Annual report pursuant to Section 13 and 15(d)

Statement of Cash Flows

v3.10.0.1
Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:    
Net loss $ (3,227,932) $ (16,554,872)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation expense (non-cash) 529,332 305,205
In process research and development (non-cash) 0 13,501,622
Changes in operating assets and liabilities, net    
Prepaid expenses and other current assets (273,371) (126,780)
Accounts payable and accrued expenses 87,684 247,357
Net cash used in operating activities (2,886,757) (2,627,468)
Cash flows from financing activities:    
Cash received from Gem, net of $169,257 of transaction costs 0 4,830,743
Proceeds from the sale of common stock, net of $32,400 of issuance costs 0 4,705,646
Net cash provided by financing activities 0 9,536,389
Effect of exchange rates on cash, cash equivalents, and restricted cash (2,396) 0
Net increase in cash, cash equivalents and restricted cash (2,889,153) 6,908,921
Cash, cash equivalents and restricted cash at beginning of period 9,781,925 2,873,004
Cash, cash equivalents and restricted cash at end of period 6,892,772 9,781,925
Supplemental disclosure of non-cash items for cash flow information:    
Value of shares issued in Gem transaction $ 0 $ 18,332,365