stock-based compensation 697,486 608,893
Depreciation 121,899 77,528
Amortization 107,580 29,446
Unrealized gains on foreign currency exchange (24,943)  
Changes in fair value of warrant liability 46,000 3,680,709
Changes in fair value of embedded derivatives   2,130
Changes in operating assets and liabilities:    
Accounts receivable 832,098 951,727
Prepaid expenses and other current assets (113,200) 479,600
Accounts payable (102,763) 115,452
Accrued expenses and other current liabilities (1,094,831) 1,160,415
Deferred revenue 2,802 2,614
Lease obligation (89,428) 765,239
Tax refund receivable (71,586) 2,244,751
Deferred taxes   (1,507,358)
Net cash used in operating activities (5,173,080) (3,210,558)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,226) (811,646)
Additions to intangible assets (15,874) (27,505)
Net cash used in investing activities (17,100) (839,151)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Redemption of preferred stock   (2,364,044)
Cash paid in conjunction with warrant exchange   (1,100,000)
Proceeds from issuance of common units, net of issuance costs 12,668,784  
Proceeds from exercise of warrants 30,324  
Payments of notes payable (156,145)  
Proceeds from exercise of stock options   22,898
Net cash provided by (used in) financing activities 12,542,963 (3,441,146)
EFFECT OF EXCHANGE RATES ON CASH   (50,365)
Net increase (decrease) in cash and cash equivalents and restricted cash 7,352,783 (7,541,220)
Cash, cash equivalents and restricted cash, beginning of period 34,353,129 12,303,639
Cash, cash equivalents and restricted cash, end of period $ 41,705,912 4,762,419
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest   1,791
SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES:    
Notes payable issued in conjunction with the exchange of warrants   1,500,000
Addition of property and equipment not yet paid   139,349
Addition of intangible assets not yet paid   5,763
Lease incentive billed but not yet received   139,349
Series B Redeemable Convertible Preferred Stock [Member]    
SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES:    
Conversion of Series B redeemable convertible preferred stock into common stock   9,255,111
Accretion of Series B redeemable convertible preferred stock   $ 2,847,471