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 ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,411,448) $ (9,483,551)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 50,051 294,195
Stock-based compensation expense 512,913 573,084
Gain on revaluation of derivative warrants (19,050) (16,625)
Gain on disposal of assets (40,898) 0
Changes in:    
Accounts payable and accrued liabilities 703,792 602,798
Prepaid expenses and other current assets (273,794) (160,334)
Other assets and liabilities (220,158) (3,801)
Cash used in operating activities (8,698,592) (8,194,234)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of fixed assets (1,425) (346,703)
Proceeds from sale of fixed assets 45,000 0
Cash provided by (used in) investing activities 43,575 (346,703)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on notes payable 0 (86,591)
Proceeds from issuance of common stock, net of underwriting issuance costs 9,075,777 0
Proceeds from issuance of preferred stock, net of underwriting issuance costs 5,949,301 0
Proceeds from exercise of warrants 0 2,963,259
Reverse stock split fractional shares (762) 0
Change in deferred issuance costs 0 (116,337)
Payments on capital lease obligations (2,246) (1,786)
Cash provided by financing activities 15,022,070 2,758,545
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 6,367,053 (5,782,392)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 10,061,421 11,499,619
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD 16,428,474 5,717,227
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest expense $ 0 $ 364