v3.19.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2019
Mar. 31, 2019
Sep. 30, 2018
Mar. 31, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Cash Flows from Operating Activities              
Net loss $ (1,814,895) $ (1,573,726) $ (1,468,166) $ (4,747,487) $ (5,334,644) $ (11,261,066)  
Adjustments to reconcile net loss to net cash used in operating activities:              
Amortization of debt discount   (12,500)   6,562,736  
Gain on extinguishment of convertible notes payable     (1,481,317)  
Stock-based compensation         745,269 1,646,807  
Depreciation and amortization         85,060 99,790  
Amortization of right-of-use assets         206,618  
Change in fair value of derivatives     (191,656)  
Changes in operating assets and liabilities:              
Accounts receivable         32,022 7,119  
Prepaid expenses and other current assets         (52,547) (89,118)  
Security deposit and other assets         700  
Accounts payable         134,205 (148,618)  
Accrued expenses         109,768 11,484  
Deferred revenues         (68,000)  
Payments on lease liabilities         (198,930)  
Total adjustments         1,061,465 6,349,927  
Net Cash Used in Operating Activities         (4,273,179) (4,911,139)  
Cash Flows from Investing Activities              
Purchase of property and equipment         (350,934) (8,319)  
Net Cash Used in Investing Activities         (350,934) (8,319)  
Cash Flows from Financing Activities              
Proceeds from private placement, net [1]         2,317,276  
Proceeds from public offering, net [2]         3,319,656  
Proceeds from initial public offering, net [3]         7,657,427  
Initial public offering costs paid in cash         (706,596)  
Repayments of notes payable         (1,125,000)  
Repayments of notes payable - related party         (120,864)  
Proceeds from issuance of notes payable, net         722,500  
Proceeds from issuance of convertible notes, net [4]         2,603,750  
Net Cash Provided by Financing Activities         5,636,932 9,031,217  
Net Increase in Cash, Cash Equivalent, and Restricted Cash         1,012,819 4,111,759  
Cash, cash equivalents and restricted cash - Beginning of period   $ 2,740,645   $ 77,688 2,740,645 77,688 $ 77,688
Cash, cash equivalents and restricted cash - End of period $ 3,753,464   $ 4,189,447   3,753,464 4,189,447 $ 2,740,645
Supplemental Disclosures of Cash Flow Information:              
Interest paid         933 307,806  
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  
Fair value of warrants issued in connection with convertible debt included in derivative liabilities         1,046,763  
Embedded conversion option in convertible debt included in derivative liabilities         1,239,510  
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 cash offering costs of $386,724
[2] Net of cash offering costs of $549,060
[3] Net of cash offering costs of $967,573
[4] Net of cash offering costs of $293,750

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