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v2.4.1.9

STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended
--- | ---
Dec. 31, 2014 | Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES |  |
Net loss | $ (4,409,797)us-gaap_NetIncomeLoss | $ (3,912,326)us-gaap_NetIncomeLoss
Adjustment to reconcile net loss to net cash used in operating activities |  |
Warrants issued for services | 148,681 us-gaap_AdjustmentOfWarrantsGrantedForServices | 135,851 us-gaap_AdjustmentOfWarrantsGrantedForServices
Stock options issued for services | 824,726 us-gaap_ShareBasedCompensation | 674,897 us-gaap_ShareBasedCompensation
Common stock issued for services and fees | 41,362 us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims | 212,156 us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Depreciation and amortization of patents | 151,183 us-gaap_DepreciationAndAmortization | 126,773 us-gaap_DepreciationAndAmortization
(Increase) decrease in assets |  |
Prepaid expenses and other current assets | 3,977 us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | (42,229)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Increase (decrease) in liabilities |  |
Accounts payable | 112,755 us-gaap_IncreaseDecreaseInAccountsPayable | (30,974)us-gaap_IncreaseDecreaseInAccountsPayable
Accounts payable and accrued expenses-related parties | (38,494)us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties | (6,789)us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties
Accrued expenses | 25,404 us-gaap_IncreaseDecreaseInAccruedLiabilities | 4,611 us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash used in operating activities | (3,140,203)us-gaap_NetCashProvidedByUsedInOperatingActivities | (2,838,030)us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES |  |
Cost of intangibles | (81,350)us-gaap_PaymentsToAcquireIntangibleAssets | (69,875)us-gaap_PaymentsToAcquireIntangibleAssets
Purchase of equipment, furniture and leasehold improvements | (213,189)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (109,278)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash used in investing activities | (294,539)us-gaap_NetCashProvidedByUsedInInvestingActivities | (179,153)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES |  |
Issuance of common stock, private placement | 3,140,000 us-gaap_ProceedsFromIssuanceOfPrivatePlacement |
Issuance of common stock, exercise of options and warrants | 153,830 us-gaap_ProceedsFromOtherEquity | 72,508 us-gaap_ProceedsFromOtherEquity
Issuance of common stock, institutional investor | 1,036,148 lwlg_CommonStockIssuedToInstitutionalInvestorValue | 2,278,500 lwlg_CommonStockIssuedToInstitutionalInvestorValue
Net cash provided by financing activities | 4,329,978 us-gaap_NetCashProvidedByUsedInFinancingActivities | 2,351,008 us-gaap_NetCashProvidedByUsedInFinancingActivities
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 895,236 us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | (666,175)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS - BEGINNING OF YEAR | 2,270,704 us-gaap_CashAndCashEquivalentsAtCarryingValue | 2,936,879 us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS - END OF YEAR | $ 3,165,940 us-gaap_CashAndCashEquivalentsAtCarryingValue | $ 2,270,704 us-gaap_CashAndCashEquivalentsAtCarryingValue

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