Annual report pursuant to Section 13 and 15(d)

Statement of Cash Flows

v3.8.0.1
Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net loss $ (16,554,872) $ (1,185,597)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock compensation expense (non-cash) 305,205 0
In process research and development (non-cash) 13,501,622 0
Changes in operating assets and liabilities, net    
Prepaid expenses and other current assets (126,780) 298
Accounts payable and accrued expenses 247,357 (9,333)
Net cash used in operating activities (2,627,468) (1,194,632)
Cash flows from financing activities:    
Proceeds from sale of Series A Preferred Stock, net of $12,500 of issuance costs 0 1,262,500
Cash received from Gem, net of $169,257 of transaction costs 4,830,743 0
Proceeds from the sale of common stock, net of $32,400 of issuance costs 4,705,646 0
Net cash provided by financing activities 9,536,389 1,262,500
Net increase in cash, cash equivalents and restricted cash 6,908,921 67,868
Cash, cash equivalents and restricted cash at beginning of period 2,873,004 2,805,136
Cash, cash equivalents and restricted cash at end of period 9,781,925 2,873,004
Supplemental disclosure of non-cash items for cash flow information:    
Value of shares issued in Gem transaction $ 18,332,365 $ 0