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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 $ (1,175,874) $ 10,525,252
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 92,059 29,921
Non-cash lease expense 364,542 100,000
Stock based compensation 1,730,508 2,516,095
Change in assets and liabilities:    
Accounts receivable (1,394,991) (11,578,675)
Prepaid and other current assets (857,828) (672,194)
Accounts payable and accrued expenses 1,235,607 819,001
Accrued salaries and wages 200,991 45,759
Lease liabilities (363,363) (98,739)
Royalty payable 331,495 3,476,118
Deferred revenue (558,231) 143,046
License fees 0 (8,100,000)
Net cash used in operating activities (395,085) (2,794,416)
Cash flows from investing activities    
Purchase of property and equipment (50,887) (302,475)
Net cash used in investing activities (50,887) (302,475)
Cash flows provided by financing activities    
Proceeds from stock option and warrant exercises 685,101 1,705,140
Net cash provided by financing activities 685,101 1,705,140
Effect of foreign currency translation on cash (116,437) 0
Net increase (decrease) in cash and cash equivalents 122,692 (1,391,751)
Cash and cash equivalents, beginning of period 30,980,473 24,613,638
Cash and cash equivalents, end of period 31,103,165 23,221,887
Non-Cash Transactions    
Right of use assets obtained in exchange for new lease obligations 0 948,575
Cashless exercise of options 2 0
Supplemental Disclosures    
Income taxes paid $ 39,000 $ 0