XML 84 R7.htm IDEA: XBRL DOCUMENT v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net loss $ (38,539,436) $ (32,146,057)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 1,737,077 1,319,003
Impairment of goodwill 0 5,210,821
Impairment of indefinite-lived intangible assets 4,000,000 0
Interest paid on the conversion of debt to equity   21,274
Warrants issued for services   23,894
Loss on extinguishment of debt 4,940,911 544,444
Amortization of operating lease right-of-use-assets 191,133  
Stock-based compensation 2,988,544 2,023,874
Issuance of common stock in exchange for services 140,000 6,425
Issuance of common stock in Tempesta settlement agreement 48,800  
Tempesta settlement note expense 550,000  
Amortization of debt issuance costs and debt discount 5,157,338 1,196,914
Change in fair value of warrants, conversion option and derivative liability (1,009,402) (6,325)
Changes in assets and liabilities    
Accounts receivable (696,028) (528,025)
Other receivable (7,850) (4,738)
Inventory 1,213,492 (1,269,360)
Prepaid expenses and other current assets (246,658) (111,616)
Other non-current assets 108,687 (262,659)
Deferred collaboration revenue   (177,389)
Operating lease liabilities (132,985) 109,240
Deferred rent 221,692  
Accounts payable (62,725) (1,940,671)
Accrued expenses (1,059,396) 3,260,119
Total cash used in operating activities (20,456,806) (22,730,832)
Cash flows from investing activities    
Purchase of equipment   (6,527)
Total cash used in investing activities   (6,527)
Cash flows from financing activities    
Proceeds from issuance of notes payable 5,050,000 2,564,938
Proceeds from issuance of convertible debt   474,000
Repayment of notes payable (5,150,000) (1,689,200)
Repayment of convertible debt   (566,249)
Proceeds from issuance of common stock 2,249,100 7,055,874
Payment of underwriting discounts, commissions and other associated offering costs   (2,117,550)
Fractional common shares repurchased   (30)
Total cash provided by financing activities 21,771,993 24,545,683
Net increase in cash 1,315,187 1,808,324
Cash at beginning of year 2,568,191 759,867
Cash at end of year 3,883,378 2,568,191
Supplemental disclosure of cash flow information    
Cash paid for interest 142,000  
Supplemental schedule of non-cash financing and investing activities    
Common stock issued in exchange for CVP Exchange Note 1 principal and related interest 6,672,838  
Common stock issued in payment of accrued interest on Kingdon notes payable 446,729  
Accretion to redemption value of Series A contingently redeemable convertible preferred stock 894,490  
September 2018 L2 convertible note payable    
Supplemental schedule of non-cash financing and investing activities    
Common stock issued as redemption of notes payable and related interest   48,000
Common stock issued in payment of CVP Note Payable principal and related interest 8,224,923  
Private Investment in Public Entities March 2018    
Cash flows from financing activities    
Proceeds from the issuance of convertible preferred stock, March 2018   9,199,002
Private Investment in Public Entities July 2018    
Cash flows from financing activities    
Proceeds from issuance of common stock   624,897
Private investment in public entities, October 2018    
Cash flows from financing activities    
Proceeds from issuance of common stock   6,945,000
Supplemental schedule of non-cash financing and investing activities    
Issuance of warrants   611,286
Private Investment In Public Entities November 2019 Offering [Member]    
Cash flows from financing activities    
Payment of underwriting discounts, commissions and other associated offering costs (64,503)  
Equity Forward Contracts October 2018    
Cash flows from financing activities    
Proceeds from issuance of common stock   2,055,001
Jaguar Notes Payable    
Supplemental schedule of non-cash financing and investing activities    
Interest paid on long-term debt   19,344
Common stock issued as redemption of notes payable and related interest   1,153,408
Napo convertible debt    
Supplemental schedule of non-cash financing and investing activities    
Common stock issued as redemption of notes payable and related interest   1,638,546
PIPE Financing warrants, Dec 2019    
Cash flows from financing activities    
Proceeds from Issuance of Warrants 1,500,000  
Proceeds from issuance of convertible preferred stock 1,500,000  
Series 2 warrants | Private Investment in Public Entities July 2019    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock 5,025,515  
LOC warrant    
Supplemental schedule of non-cash financing and investing activities    
Issuance of warrants 71,079  
Reclassification of warrants from liability to equity 71,079  
Bridge Note Warrants    
Supplemental schedule of non-cash financing and investing activities    
Reclassification of warrants from liability to equity 4,259,327  
Series 1 warrants    
Cash flows from financing activities    
Proceeds from Issuance of Warrants 1,750,001  
Supplemental schedule of non-cash financing and investing activities    
Deemed dividend 522,143  
Series 1 warrants | Private Investment in Public Entities July 2019    
Cash flows from financing activities    
Proceeds from Issuance of Warrants 5,025,515  
Series 1 Warrants via Put option Oct 2019    
Cash flows from financing activities    
Proceeds from Issuance of Warrants 1,750,001  
Pre-funded Warrants | Private Investment In Public Entities November 2019 Offering [Member]    
Cash flows from financing activities    
Proceeds from issuance of common stock 64,503  
Common Stock To Oasis Put Exercise    
Cash flows from financing activities    
Proceeds from issuance of common stock 2,612,756  
Common Stock To Oasis Registered Offering    
Cash flows from financing activities    
Proceeds from issuance of common stock 266,266  
Series B convertible preferred stock    
Cash flows from financing activities    
Payment of underwriting discounts, commissions and other associated offering costs (875,184)  
Supplemental schedule of non-cash financing and investing activities    
Deemed dividend 4,239,870  
Common stock issued upon conversion of Series B convertible preferred stock 2,128,317  
Series A convertible preferred stock    
Supplemental schedule of non-cash financing and investing activities    
Accretion to redemption value of Series A contingently redeemable convertible preferred stock (894,490)  
Series A convertible preferred stock | September 2018 L2 convertible note payable    
Supplemental schedule of non-cash financing and investing activities    
Issuance of warrants   118,148
Series A convertible preferred stock | Series 1 warrants    
Supplemental schedule of non-cash financing and investing activities    
Deemed dividend   $ 995,000
Series B-2 convertible preferred stock | Pre-funded Warrants | Private Investment In Public Entities November 2019 Offering [Member]    
Cash flows from financing activities    
Proceeds from issuance of convertible preferred stock 1,777,778  
Class A units    
Cash flows from financing activities    
Payment of underwriting discounts, commissions and other associated offering costs (875,122)  
Class B units    
Cash flows from financing activities    
Payment of underwriting discounts, commissions and other associated offering costs (1,635,183)  
Class B units | Private Investment in Public Entities July 2019    
Cash flows from financing activities    
Proceeds from the issuance of convertible preferred stock, March 2018 $ (4,239,870)