v3.10.0.1
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (11,261,066) $ (4,667,430)
Adjustments to reconcile net loss to net cash used in operating activities:    
Amortization of debt discount 6,562,736 394,789
Gain on extinguishment of convertible notes payable (1,481,317)
Stock-based compensation 1,646,807 724,108
Depreciation and amortization 99,790 105,959
Change in fair value of derivatives (191,656) (2,428)
Changes in operating assets and liabilities:    
Accounts receivable, net 7,119 (4,380)
Inventory 90,908
Prepaid expenses and other current assets (89,118) (85,809)
Security deposit and other assets 700 (1,499)
Accounts payable (148,618) 224,375
Accrued expenses 11,484 290,378
Deferred revenue - related party (68,000)
Total adjustments 6,349,927 1,736,401
Net Cash Used in Operating Activities (4,911,139) (2,931,029)
Cash Flows from Investing Activities    
Collection of receivable for sale of assets 166,250
Issuance of note receivable to related party (77,737)
Advances to related party 10,000
Purchase of property and equipment (8,319) (2,265)
Net Cash Provided by (Used in) Investing Activities (8,319) 96,248
Cash Flows from Financing Activities    
Proceeds from initial public offering, net [1] 7,657,427
Initial public offering costs paid in cash (706,596) (94,816)
Repayments of notes payable (1,125,000)
Proceeds from issuance of note payable to related party 311,000
Repayments of notes payable - related party (120,864) (174,734)
Proceeds from issuance of notes payable, net of commission 722,500
Proceeds from issuance of convertible notes, net [2] 2,603,750 2,415,400
Net proceeds from issuance of redeemable Series B preferred stock and warrant 632,900
Net Cash Provided by Financing Activities 9,031,217 3,089,750
Net Increase (Decrease) in Cash 4,111,759 254,969
Cash - Beginning of period 77,688 56,514
Cash - End of period 4,189,447 311,483
Supplemental Disclosures of Cash Flow Information:    
Cash Paid During the Period For: Interest, net 302,590 27,148
Non-Cash Financing Activities    
Conversion of convertible note payable - related party and accrued interest into common stock 517,742
Exchange of note payable - related party and accrued interest into common stock 150,553 1,973
Fair value of placement agent warrants issued in connection with preferred stock offering included in derivative liabilities 2,130
Fair value of warrants issued in connection with convertible debt included in derivative liabilities 1,046,763 800,236
Embedded conversion option in convertible debt included in derivative liabilities 1,239,510 1,109,775
Derivative liabilities reclassified to equity 6,059,823
Conversion of convertible notes payable and accrued interest into common stock 5,743,391
Conversion of preferred stock into common stock $ 5,170,755
[1] Net of offering costs paid from escrow of $967,573
[2] Net of cash offering costs of $293,750 and $334,600, respectively

Source

PDF HTML
10-Q Filing
ZIP XLS HTML
XBRL