• Filing Date: 2019-02-14
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 1,245,902 $ (6,187,830)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 154,821 155,417
Share-based payments for services 238,904 42,342
Equity based compensation 573,660 1,448,098
Common stock contributed to 401(k) plan 35,241 35,880
(Gain) loss on derivative instruments (5,556,306) 958,230
Amortization of debt discount 0 611,717
Capitalized lease interest 34,223 43,543
(Increase)/decrease in assets:    
Receivables (10,105) 195,871
Prepaid expenses (105,685) 3,765
Inventory used for R&D and manufacturing (37,287) 27,773
Deposits 0 150,000
Increase/(decrease) in liabilities:    
Accounts payable (734,770) (286,984)
Accrued expenses (127,600) 33,344
Due to employees 131,892 152,920
Other liabilities (369) 3,056
Net cash used in operating activities (4,157,479) (2,612,858)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of equipment (6,132) 0
Expenditures for patent costs (66,131) (959)
Net cash used in investing activities (72,263) (959)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock and warrants 0 2,425,000
Payments of stock issuance costs (46,599) (35,605)
Proceeds from exercise of warrants 649,753 0
Payments on obligations under capital lease (1,251) (2,282)
Net cash provided by financing activities 601,903 2,387,113
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,627,839) (226,704)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 10,310,044 2,369,438
CASH AND CASH EQUIVALENTS, END OF PERIOD 6,682,205 2,142,734
SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Capitalizable patent costs included in accounts payable 0 6,967
Capital lease obligation included in accounts payable 421 790
Prepaid consulting services paid with issuance of common stock (36,524) (16,935)
Notes payable converted into common shares 0 75,000
Cash paid for interest expense $ 448,486 $ 433,707