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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
OPERATING    
Net loss $ (13,895,737) $ (14,407,809)
Adjustments to reconcile net loss to cash used in operating activities:    
Amortization of property and equipment and intangibles 132,545 115,641
Amortization of deferred financing costs 187,739 210,249
Stock-based compensation expense 1,203,800 429,410
Accretion of debt discount $ 425,086 172,374
Interest accrued on convertible notes 812,832
Stock-based compensation for services $ 44,800 739,500
Stock-based merger transaction costs 3,321,537
Net change in operating working capital items $ 874,566 434,472
Operating $ (11,027,201) (8,171,794)
INVESTING    
Funds held in escrow 777,746
Acquisition of property and equipment $ (77,765) (112,328)
Acquisition of intangibles (108,069) (18,186)
Investing $ (185,834) 647,232
FINANCING    
Issuance of common shares from exercise of stock options 1
Proceeds from issuance of common shares for cash $ 6,285,700 15,214,561
Proceeds from issuance of preferred shares for cash 1,035,135
Share issue costs $ (62,556) (796,247)
Proceeds from Convertible Debt 1,500,000
Financing costs on notes converted to shares (134,088)
Proceeds from term loan facility 3,000,000
Financing costs of term loan facility $ (471,345)
Repayment of long-term debt $ (375,000)
Financing 5,848,144 $ 19,348,017
Effect of exchange rate changes on cash and cash equivalents 42,930 156,399
CHANGE IN CASH AND CASH EQUIVALENTS FOR THE YEAR (5,321,961) 11,979,854
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 12,604,273 624,419
CASH AND CASH EQUIVALENTS, END OF YEAR 7,282,312 12,604,273
Supplementary information:    
Interest paid 357,350 $ 145,000
Capital expenditures included in accrued liabilities $ 4,090
Non-cash investing and financing:    
Issuance of common stock in connection with conversion of notes payable $ 20,765,988
Issuance of preferred stock in connection with conversion of notes payable 520,572
Debt discount on long-term debt $ 1,027,000