Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.1.9
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