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, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (9,483,551) $ (3,595,200)
Adjustments to reconcile net loss to cash used in operating activities:    
Depreciation and amortization 294,195 269,317
Stock-based compensation expense 573,084 397,132
Gain on revaluation of derivative warrants (16,625) (3,201,004)
Changes in:    
Accounts payable and accrued liabilities 602,798 411,516
Prepaid expenses and other current assets (160,334) (208,387)
Other assets and liabilities (3,801) (6,824)
Cash used in operating activities (8,194,234) (5,933,450)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of fixed assets (346,703) (5,258)
Cash used in investing activities (346,703) (5,258)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments on notes payable (86,591) (182,283)
Proceeds from issuance of common stock, net of underwriting issuance costs 0 7,371,121
Cash paid for issuance costs 0 (150,633)
Proceeds from exercise of warrants 2,963,259 652,516
Cash paid for reverse stock split fractional shares 0 (594)
Change in deferred issuance costs (116,337) 38,569
Payments on capital lease obligations (1,786) (1,811)
Cash provided by financing activities 2,758,545 7,726,885
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (5,782,392) 1,788,177
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 11,444,619 3,857,791
CASH AND CASH EQUIVALENTS AT END OF PERIOD 5,662,227 5,645,968
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest expense 364 3,702
Reclassification to equity for warrants that are no longer derivative instruments $ 0 $ 1,392,000