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CONDENSED STATEMENTS OF CASH FLOWS
3 Months Ended
Mar. 31, 2017
USD ($)
Cash Flows from Operating Activities  
Net loss $ (4,715,358)
Adjustments to reconcile net loss to net cash used in operating activities:  
Depreciation expense 15,031
Loss on extinguishment of debt 207,713
Stock-based compensation 228,036
Amortization of debt issuance costs and debt discount 96,772
Change in fair value of warrants 453,419
Changes in assets and liabilities  
Accounts receivable - trade 4,963
Other receivable (288,166)
Inventory 20,114
Prepaid expenses (85,218)
Deferred offering costs 7,632
Due from parent 78,226
Deferred collaboration revenue 2,088,989
Deferred product revenue (16,196)
Deferred rent 158
Accounts payable 931,340
Accrued expenses 683,825
Total cash used in operations (288,720)
Cash Flows from Investing Activities  
Change in restricted cash 490,101
Total cash provided by investing activities 490,101
Cash Flows from Financing Activities  
Repayment of long-term debt (490,101)
Total Cash Provided by Financing Activities 52,701
Net increase (decrease) in cash and cash equivalents 254,082
Cash and cash equivalents, beginning of period 950,979
Cash and cash equivalents, end of period 1,205,061
Private Investment in Public Entities  
Cash Flows from Financing Activities  
Deferred offering costs (7,632)
Proceeds from issuance of common stock in a private investment in public entities $ 550,434