v3.19.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows from Operating Activities    
Net loss $ (1,573,726) $ (4,747,487)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount 4,569,757
Gain on extinguishment of convertible notes payable (1,524,791)
Stock-based compensation 104,310 137,376
Depreciation and amortization 22,473 33,206
Amortization of right-of-use assets 68,873
Change in fair value of derivatives 35,623
Changes in operating assets and liabilities:    
Accounts receivable 5,507 4,116
Inventory (106,743)
Prepaid expenses and other current assets (102,308) 57,544
Accounts payable 18,744 50,702
Accrued expenses 28,882 (134,722)
Payments on lease liabilities (66,310)
Total adjustments 80,171 3,122,068
Net Cash Used in Operating Activities (1,493,555) (1,625,419)
Cash Flows from Investing Activities    
Purchase of property and equipment (1,800)
Net Cash Used in Investing Activities (1,800)
Cash Flows from Financing Activities    
Proceeds from private placement, net [1] 2,317,276
Initial public offering costs paid in cash (341,890)
Repayments of notes payable (275,000)
Repayments of notes payable - related party (130,000)
Proceeds from issuance of convertible notes, net [2] 2,603,750
Net Cash Provided by Financing Activities 2,317,276 1,856,860
Net Increase in Cash, Cash Equivalent, and Restricted Cash 821,921 231,441
Cash, cash equivalents and restricted cash - Beginning of period 2,740,645 77,688
Cash, cash equivalents and restricted cash - End of period 2,752,511 309,129
Supplemental Disclosures of Cash Flow Information:    
Cash Paid (Received) During the Period For: Interest, net (12,441) 303,888
Non-Cash Financing Activities    
Fair value of warrants issued in connection with convertible debt included in derivative liabilities 1,942,362
Embedded conversion option in convertible debt included in derivative liabilities $ 1,232,199
[1] Net of cash offering costs of $386,724
[2] Net of cash offering costs of $293,750

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