Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (11,695,385) $ (7,465,439)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 1,884,916 1,583,156
Depreciation and amortization 81,898 31,489
Loss on foreign exchange 9,245 14,265
Deferred rent 333,865 (1,372)
Changes in operating assets and liabilities:    
Decrease in customer receivable 6,250,000 1,000,000
Increase in prepaid expenses (757,790) (140,181)
Increase in other assets (18,863)
Increase in accounts payable 1,192,558 191
Increase (decrease) in accrued expenses 1,120,245 (364,557)
Decrease in deferred revenue (1,293,697)
Net cash used in operating activities (1,599,311) (6,636,145)
Cash flows from investing activities:    
Purchases of property and equipment (1,269,711) (40,131)
Net cash used in investing activities (1,269,711) (40,131)
Cash flows from financing activities:    
Principal payments on notes payable (124,213) (116,031)
Proceeds from issuance of common stock 11,856,655 41,349,957
Issuance costs paid for common stock financings (603,576) (621,862)
Principal payments under capital lease obligation (678) (920)
Net cash provided by financing activities 11,128,188 40,611,144
Net increase in cash, cash equivalents, and restricted cash 8,259,166 33,934,868
Cash, cash equivalents, and restricted cash at beginning of the period 62,696,486 15,192,257
Cash, cash equivalents, and restricted cash at end of the period 70,955,652 49,127,125
Supplemental disclosure of cash flow information and non-cash transactions:    
Cash paid during the period for interest 1,826 1,527
Fair value of warrant issued in connection with Investment Agreement 6,215,225
Stock issuance costs included in accounts payable or accrued expenses 127,293 44,926
Purchases of property and equipment included in accounts payable or accrued expenses 507,800
Write off of fully amortized leasehold improvements $ 191,244