Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (Unaudited)

v3.19.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,682,651) $ (378,950)
Adjustments to reconcile net loss to net cash used in operating activities:    
Equity-based compensation 284,004 69,161
Non-cash warrant modification expense 441,763
Amortization of intangible assets 142 141
Amortization of debt discounts 32,302
Loss (gain) on debt extinguishments (12,241)
Changes in operating assets and liabilities:    
Prepaid research and development expenses 126,290
Prepaid expenses and other current assets 38,125
Accounts payable and accrued expenses 71,218 75,305
Net cash used in operating activities (1,721,109) (214,282)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from sale of equity 8,195,673
Proceeds from Senior Secured Notes, including related party 400,001
Repayment of Senior Secured Bridge Note (150,000)
Proceeds of warrant exercises 1,050,637
Net cash provided by financing activities 9,246,310 250,001
NET INCREASE IN CASH AND CASH EQUIVALENTS 7,525,201 35,719
CASH AND CASH EQUIVALENTS-BEGINNING OF PERIOD 3,869,043 18,248
CASH AND CASH EQUIVALENTS-END OF PERIOD 11,394,244 53,967
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Interest paid
Income taxes paid
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Senior note issued for payment to Senior Bridge Note 150,000
Senior note issued for Subscription Receivable 10,000
Exchange of Subordinated notes in the amount of $115,639 for Senior secured notes $ 100,000