Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net loss $ (8,132,177) $ (4,400,686)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26,192 11,016
Stock issued as compensation to non-employee directors   24,320
Stock-based compensation expense 310,417 200,310
Stock issued in exchange for services 12,001  
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 1,387,250 (201,496)
Accounts payable and accrued expenses 697,695 719,077
Net cash used in operating activities (5,698,622) (3,647,459)
Cash flows from investing activities:    
Purchase of property and equipment (11,354)  
Net cash used in investing activities (11,354)  
Cash flows from financing activities:    
Payments on short-term notes payable (129,375) (88,481)
Net proceeds from issuance of common stock and warrants 11,350,676 1,510,327
Net cash provided by financing activities 11,221,301 1,421,846
Net increase (decrease) in cash and cash equivalents 5,511,325 (2,225,613)
Cash and cash equivalents at beginning of period 20,208,301 6,166,143
Cash and cash equivalents at end of period 25,719,626 3,940,530
Supplemental disclosure of cash flow information:    
Interest paid 2,045 1,501
Non-cash investing and financing activities:    
Borrowings under short term notes payable for prepaid expense 17,688 28,915
Par value of common stock issued 25  
Par value of restricted stock issued   16
Series C Preferred Stock [Member]    
Non-cash investing and financing activities:    
Stock dividend on Series C preferred stock $ 413,215 58,670
Series A Preferred Stock [Member]    
Non-cash investing and financing activities:    
Par value of common stock issued   259
Value of Series A preferred stock converted into common stock   $ 268,096