Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net Loss $ (8,283,418) $ (10,386,885)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Depreciation and Amortization 25,564 13,608
Stock-Based Compensation 620,335 700,833
Loss on Cancellation of Stockholder Note Receivable 0 91,054
Changes in Operating Assets and Liabilities:    
Prepaid Expenses and Other Current Assets (34,182) (194,364)
Refundable Tax Credit Receivable 5,493 (3,173)
Grant Receivable 0 (564,650)
Other Assets 19,755 (1,083)
Accounts Payable (381,907) (753,513)
Deferred Revenue 540,208 6,029,600
Unbilled Revenue (689,928) 0
Accrued Expenses (662,916) 53,342
Net Cash Used in Operating Activities (8,840,996) (5,015,231)
Investing Activities    
Purchase of Property and Equipment (20,000) 0
Payment Under License Agreement (250,000) 0
Net Cash Used in Investing Activities (270,000) 0
Financing Activities    
Proceeds from Stock Offerings, Net of Offering Costs 10,108,762 10,589,183
Exercise of Common Stock Options 0 40,718
Exercise of Warrants 1,093,825 0
Equipment Financing Payments (7,894) (9,484)
Net Cash Provided by Financing Activities 11,194,693 10,620,417
Effect of Exchange Rate Changes on Cash 10,368 4,160
Net Increase in Cash 2,094,065 5,609,346
Cash, Including Restricted Cash, Beginning of Period 7,851,029 3,635,224
Cash, Including Restricted Cash, End of Period 9,945,094 9,244,570
Supplemental Disclosure of Noncash Investing and Financing Activities    
Conversion of Preferred Stock into Common Stock $ 80,388 $ 9,300