Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (unaudited)

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Condensed Statements of Cash Flows (unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net loss $ (2,728,050) $ (1,324,599)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 18,920 1,874
Stock-based compensation 310,594 239,760
Amortization of debt discount 147 284
Changes in operating assets and liabilities:    
Restricted cash 4,055 122,140
Prepaid expenses and other current assets (81,177) (15,026)
Accounts payable (133,241) 42,870
Accrued liabilities (151,925) 189,542
Accrued payroll and other compensation 77,154 23,762
Net cash used in operating activities (2,683,523) $ (719,393)
Cash flows from investing activities:    
Purchases of property and equipment (220,266)
Payment for security deposit (19,393)
Purchases of investments (9,241,024)
Proceeds from redemptions of investments 3,496,000
Net cash used in investing activities (5,984,683)
Cash flows from financing activities:    
Deferred offering costs $ (35,811) $ (247,013)
Proceeds from the issuance of preferred stock, net 2,430,079
Proceeds from convertible notes $ 210,000
Proceeds from initial public offering $ 10,253,484
Proceeds from exercise of unit options 55,548
Proceeds from conversion of private placement Puts 2,700,000
Net cash provided by financing activities 12,973,221 $ 2,393,066
Net increase in cash and cash equivalents 4,305,015 1,673,673
Cash and cash equivalents at beginning of period 1,194,492 145,170
Cash and cash equivalents at end of period $ 5,499,507 1,818,843
Non-cash investing and financing activities:    
Warrants issued in connection with bridge loans 137
Conversion of convertible notes to Series B Preferred Stock $ 210,000
Reclassification of deferred offering costs to equity $ 785,197
Conversion of Series B Preferred Stock to Common Stock $ 5,400,000