Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows

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Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net loss $ (7,158,521) $ (5,270,792)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 18,393 53,342
Stock issued as compensation to non-employee directors 24,320 114,576
Stock-based compensation expense 848,612 307,630
Stock issued in exchange for services 6,001  
Warrants issued in exchange for services   118,237
Decrease in fair value of derivative liability   (188,726)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (389,191) (456,496)
Accounts payable and accrued expenses 548,510 317,179
Net cash used in operating activities (6,101,876) (5,005,050)
Cash flows from investing activities    
Purchase of property and equipment (60,242)  
Net cash used in investing activities (60,242)  
Cash flows from financing activities:    
Payments on short-term notes payable (134,561) (110,354)
Net proceeds from issuance of common stock and warrants 1,510,327  
Net proceeds from issuance of common stock, convertible preferred stock, and warrants 12,431,627  
Net proceeds from issuance of convertible preferred stock and warrants   2,935,792
Proceeds from issuance of note payable to shareholder   2,400,000
Proceeds from payment of stock subscription receivable   30,563
Restricted cash (receipts) released, net   (1,408,115)
Net cash provided by financing activities 13,807,393 3,847,886
Net increase (decrease) in cash and cash equivalents 7,645,275 (1,157,164)
Cash and cash equivalents at beginning of period 6,166,143 4,080,618
Cash and cash equivalents at end of period 13,811,418 2,923,454
Supplemental disclosure of cash flow information:    
Interest paid 3,643 3,040
Non-cash investing and financing activities:    
Borrowings under short term notes payable for prepaid expense 244,490 172,047
Par value of restricted shares issued 16 160
Par value of common stock issued 13  
Fair market value of 483,870 warrants issued for financial advisory services   $ 118,237
Series C Preferred Stock [Member]    
Non-cash investing and financing activities:    
Stock dividend on Series C preferred stock 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  
Series D Preferred Stock [Member]    
Non-cash investing and financing activities:    
Par value of common stock issued 7,868  
Value of Series A preferred stock converted into common stock 3,750,920  
Deemed dividend on Series D preferred stock $ 1,412,041