Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Cash Flows (unaudited)

v3.5.0.2
Condensed Statements of Cash Flows (unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net loss $ (4,397,851) $ (2,728,050)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 41,273 18,920
Stock-based compensation 524,118 310,594
Amortization of debt discount 147 147
Changes in operating assets and liabilities:    
Restricted cash 4,055
Prepaid expenses and other current assets 5,967 (81,177)
Accounts payable 214,334 (133,241)
Accrued liabilities (11,769) (151,925)
Accrued payroll and other compensation 20,417 77,154
Net cash used in operating activities (3,603,364) (2,683,523)
Cash flows from investing activities:    
Purchases of property and equipment (67,011) (220,266)
Payment for security deposit (6,601) (19,393)
Purchases of investments (8,662,205) (9,241,024)
Proceeds from redemptions of investments 12,073,000 3,496,000
Net cash provided by (used in) investing activities 3,337,183 (5,984,683)
Cash flows from financing activities:    
Deferred offering costs (35,811)
Proceeds from exercise of warrants 741,046
Proceeds from stock option exercises 2,600
Proceeds from exercise of compensation options 731,085 55,548
Proceeds from initial public offering, net 10,253,484
Proceeds from conversion of private placement Puts 2,700,000
Net cash provided by financing activities 1,474,731 12,973,221
Net increase in cash and cash equivalents 1,208,550 4,305,015
Cash and cash equivalents at beginning of period 4,803,687 1,194,492
Cash and cash equivalents at end of period 6,012,237 5,499,507
Non-cash investing and financing activities:    
Reclassification of deferred offering costs to equity 785,197
Conversion of Series B Preferred Stock to Common Stock 5,400,000
Supplemental disclosure of cash flow information:    
Interest paid
Income taxes paid $ 1,300 $ 1,425