Annual report pursuant to Section 13 and 15(d)

Statements of Cash Flows

v3.7.0.1
Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:    
Net loss $ (6,074,999) $ (3,878,210)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 57,978 30,727
Stock-based compensation 735,429 396,850
Amortization of debt discount 196 196
Changes in operating assets and liabilities:    
Restricted cash 4,055
Prepaid expenses and other current assets (22,599) (68,706)
Accounts payable (106,436) (80,343)
Accrued liabilities (22,933) (149,688)
Accrued payroll and other compensation 230,391 113,956
Net cash used in operating activities (5,202,973) (3,631,163)
Cash flows from investing activities:    
Purchases of property and equipment (88,915) (225,671)
Payment for security deposit (16,318) (19,392)
Purchases of investments (14,093,162) (12,731,800)
Proceeds from redemptions of investments 14,152,000 7,244,000
Net cash used in investing activities (46,395) (5,732,863)
Cash flows from financing activities:    
Deferred offering costs (35,811)
Proceeds from exercise of warrants 2,969,454
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 the conversion of private placement puts 2,700,000
Net cash provided by financing activities 3,703,139 12,973,221
Net increase in cash (1,546,229) 3,609,195
Cash at beginning of year 4,803,687 1,194,492
Cash at end of year 3,257,458 4,803,687
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
Subscription receivable from exercise of warrants 522,326  
Supplemental disclosure of cash flow information:    
Interest paid