Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Operating activities    
Net loss $ (2,801,086)us-gaap_ProfitLoss $ (902,892)us-gaap_ProfitLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 342us-gaap_DepreciationDepletionAndAmortization 600us-gaap_DepreciationDepletionAndAmortization
Non-cash interest expense charge on beneficial conversion feature on notes 1,663,873us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature 0us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature
Non-cash interest expense on accounting of the debt discount on the 2014 notes 244,111us-gaap_AmortizationOfFinancingCostsAndDiscounts  
Fair value adjustment on Common Stock Warrants (223,171)us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 0us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Stock-based compensation 484,540us-gaap_ShareBasedCompensation 22,741us-gaap_ShareBasedCompensation
Write-off of stockholders notes receivable 0eyeg_WriteOffOfStockholdersNotesReceivable 200,758eyeg_WriteOffOfStockholdersNotesReceivable
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (154,092)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 4,712us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Refundable tax credit receivable (744)us-gaap_IncreaseDecreaseInIncomeTaxesReceivable (2,027)us-gaap_IncreaseDecreaseInIncomeTaxesReceivable
Other assets 463us-gaap_IncreaseDecreaseInOtherOperatingAssets (25,446)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable (279,714)us-gaap_IncreaseDecreaseInAccountsPayable (5,587)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses (703,472)us-gaap_IncreaseDecreaseInAccruedLiabilities 276,043us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash used in operating activities (1,768,950)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (431,098)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Investing activities:    
Restricted cash (20,000)us-gaap_IncreaseDecreaseInRestrictedCash  
Net cash used in investing activities (20,000)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations  
Financing activities    
Proceeds from convertible notes payable 0eyeg_ProceedsFromConvertibleNotesPayable 446,151eyeg_ProceedsFromConvertibleNotesPayable
Exercise of common stock options 14,948us-gaap_ProceedsFromStockOptionsExercised 0us-gaap_ProceedsFromStockOptionsExercised
Proceeds from initial public offering 4,099,500us-gaap_ProceedsFromIssuanceInitialPublicOffering 0us-gaap_ProceedsFromIssuanceInitialPublicOffering
Offering costs (224,864)us-gaap_PaymentOfFinancingAndStockIssuanceCosts 0us-gaap_PaymentOfFinancingAndStockIssuanceCosts
Payments grants payable (32,628)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 0us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash provided by financing activities 3,856,956us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 446,151us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash 50,177us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 7,153us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase in cash 2,118,183us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 22,206us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash, beginning of period 167,001us-gaap_CashAndCashEquivalentsAtCarryingValue 501,172us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash, end of period 2,285,184us-gaap_CashAndCashEquivalentsAtCarryingValue 523,738us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information    
Cash paid for interest 0us-gaap_InterestPaid 0us-gaap_InterestPaid
Cash paid for income taxes 0us-gaap_IncomeTaxesPaidNet 0us-gaap_IncomeTaxesPaidNet
Supplemental disclosure of noncash investing and financing activities    
Conversion of non-controlling interests to common stock 6,818,732eyeg_ConversionOfNonControllingInterestsToCommonstock 0eyeg_ConversionOfNonControllingInterestsToCommonstock
Conversion of preferred stock into common stock 36,408,666eyeg_ConversionOfPreferredStockIntoCommonStock 0eyeg_ConversionOfPreferredStockIntoCommonStock
Exercise of common warrants 97eyeg_ExerciseOfCommonWarrants 0eyeg_ExerciseOfCommonWarrants
Conversion of promissory notes and accrued interest into common stock 3,532,694us-gaap_DebtConversionOriginalDebtAmount1 0us-gaap_DebtConversionOriginalDebtAmount1
Deemed dividend on conversion of preferred stock 8,222,008us-gaap_PreferredStockConversionsInducements  
Application of deferred offering costs on IPO 1,148,994us-gaap_WriteOffOfDeferredDebtIssuanceCost  
Warrant liability reclassed to stockholders’ equity $ 79,930us-gaap_EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity