Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating Activities    
Net Loss $ (2,919,654) $ (2,442,433)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation and Amortization 4,536 84
Stock-Based Compensation 276,901 113,360
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets (398,476) (257,642)
Refundable Tax Credit Receivable 0 (112)
License Fee Receivable 3,927,514 570,000
Other Assets (207) (7,984)
Accounts Payable (101,138) 173,182
Deferred Revenue 0 798,455
Accrued Expenses (808,077) (300,413)
Net Cash Used in Operating Activities (18,601) (1,353,503)
Investing Activities:    
Acquisition of Jade (Net of Cash Acquired) 0 185,746
Restricted Cash 0 (10,000)
Net Cash Provided by Investing Activities 0 175,746
Financing Activities    
Exercise of Common Stock Options 1,841 0
Proceeds from Issuance of Stock 1,922,252 0
Stock Issuance Costs (98,319) 0
Equipment Financing Payments (3,162) 0
Net Cash Provided by Financing Activities 1,822,612 0
Effect of Exchange Rate Changes on Cash (1,564) (1,595)
Net Increase (Decrease) in Cash 1,802,447 (1,179,352)
Cash, Beginning of Period 3,635,224 8,394,133
Cash, End of Period 5,437,671 7,214,781
Supplemental Disclosure of Noncash Investing and Financing Activities    
Issuance of Common Stock to Acquire Jade Therapeutics, Inc. 0 2,442,711
Contingent Liability in Connection with the Jade Acquisition $ 0 $ 1,210,000