XML 20 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (2,591,790) $ (4,291,483)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 5,167
Amortization of debt discounts related to convertible notes payable 8,378
Loss on extinguishment of debt 105,254
Loss on extinguishment of other liabilities 11,154
Loss on exchange of officer note 49,974
Stock-based compensation and fees included in - General and administrative expenses 14,248 1,164,537
Stock-based compensation and fees included in - Research and development expenses 15,000 762,741
Foreign currency transaction loss (gain) 112,641 (58,153)
(Increase) decrease in -    
Prepaid expenses 18,962 26,772
Increase (decrease) in -    
Accounts payable and accrued expenses 703,682 476,449
Accrued compensation and related expenses 1,025,484 1,117,439
Accrued interest payable 99,645 99,522
Net cash used in operating activities (427,368) (697,009)
Cash flows from financing activities:    
Proceeds from sale of common stock units and issuance of restricted stock, net of fees 195,750 754,500
Proceeds from officer notes 100,000
Proceeds from issuance of notes payable 80,000
Principal paid on other short-term notes payable (64,629)
Net cash provided by financing activities 375,750 689,871
Cash and cash equivalents:    
Net decrease (51,618) (7,138)
Balance at beginning of period 84,902 92,040
Balance at end of period 33,284 84,902
Cash paid for -    
Interest 3,345 2,608
Non-cash financing activities:    
10% convertible notes payable, including accrued interest of $62,267, exchanged for common stock 213,266
Accounts payable and accrued expenses extinguished with common stock options 138,273
Accrued compensation extinguished with option to purchase common stock options 200,350
Officer note payable, exchanged for common stock and warrants 50,000
Short-term note payable issued in connection with financing of directors and officers insurance policy 63,750 59,857
Short-term note payable issued in connection with financing of clinical trial and other office insurance policies 9,322 9,307
Fair value of common stock issued to service provider 198,550
Accrual of fees payable to placement agent in connection with the sale common stock units 20,000
Fair value of common stock warrants issued to placement agent in connection with the sale of common stock units 27,648
Reclassification of non-permanent equity $ 185,000