XML 36 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities    
Net loss $ (6,502,524) $ (733,863)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 488,520 6,252
Non-cash interest 48,170 11,630
Change in fair value of warrant liability   121,000
Deferred rent expense 10,059  
Changes in operating assets and liabilities:    
Prepaid expenses (107,133) (742,613)
Accounts payable and accrued expenses 994,701 461,270
Net cash used in operating activities (5,068,207) (876,324)
Financing activities    
Proceeds from bank line of credit and loan advances   2,000,000
Payments on bank line of credit (3,000,000)  
Costs paid in connection with loan origination (82,685)  
Costs paid in connection with initial public offering   (189,250)
Net cash provided by (used in) financing activities (3,082,685) 1,810,750
Net increase (decrease) in cash and cash equivalents (8,150,892) 934,426
Cash and cash equivalents at beginning of the period 24,196,691 116,013
Cash and cash equivalents at end of the period 16,045,799 1,050,439
Supplemental disclosures of cash flow information    
Interest paid $ 58,790 $ 60,250
Supplemental disclosures of non-cash financing information    
Issuance of Series A Convertible Preferred Stock warrants   49,000