Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (4,098,259) $ (620,587)
Adjustments to reconcile net loss to net cash used in operating activities:    
Share-based compensation expense 602,863 26,412
Depreciation 11,541 180
Loss on foreign exchange   425
Change in fair value of warrant liability   28,448
Non-cash interest expense   22,395
Changes in operating assets and liabilities:    
Increase in restricted cash (2)  
(Increase) decrease in prepaid expenses 21,413 (20,207)
Increase in accounts payable 925,053 27,193
Increase in deferred revenue 1,136,364  
Increase in accrued expenses 140,547 74,078
Net cash used in operating activities (1,260,480) (461,663)
Cash flows from investing activities:    
Purchases of property and equipment (16,222) (8,009)
Net cash (used in) provided by investing activities (16,222) (8,009)
Cash flows from financing activities:    
Principal payments on notes payable (144,389)  
Proceeds from issuance of common stock 4,401,799 8,670,824
Net cash provided by financing activities 4,257,410 8,670,824
Net increase in cash and cash equivalents 2,980,708 8,201,152
Cash and cash equivalent at beginning of the period 6,262,445 303,020
Cash and cash equivalent at end of the period 9,243,153 8,504,172
Supplemental disclosure of cash flow information and non cash transactions:    
Conversion of Series A preferred stock into common stock   $ 1,108,609
Cash paid during the period for interest $ 1,108