• Filing Date: 2019-05-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows From Operating Activities:    
Net loss $ (1,369,830) $ (2,899,612)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 2,650
Depreciation 21,311 3,524
Amortization of patents 167,780 167,780
Changes in operating assets and liabilities    
Settlement receivable (33,943) 246,284
Prepaid expenses 98,225 99,747
Accounts payable - trade (1,857,444) 411,271
Other accrued expenses 570,624 24,536
Accrued interest expense 334,574 206,568
Net Cash Used In Operating Activities (2,066,053) (1,739,902)
Cash Flows From Financing Activities:    
Proceeds from issuance of convertible notes payable 3,775,000 706,000
Proceeds from issuance of convertible notes payable - related parties 25,000 750,000
Proceeds from exercise of warrants 5,330 422,494
Net Cash Provided By Financing Activities 3,805,330 1,878,494
Effect of Exchange Rate Changes on Cash (22,363)
Net Increase In Cash and Cash Equivalents 1,716,914 138,592
Cash and Cash Equivalents, Beginning of Period 50,986 105,504
Cash and Cash Equivalents, End of Period 1,767,900 244,096
Supplemental Disclosures of Cash Flow Information:    
Interest
Taxes
Non-cash investing and financing activities:    
Offset of related party receivable and payable $ 25,000