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Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (2,128,057) $ (2,366,269)
Adjustments to reconcile net loss to net cash used by operating activities    
Stock based compensation 205,046 61,822
Depreciation expense 1,715 1,436
Change in assets and liabilities    
Decrease in prepaid expenses 871,907 40,108
Decrease in subscription receivable 2,761 0
(Decrease) in accrued expenses - related party (37,714) (200,000)
Increase in accounts payable 19,920 184,644
(Decrease) in accrued expenses (86,273) (254,285)
Total adjustments 977,362 (166,275)
Net Cash Used in Operating Activities (1,150,695) (2,532,544)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of property and equipment (2,058) (3,043)
CASH FLOWS FROM FINANCING ACTIVITIES    
Repayments on note payable (7,883) 0
Proceeds from exercise of common stock warrants 26 2,363
Net Cash Provided by Financing Activities (7,857) 2,363
NET DECREASE IN CASH (1,160,610) (2,533,224)
CASH AT BEGINNING OF YEAR 11,230,637 8,010,357
CASH AT END OF PERIOD $ 10,070,027 $ 5,477,133
DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:    
Conversion of convertible redeemable preferred stock to common stock 45,343 2,256,504