|
Condensed Consolidated Statements of Cash Flows (USD $)
|
3 Months Ended | |
|---|---|---|
|
Mar. 31, 2015
|
Mar. 31, 2014
|
|
| Cash flows from operating activities: | ||
| Net loss | $ (1,535,718)us-gaap_NetIncomeLoss | $ (115,979)us-gaap_NetIncomeLoss |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Share-based compensation expense | 301,958us-gaap_ShareBasedCompensation | 5,372us-gaap_ShareBasedCompensation |
| Depreciation | 5,371us-gaap_Depreciation | |
| Loss on foreign exchange | 734us-gaap_ForeignCurrencyTransactionGainLossBeforeTax | |
| Changes in fair value of derivative warrant liability | (1,518)us-gaap_FairValueAdjustmentOfWarrants | |
| Non-cash interest expense | 11,163us-gaap_PaidInKindInterest | |
| Changes in operating assets and liabilities: | ||
| Increase in restricted cash | (2)us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities | |
| (Increase) decrease in prepaid expenses | 59,805us-gaap_IncreaseDecreaseInPrepaidExpense | (27,688)us-gaap_IncreaseDecreaseInPrepaidExpense |
| Increase (decrease) in accounts payable | (155,862)us-gaap_IncreaseDecreaseInAccountsPayable | 7,445us-gaap_IncreaseDecreaseInAccountsPayable |
| Increase (decrease) in accrued expenses | 44,498us-gaap_IncreaseDecreaseInAccruedLiabilities | (19,509)us-gaap_IncreaseDecreaseInAccruedLiabilities |
| Net cash used in operating activities | (1,279,950)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (139,980)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (1,727)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | |
| Net cash (used in) provided by investing activities | (1,727)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | |
| Cash flows from financing activities: | ||
| Principal payments on notes payable | (71,902)us-gaap_RepaymentsOfNotesPayable | |
| Proceeds from issuance of common stock | 62,600us-gaap_ProceedsFromIssuanceOfCommonStock | |
| Net cash used in financing activities | (9,302)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | |
| Net decrease in cash and cash equivalents | (1,290,979)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (139,980)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash and cash equivalent at beginning of the period | 6,262,445us-gaap_CashAndCashEquivalentsAtCarryingValue | 303,020us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash and cash equivalent at end of the period | 4,971,466us-gaap_CashAndCashEquivalentsAtCarryingValue | 163,040us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Supplemental disclosure of cash flow information and non cash transactions: | ||
| Cash paid during the period for interest | $ 979us-gaap_InterestPaid | |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as operating activities. This may include cash restricted for regulatory purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for a borrowing supported by a written promise to pay an obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|