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 ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net loss $ (5,085,670) $ (6,389,012)
Adjustments to reconcile net loss to net cash flows from operating activities:    
Depreciation and amortization 92,656 125,076
Share-based compensation 616,007 736,982
Expenses paid through the issuance of common stock 502,032 259,898
Gain from change in fair value of derivative liabilities (48,064) (748,080)
Amortization of debt issuance costs and original issue discounts 301,865 323,016
Loss from retirement of fixed assets 1,689
Loss from debt restructuring 811,909
Increase (decrease) in cash resulting from changes in:    
Accounts receivable 2,185 414,506
Inventory, net (311,637) (33,958)
Prepaid expenses and other current assets (104,329) (96,358)
Accounts payable and accrued expenses (270,535) (220,304)
Deferred revenue 58,709 106,479
Net cash flows from operating activities (4,246,781) (4,708,157)
Cash flows from investing activities:    
Purchases of property and equipment (24,515) (100,324)
Net cash flows from investing activities (24,515) (100,324)
Cash flows from financing activities:    
Proceeds from private equity offering 13,250,000 4,255,000
Offering costs (1,265,505) (417,865)
Other (4,756)
Net cash flows from financing activities 11,984,495 3,832,379
Net change in cash and cash equivalents 7,713,199 (976,102)
Cash and cash equivalents, beginning of period 3,315,774 5,408,523
Cash and cash equivalents, end of period 11,028,973 4,432,421
Cash paid for:    
Income taxes
Interest 146,611 976,295
Noncash Investing and Financing Items    
Transfer from inventory to property and equipment 30,047 16,541
The fair value of the derivatives   192,173
Reduced of derivative liabilities $ 1,207,813 $ 37,672