Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net loss $ (1,640,917) $ (1,655,738)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation and amortization 31,623 36,121
Share-based compensation 247,464 206,896
Expenses paid through the issuance of common stock 77,500
(Gain) loss from change in fair value of derivative liabilities (34,443) 93,046
Amortization of debt issuance costs and original issue discounts 136,429 100,622
Increase (decrease) in cash resulting from changes in:    
Accounts receivable 39,306 (143,832)
Inventory, net (297,280) (62,043)
Prepaid expenses and other current assets 39,556 39,371
Other assets (19,475) (5,659)
Accounts payable and accrued expenses (500,899) 5,059
Deferred revenue (39,546) 39,980
Net cash flows from operating activities (1,960,682) (1,346,177)
Cash flows from investing activities:    
Purchases of property and equipment (20,646)
Net cash flows from investing activities (20,646)
Cash flows from financing activities:    
Proceeds from warrant exercises 205,131
Net cash flows from financing activities 205,131
Net change in cash and cash equivalents (1,776,197) (1,346,177)
Cash and cash equivalents, beginning of period 9,289,831 3,315,774
Cash and cash equivalents, end of period 7,513,634 1,969,597
Cash paid for:    
Income taxes
Interest $ 146,611 $ 146,611