Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating Activities:    
Net Loss $ (9,642,376) $ (5,697,975)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation and Amortization 649 1,026
Non-Cash Interest Expense Charge on Beneficial Conversion Feature of Notes 0 1,663,873
Non-Cash Interest Expense Relating to Debt Discount 0 244,111
Fair Value Adjustment on Common Stock Warrants 0 (223,172)
Stock-Based Compensation 390,469 1,144,856
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets (35,748) (57,481)
Refundable Tax Credit Receivable 9,786 1,062
License Fee Receivable 2,378,635 1,000,000
Other Assets (15,364) 189
Accounts Payable 704,912 (407,819)
Deferred Revenue 48,324 0
Accrued Expenses (200,829) (579,179)
Net Cash Used in Operating Activities (6,361,542) (2,910,509)
Investing Activities:    
Equipment Purchased Under Capital Lease (11,000) 0
Acquisition of Jade (Net of Cash Acquired) 185,746 0
Restricted Cash (25,000) (20,000)
Net Cash Provided by (Used in) Investing Activities 149,746 (20,000)
Financing Activities:    
Proceeds from Public Stock Offering 3,768,698 14,101,260
Exercise of Common Stock Options 56,206 18,543
Offering Costs (323,814) (1,479,202)
Grant Refund 0 (32,628)
Net Cash Provided by Financing Activities 3,501,090 12,607,973
Effect of Exchange Rate Changes on Cash (1,053) 74,938
Net (Decrease) Increase in Cash (2,711,759) 9,752,402
Cash, Beginning of Period 8,394,133 167,001
Cash, End of Period 5,682,374 9,919,403
Supplemental Disclosure of Non-Cash Investing and Financing Activities:    
Conversion of Non-Controlling Interests to Common Stock 0 6,818,732
Conversion of Preferred Stock into Common Stock 6,890 36,408,666
Exercise of Common Stock Warrants 0 97
Conversion of Promissory Notes and Accrued Interest into Common Stock 0 3,532,694
Deemed Dividend on Conversion of Preferred Stock 0 8,222,008
Application of Deferred Offering Costs on IPO 0 1,148,994
Warrant Liability Reclassified to Stockholders’ Equity 0 79,930
Issuance of Common Stock to Acquire Jade Therapeutics, Inc. 2,909,766 0
Contingent Liability in Connection with Jade Acquisition 1,210,000 0
Property and Equipment Acquired Under Capital Lease $ 31,576 $ 0