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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net loss $ (18,031,641) $ (32,624,697)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 57,565 34,626
Non-cash interest expense 554,801 1,718,546
Non-cash lease expense 142,947 202,665
In-process research and development 7,000,000 0
Change in fair value of derivative liability 0 19,896,626
Stock-based compensation expense 498,012 720,014
Loss on debt conversion 0 341,136
Other non-cash (165,609) 0
Changes in assets and liabilities:    
Prepaid expenses and other assets 794,398 (280,838)
Accounts payable and accrued expenses (1,133,092) 2,044,901
Lease obligations (143,834) (202,338)
Net cash used in operating activities (10,426,453) (8,149,359)
Cash flows from investing activities    
Purchase of property and equipment (55,488) (2,067)
Payment of reverse asset acquisition costs 0 (2,334,063)
Net cash used in investing activities (55,488) (2,336,130)
Cash flows from financing activities    
Financing lease principal payments (17,892) (16,985)
Proceeds from issuance of common stock 26,692,377 999,832
Payment of equity issuance costs (1,083,990) (649,254)
Proceeds from issuance of debt 921,415 6,800,000
Payments of debt issuance costs (5,740) (122,262)
Repayments of debt (4,362,271) (5,290,000)
Proceeds from Pre-Merger Financing 0 22,437,537
Net cash provided by financing activities 22,143,899 24,158,868
Effect of changes in exchange rate on cash 0 0
Net increase in cash, cash equivalents and restricted cash 11,661,958 13,673,379
Cash, cash equivalents and restricted cash at beginning of period 7,595,068 1,778,613
Cash, cash equivalents and restricted cash at end of period 19,257,026 15,451,992
Supplemental disclosure of non-cash transactions:    
Issuance of Warrant Exchange Promissory Notes 5,625,000 0
Obligation settled with common stock 331,218 0
Conversion of convertible notes 0 13,979,788
Right-of-use asset related to operating leases 0 470,356
Equity issuance costs 25,000 1,150,000
Reverse asset acquisition costs $ 0 $ 2,711,431